Jupiter Topco LLC Takes Position in Ocular Therapeutix, Inc. $OCUL

Jupiter Topco LLC bought a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 68,500 shares of the biopharmaceutical company’s stock, valued at approximately $672,000.

Other hedge funds also recently modified their holdings of the company. Legal & General Group Plc acquired a new position in Ocular Therapeutix in the second quarter valued at about $1,158,000. The Manufacturers Life Insurance Company bought a new position in Ocular Therapeutix in the 2nd quarter valued at about $2,251,000. Algert Global LLC increased its holdings in Ocular Therapeutix by 9.9% in the 2nd quarter. Algert Global LLC now owns 592,309 shares of the biopharmaceutical company’s stock valued at $5,816,000 after buying an additional 53,370 shares during the period. PEAK6 LLC acquired a new position in shares of Ocular Therapeutix in the 2nd quarter valued at approximately $262,000. Finally, Quantbot Technologies LP acquired a new position in shares of Ocular Therapeutix in the 2nd quarter valued at approximately $343,000. Institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Price Performance

OCUL stock opened at $10.64 on Monday. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of -7.49 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.10 and a quick ratio of 13.03. The company has a 50 day simple moving average of $9.76 and a 200 day simple moving average of $9.22. Ocular Therapeutix, Inc. has a 1 year low of $6.23 and a 1 year high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. The firm had revenue of $13.47 million for the quarter, compared to analysts’ expectations of $13.20 million. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.39) earnings per share. Research analysts anticipate that Ocular Therapeutix, Inc. will post -1.47 EPS for the current fiscal year.

Insider Activity at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,649 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $10.77, for a total transaction of $233,159.73. Following the sale, the insider directly owned 2,525,429 shares in the company, valued at approximately $27,198,870.33. The trade was a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey S. Heier sold 3,296 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $10.78, for a total value of $35,530.88. Following the completion of the transaction, the insider directly owned 318,326 shares of the company’s stock, valued at $3,431,554.28. This represents a 1.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 29,877 shares of company stock valued at $321,827 in the last 90 days. 3.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Friday, July 17th. Zacks Research upgraded Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Chardan Capital reaffirmed a “buy” rating and issued a $23.00 target price on shares of Ocular Therapeutix in a report on Tuesday, August 4th. Wall Street Zen upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Robert W. Baird boosted their price target on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.