Ocular Therapeutix, Inc. (NASDAQ:OCUL) Insider Sells $21,712.32 in Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) insider Jeffrey S. Heier sold 3,024 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $7.18, for a total value of $21,712.32. Following the sale, the insider now directly owns 262,974 shares in the company, valued at $1,888,153.32. This trade represents a 1.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ocular Therapeutix Stock Down 1.6%

Shares of Ocular Therapeutix stock traded down $0.13 during trading on Friday, reaching $8.01. The company's stock had a trading volume of 2,177,691 shares, compared to its average volume of 1,411,133. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -6.07 and a beta of 1.51. Ocular Therapeutix, Inc. has a 1-year low of $4.79 and a 1-year high of $11.78. The company has a 50-day simple moving average of $7.37 and a two-hundred day simple moving average of $7.93.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). The business had revenue of $17.08 million during the quarter, compared to analyst estimates of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. As a group, equities analysts forecast that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Institutional Trading of Ocular Therapeutix

A number of institutional investors have recently made changes to their positions in OCUL. Adage Capital Partners GP L.L.C. lifted its position in Ocular Therapeutix by 44.4% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 5,200,000 shares of the biopharmaceutical company's stock worth $38,116,000 after acquiring an additional 1,600,000 shares during the period. Paradigm Biocapital Advisors LP acquired a new stake in Ocular Therapeutix during the 1st quarter worth about $9,632,000. Point72 Asset Management L.P. lifted its position in Ocular Therapeutix by 43.9% during the 4th quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company's stock worth $25,073,000 after acquiring an additional 895,304 shares during the period. Peregrine Capital Management LLC acquired a new stake in Ocular Therapeutix during the 1st quarter worth about $6,212,000. Finally, Millennium Management LLC acquired a new stake in Ocular Therapeutix during the 4th quarter worth about $3,819,000. Institutional investors and hedge funds own 59.21% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Needham & Company LLC dropped their target price on Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. JMP Securities set a $19.00 target price on Ocular Therapeutix in a research report on Tuesday, March 4th. William Blair assumed coverage on Ocular Therapeutix in a research report on Tuesday, April 8th. They set an "outperform" rating on the stock. HC Wainwright reaffirmed a "buy" rating and set a $15.00 target price on shares of Ocular Therapeutix in a research report on Thursday. Finally, Royal Bank of Canada assumed coverage on Ocular Therapeutix in a research report on Tuesday, March 18th. They set an "outperform" rating and a $17.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $16.25.

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.