Ocular Therapeutix, Inc. $OCUL Shares Acquired by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Ocular Therapeutix by 44.4%, now holding 5.2 million shares valued at approximately $38.1 million.
• Analysts have mixed outlooks for Ocular Therapeutix, with consensus ratings showing five 'Buy' ratings and a consensus price target of $17.20, despite Scotiabank lowering its target from $22.00 to $20.00.
• Ocular Therapeutix reported a quarterly revenue of $13.46 million, which missed estimates, alongside a negative earnings per share of ($0.39) for the recent quarter.

Adage Capital Partners GP L.L.C. boosted its stake in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 44.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,200,000 shares of the biopharmaceutical company's stock after acquiring an additional 1,600,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 3.26% of Ocular Therapeutix worth $38,116,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Hsbc Holdings PLC increased its stake in Ocular Therapeutix by 8.1% during the 1st quarter. Hsbc Holdings PLC now owns 19,573 shares of the biopharmaceutical company's stock worth $141,000 after purchasing an additional 1,472 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ocular Therapeutix by 3.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,463 shares of the biopharmaceutical company's stock valued at $755,000 after buying an additional 2,853 shares in the last quarter. Brooklyn Investment Group boosted its position in Ocular Therapeutix by 151.5% during the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 3,155 shares during the period. GF Fund Management CO. LTD. bought a new position in Ocular Therapeutix during the fourth quarter worth $28,000. Finally, Cetera Investment Advisers boosted its position in shares of Ocular Therapeutix by 0.6% in the fourth quarter. Cetera Investment Advisers now owns 723,840 shares of the biopharmaceutical company's stock valued at $6,182,000 after acquiring an additional 4,342 shares during the period. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Peter Kaiser sold 3,011 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $12.04, for a total transaction of $36,252.44. Following the completion of the transaction, the insider owned 204,093 shares in the company, valued at $2,457,279.72. This trade represents a 1.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeffrey S. Heier sold 3,063 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $12.04, for a total value of $36,878.52. Following the sale, the insider directly owned 259,911 shares of the company's stock, valued at $3,129,328.44. This represents a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,519 shares of company stock worth $367,865 in the last quarter. 2.30% of the stock is owned by corporate insiders.

Ocular Therapeutix Stock Performance

Shares of NASDAQ:OCUL traded down $0.89 during midday trading on Monday, reaching $12.71. 2,210,437 shares of the company's stock traded hands, compared to its average volume of 1,841,253. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -9.93 and a beta of 1.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 10.02 and a current ratio of 10.10. Ocular Therapeutix, Inc. has a one year low of $5.78 and a one year high of $13.85. The stock has a 50 day moving average of $11.68 and a 200 day moving average of $9.06.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The company had revenue of $13.46 million for the quarter, compared to analysts' expectations of $13.12 million. Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. Ocular Therapeutix's revenue for the quarter was down 17.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.26) earnings per share. As a group, equities research analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Analysts Set New Price Targets

OCUL has been the subject of a number of research reports. HC Wainwright reissued a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a report on Thursday, May 29th. Needham & Company LLC upped their target price on Ocular Therapeutix from $14.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Scotiabank dropped their target price on Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $17.20.

About Ocular Therapeutix

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.