Adage Capital Partners GP L.L.C. Trims Stock Position in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Adage Capital Partners GP L.L.C. reduced its holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,600,000 shares of the biopharmaceutical company's stock after selling 150,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 2.29% of Ocular Therapeutix worth $30,744,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Hsbc Holdings PLC lifted its holdings in shares of Ocular Therapeutix by 47.8% in the 4th quarter. Hsbc Holdings PLC now owns 18,101 shares of the biopharmaceutical company's stock worth $152,000 after purchasing an additional 5,853 shares in the last quarter. Tower Research Capital LLC TRC lifted 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 buying an additional 8,446 shares in the last quarter. MetLife Investment Management LLC lifted 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 buying an additional 2,454 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Ocular Therapeutix in the fourth quarter valued at $1,819,000. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Ocular Therapeutix by 152.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 30,227 shares of the biopharmaceutical company's stock valued at $258,000 after buying an additional 18,251 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, insider Donald Notman sold 11,119 shares of Ocular Therapeutix stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total value of $86,839.39. Following the completion of the transaction, the insider now owns 193,444 shares in the company, valued at $1,510,797.64. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.87, for a total transaction of $147,533.25. Following the completion of the transaction, the insider now owns 3,520,318 shares of the company's stock, valued at $24,184,584.66. The trade was a 0.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,895 shares of company stock worth $283,772. Insiders own 3.50% of the company's stock.

Ocular Therapeutix Stock Performance

NASDAQ OCUL traded up $0.14 during trading hours on Thursday, reaching $8.44. 408,856 shares of the company were exchanged, compared to its average volume of 1,459,351. Ocular Therapeutix, Inc. has a 1 year low of $4.79 and a 1 year high of $11.78. The business's 50 day simple moving average is $7.32 and its 200-day simple moving average is $8.45. 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 stock has a market capitalization of $1.34 billion, a P/E ratio of -6.42 and a beta of 1.49.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. The company had revenue of $17.08 million for the quarter, compared to analysts' expectations of $16.89 million. On average, equities research analysts expect that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Ocular Therapeutix 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.