BlackRock Inc. Invests $190.28 Million in Ocular Therapeutix, Inc. $OCUL

Key Points

• BlackRock acquired 19.38 million Ocular Therapeutix shares worth approximately $190.28 million, giving it an 8.82% stake in the biopharmaceutical company.
• Analysts maintain a generally positive outlook, with 11 Buy ratings, a “Moderate Buy” consensus, and an average price target of $25.75 versus the stock’s $10.82 price.
• Ocular Therapeutix modestly beat quarterly earnings expectations, reporting a loss of $0.35 per share versus the $0.40 consensus and revenue of $13.47 million; insiders recently sold shares under pre-arranged plans to cover tax obligations.

BlackRock Inc. purchased a new stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 19,376,555 shares of the biopharmaceutical company's stock, valued at approximately $190,278,000. BlackRock Inc. owned 8.82% of Ocular Therapeutix as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its stake in Ocular Therapeutix by 124.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 1,242 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in shares of Ocular Therapeutix during the 4th quarter worth approximately $31,000. Hilton Head Capital Partners LLC lifted its holdings in shares of Ocular Therapeutix by 30.4% in the 1st quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 1,053 shares during the last quarter. Atlas Capital Advisors Inc. bought a new stake in shares of Ocular Therapeutix in the 4th quarter worth approximately $61,000. Finally, State of Wyoming acquired a new position in Ocular Therapeutix during the 4th quarter valued at approximately $78,000. Institutional investors own 59.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Chardan Capital restated a "buy" rating and set a $23.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, August 4th. Wall Street Zen raised shares of Ocular Therapeutix from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Needham & Company LLC restated a "buy" rating and set a $18.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Zacks Research upgraded shares of Ocular Therapeutix from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Ocular Therapeutix currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.75.

Ocular Therapeutix Stock Up 0.5%

OCUL opened at $10.82 on Friday. Ocular Therapeutix, Inc. has a one year low of $6.23 and a one year high of $16.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10. The stock's fifty day moving average is $9.66 and its 200-day moving average is $9.16. The company has a market capitalization of $2.38 billion, a PE ratio of -7.62 and a beta of 0.93.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.40) by $0.05. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%.The firm had revenue of $13.47 million for the quarter, compared to analyst estimates of $13.20 million. During the same period in the previous year, the company earned ($0.39) earnings per share. Ocular Therapeutix's revenue was down .1% compared to the same quarter last year. On average, equities analysts predict that Ocular Therapeutix, Inc. will post -1.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeffrey S. Heier sold 3,296 shares of the business'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 sale, the insider directly owned 318,326 shares in the company, valued at $3,431,554.28. The trade was a 1.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 Peter Kaiser sold 3,035 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $10.77, for a total transaction of $32,686.95. Following the sale, the insider directly owned 264,378 shares of the company's stock, valued at approximately $2,847,351.06. This represents a 1.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 29,877 shares of company stock worth $321,827 in the last ninety days. 3.10% of the stock is currently owned by corporate insiders.

Ocular Therapeutix 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.

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