Pravin Dugel Sells 21,649 Shares of Ocular Therapeutix (NASDAQ:OCUL) Stock

Key Points

• Insider sale: Pravin Dugel sold 21,649 Ocular Therapeutix shares for approximately $233,160 under a pre-arranged Rule 10b5-1 plan to cover tax withholding, reducing his ownership by 0.85%.
• Financial performance: Ocular Therapeutix reported a quarterly loss of $0.35 per share, beating estimates of a $0.40 loss, while revenue of $13.47 million slightly exceeded expectations. Analysts project a full-year loss of $1.47 per share.
• Market outlook: OCUL traded at $10.77, while analysts maintained an overall “Moderate Buy” rating and an average price target of $25.75; institutional investors own 59.21% of the company.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) insider Pravin Dugel sold 21,649 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $10.77, for a total transaction of $233,159.73. Following the completion of the sale, the insider directly owned 2,525,429 shares of the company's stock, valued at approximately $27,198,870.33. This trade represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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.

Ocular Therapeutix Stock Performance

NASDAQ OCUL traded down $0.11 during trading hours on Wednesday, hitting $10.77. The company had a trading volume of 1,364,367 shares, compared to its average volume of 4,141,407. The business has a 50 day moving average of $9.61 and a 200-day moving average of $9.13. The company has a market cap of $2.37 billion, a PE ratio of -7.58 and a beta of 0.93. Ocular Therapeutix, Inc. has a 1-year low of $6.23 and a 1-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.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Ocular Therapeutix in a research report on Friday, July 17th. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Robert W. Baird raised their price objective on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, June 18th. Chardan Capital restated a "buy" rating and issued a $23.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, August 4th. Finally, Zacks Research raised shares of Ocular Therapeutix from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Eleven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $25.75.

Institutional Investors Weigh In On Ocular Therapeutix

Large investors have recently modified their holdings of the stock. Principia Wealth Advisory LLC lifted its holdings in shares of Ocular Therapeutix by 7.8% during the second quarter. Principia Wealth Advisory LLC now owns 440,618 shares of the biopharmaceutical company's stock worth $4,328,000 after purchasing an additional 31,918 shares during the period. California State Teachers Retirement System raised its position in Ocular Therapeutix by 854.8% during the 2nd quarter. California State Teachers Retirement System now owns 2,040,439 shares of the biopharmaceutical company's stock worth $207,784,000 after buying an additional 1,826,733 shares during the last quarter. Kraematon Investment Advisors Inc. raised its position in Ocular Therapeutix by 12.7% during the 2nd quarter. Kraematon Investment Advisors Inc. now owns 109,967 shares of the biopharmaceutical company's stock worth $1,080,000 after buying an additional 12,350 shares during the last quarter. AlphaGrep UK Ltd acquired a new stake in shares of Ocular Therapeutix in the 2nd quarter worth $157,000. Finally, Raiffeisen Bank International AG lifted its stake in shares of Ocular Therapeutix by 5.3% in the 2nd quarter. Raiffeisen Bank International AG now owns 100,000 shares of the biopharmaceutical company's stock worth $990,000 after acquiring an additional 5,000 shares during the period. Hedge funds and other institutional investors own 59.21% of the company's stock.

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.

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