Ocular Therapeutix (NASDAQ:OCUL) Shares Down 9.2%

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) shares dropped 9.2% on Thursday . The stock traded as low as $6.88 and last traded at $6.88. Approximately 425,027 shares were traded during trading, a decline of 78% from the average daily volume of 1,943,824 shares. The stock had previously closed at $7.58.

Wall Street Analysts Forecast Growth

OCUL has been the subject of several research reports. Piper Sandler increased their price target on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the company an "overweight" rating in a research report on Monday, February 26th. JMP Securities restated a "market outperform" rating and issued a $24.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday. Bank of America started coverage on shares of Ocular Therapeutix in a research report on Friday, February 9th. They issued a "buy" rating and a $15.00 price objective for the company. StockNews.com lowered shares of Ocular Therapeutix from a "hold" rating to a "sell" rating in a research report on Friday, April 5th. Finally, HC Wainwright restated a "buy" rating and issued a $12.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Ocular Therapeutix has a consensus rating of "Moderate Buy" and an average price target of $16.80.

Ocular Therapeutix Price Performance

The business's 50 day moving average is $8.74 and its two-hundred day moving average is $5.29. The firm has a market capitalization of $870.97 million, a PE ratio of -5.03 and a beta of 1.30. The company has a debt-to-equity ratio of 0.82, a current ratio of 6.66 and a quick ratio of 6.59.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.28). The business had revenue of $14.80 million for the quarter, compared to the consensus estimate of $15.31 million. Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. As a group, research analysts anticipate that Ocular Therapeutix, Inc. will post -0.68 EPS for the current year.

Insiders Place Their Bets

In other Ocular Therapeutix news, major shareholder Summer Road Llc purchased 930,851 shares of the firm's stock in a transaction on Monday, February 26th. The shares were purchased at an average cost of $7.52 per share, with a total value of $6,999,999.52. Following the completion of the purchase, the insider now owns 8,591,401 shares of the company's stock, valued at approximately $64,607,335.52. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Ocular Therapeutix news, major shareholder Summer Road Llc purchased 930,851 shares of the firm's stock in a transaction on Monday, February 26th. The shares were purchased at an average cost of $7.52 per share, with a total value of $6,999,999.52. Following the completion of the purchase, the insider now owns 8,591,401 shares of the company's stock, valued at approximately $64,607,335.52. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Donald Notman sold 6,433 shares of Ocular Therapeutix stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $31,843.35. Following the transaction, the chief financial officer now directly owns 139,932 shares in the company, valued at $692,663.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,366 shares of company stock valued at $194,862. 5.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OCUL. Deltec Asset Management LLC boosted its holdings in shares of Ocular Therapeutix by 18.5% during the 4th quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company's stock valued at $10,898,000 after buying an additional 381,810 shares in the last quarter. Legato Capital Management LLC purchased a new position in Ocular Therapeutix in the 4th quarter worth about $667,000. China Universal Asset Management Co. Ltd. raised its position in Ocular Therapeutix by 350.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company's stock worth $41,000 after buying an additional 7,152 shares during the last quarter. GSA Capital Partners LLP raised its position in Ocular Therapeutix by 96.4% in the 3rd quarter. GSA Capital Partners LLP now owns 233,582 shares of the biopharmaceutical company's stock worth $733,000 after buying an additional 114,629 shares during the last quarter. Finally, Graham Capital Management L.P. bought a new position in shares of Ocular Therapeutix in the 3rd quarter worth approximately $299,000. Institutional investors own 59.21% of the company's stock.

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.