Invesco Ltd. Boosts Position in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Invesco Ltd. increased its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 890,046 shares of the biopharmaceutical company's stock after purchasing an additional 134,573 shares during the period. Invesco Ltd. owned approximately 0.57% of Ocular Therapeutix worth $7,601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of OCUL. Atlas Capital Advisors Inc. acquired a new stake in Ocular Therapeutix during the 4th quarter valued at $43,000. AlphaQuest LLC acquired a new stake in Ocular Therapeutix during the 4th quarter worth approximately $53,000. Palumbo Wealth Management LLC bought a new position in shares of Ocular Therapeutix during the fourth quarter worth about $100,000. Cibc World Markets Corp acquired a new stake in Ocular Therapeutix during the 4th quarter worth about $124,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Ocular Therapeutix in the 4th quarter valued at $149,000. 59.21% of the stock is currently owned by institutional investors.

Ocular Therapeutix Price Performance

OCUL traded up $0.09 during trading on Wednesday, hitting $8.30. 1,002,571 shares of the company traded hands, compared to its average volume of 1,463,394. The company has a market cap of $1.32 billion, a PE ratio of -6.29 and a beta of 1.49. The stock's 50-day simple moving average is $7.29 and its two-hundred day simple moving average is $8.45. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. Ocular Therapeutix, Inc. has a 1 year low of $4.79 and a 1 year high of $11.78.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The business had revenue of $17.08 million for the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Transactions at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,475 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the transaction, the insider now directly owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This represents a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donald Notman sold 6,301 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $7.84, for a total transaction of $49,399.84. Following the completion of the transaction, the insider now owns 204,563 shares in the company, valued at approximately $1,603,773.92. This represents a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,895 shares of company stock worth $283,772 over the last quarter. 3.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada started coverage on shares of Ocular Therapeutix in a report on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 target price on the stock. JMP Securities set a $19.00 price target on Ocular Therapeutix in a research report on Tuesday, March 4th. HC Wainwright reiterated a "buy" rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. William Blair started coverage on Ocular Therapeutix in a research note on Tuesday, April 8th. They issued an "outperform" rating on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, April 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.38.

About Ocular Therapeutix

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.