Banco Santander S.A. Increases Stock Position in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Key Points

• Banco Santander S.A. increased its holdings in Ocular Therapeutix by 21.8% in the first quarter, owning 184,048 shares valued at $1.35 million as of its most recent SEC filing.
• Ocular Therapeutix's stock price was up 2.9%, trading at $11.92, and the company has a market capitalization of $1.90 billion with a 52-week range of $5.78 to $12.35.
• Analysts have a consensus "Buy" rating for Ocular Therapeutix, with an average price target of $17.33.

Banco Santander S.A. raised its position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 21.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 184,048 shares of the biopharmaceutical company's stock after buying an additional 32,941 shares during the quarter. Banco Santander S.A. owned about 0.12% of Ocular Therapeutix worth $1,349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new position in shares of Ocular Therapeutix during the fourth quarter valued at $28,000. Atlas Capital Advisors Inc. purchased a new position in Ocular Therapeutix in the 4th quarter worth about $43,000. GAMMA Investing LLC lifted its stake in Ocular Therapeutix by 6,760.0% during the 1st quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company's stock valued at $60,000 after acquiring an additional 8,112 shares during the period. Tower Research Capital LLC TRC lifted its stake in Ocular Therapeutix by 2,045.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company's stock valued at $76,000 after acquiring an additional 8,446 shares during the period. Finally, Vontobel Holding Ltd. bought a new position in Ocular Therapeutix during the 1st quarter valued at about $79,000. Hedge funds and other institutional investors own 59.21% of the company's stock.

Insider Buying and Selling

In other news, insider Pravin Dugel sold 21,219 shares of Ocular Therapeutix stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $7.18, for a total transaction of $152,352.42. Following the completion of the sale, the insider directly owned 3,499,099 shares in the company, valued at approximately $25,123,530.82. This trade represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 29,079 shares of company stock worth $208,739. Corporate insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

OCUL has been the topic of several research analyst reports. HC Wainwright restated a "buy" rating and set a $15.00 target price on shares of Ocular Therapeutix in a research note on Thursday, May 29th. Scotiabank lowered their target price on shares of Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC upped their target price on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $17.17.

Ocular Therapeutix Price Performance

Shares of OCUL stock traded down $0.49 on Thursday, reaching $12.01. The company's stock had a trading volume of 1,490,090 shares, compared to its average volume of 1,778,889. The stock's fifty day simple moving average is $10.00 and its 200-day simple moving average is $8.32. Ocular Therapeutix, Inc. has a 1 year low of $5.78 and a 1 year high of $12.65. The company has a current ratio of 10.22, a quick ratio of 10.14 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -9.45 and a beta of 1.49.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.04). The business had revenue of $13.46 million during 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 71.62%. The company's revenue for the quarter was down 17.7% compared to the same quarter last year. During the same period last year, the business posted ($0.26) earnings per share. Analysts forecast that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Ocular Therapeutix Company Profile

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.