Paradigm Biocapital Advisors LP Makes New Investment in Ocular Therapeutix, Inc. $OCUL

Key Points

• Paradigm Biocapital Advisors LP has invested approximately $9.63 million in Ocular Therapeutix, acquiring 1,314,018 shares, making it the fund's 26th largest holding.
• Despite a recent drop in share price, analysts maintain a consensus rating of "Buy" for Ocular Therapeutix, with a consensus target price of $17.20.
• Ocular Therapeutix reported a quarterly earnings miss, with a loss of ($0.39) per share, below the consensus estimate of ($0.35), amid a 17.7% drop in year-over-year revenue.

Paradigm Biocapital Advisors LP acquired a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,314,018 shares of the biopharmaceutical company's stock, valued at approximately $9,632,000. Ocular Therapeutix accounts for 0.5% of Paradigm Biocapital Advisors LP's investment portfolio, making the stock its 26th biggest holding. Paradigm Biocapital Advisors LP owned about 0.82% of Ocular Therapeutix at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP bought a new stake in shares of Ocular Therapeutix in the fourth quarter valued at about $1,819,000. MetLife Investment Management LLC grew its stake in shares of Ocular Therapeutix by 2.7% in the fourth quarter. MetLife Investment Management LLC now owns 92,734 shares of the biopharmaceutical company's stock valued at $792,000 after acquiring an additional 2,454 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Ocular Therapeutix by 2,045.0% in the fourth 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 in the last quarter. Hsbc Holdings PLC grew its stake in shares of Ocular Therapeutix by 47.8% in the fourth quarter. Hsbc Holdings PLC now owns 18,101 shares of the biopharmaceutical company's stock valued at $152,000 after acquiring an additional 5,853 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Ocular Therapeutix by 35.7% in the fourth quarter. Voya Investment Management LLC now owns 371,235 shares of the biopharmaceutical company's stock valued at $3,170,000 after acquiring an additional 97,602 shares in the last quarter. 59.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Scotiabank decreased their price target 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, August 6th. HC Wainwright restated a "buy" rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research note on Thursday, May 29th. Finally, Needham & Company LLC upped their price target on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $17.20.

Ocular Therapeutix Trading Down 2.5%

OCUL opened at $12.21 on Friday. Ocular Therapeutix, Inc. has a twelve month low of $5.78 and a twelve month high of $12.91. The company has a 50-day simple moving average of $11.30 and a 200 day simple moving average of $8.85. The company has a quick ratio of 10.02, a current ratio of 10.10 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -9.54 and a beta of 1.49.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted its quarterly earnings data 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). Ocular Therapeutix had a negative return on equity of 71.92% and a negative net margin of 382.51%.The firm had revenue of $13.46 million for the quarter, compared to the consensus estimate of $13.12 million. During the same period in the prior year, the company earned ($0.26) EPS. The company's revenue for the quarter was down 17.7% compared to the same quarter last year. Analysts predict that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Peter Kaiser sold 3,011 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $12.04, for a total value of $36,252.44. Following the completion of the transaction, the insider owned 204,093 shares of the company's stock, valued at approximately $2,457,279.72. This represents a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pravin Dugel sold 21,494 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $12.04, for a total transaction of $258,787.76. Following the completion of the transaction, the insider directly owned 3,227,244 shares of the company's stock, valued at $38,856,017.76. This trade represents a 0.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,453 shares of company stock valued at $354,614 over the last quarter. 2.30% of the stock is owned by company insiders.

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.

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