Ocular Therapeutix (NASDAQ:OCUL) Insider Jeffrey Heier Sells 10,502 Shares

Key Points

• Ocular Therapeutix insider Jeffrey Heier sold 10,502 shares at an average price of $11.04, reducing his ownership by 4.04% to a total of 249,409 shares.
• The biopharmaceutical company reported a loss of $0.39 earnings per share for their last quarter, missing estimates, while revenue fell 17.7% year-over-year.
• Recent analyst reports show notable price target increases, with Piper Sandler raising their target from $21.00 to $31.00 and JMP Securities from $20.00 to $29.00, indicating optimistic sentiment towards Ocular Therapeutix.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) insider Jeffrey Heier sold 10,502 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $11.04, for a total transaction of $115,942.08. Following the completion of the sale, the insider directly owned 249,409 shares in the company, valued at approximately $2,753,475.36. The trade was a 4.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Ocular Therapeutix Price Performance

NASDAQ OCUL traded down $0.44 on Monday, reaching $10.97. 3,659,926 shares of the company's stock traded hands, compared to its average volume of 1,994,939. Ocular Therapeutix, Inc. has a 12 month low of $5.78 and a 12 month high of $13.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 10.10 and a quick ratio of 10.02. The stock has a 50-day simple moving average of $12.30 and a 200 day simple moving average of $9.75. The stock has a market cap of $1.91 billion, a PE ratio of -8.57 and a beta of 1.45.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The firm had revenue of $13.46 million during the quarter, compared to the consensus estimate of $13.12 million. Ocular Therapeutix had a negative return on equity of 71.92% and a negative net margin of 382.51%.The firm's revenue for the quarter was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.26) EPS. As a group, research analysts predict that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on OCUL shares. Scotiabank cut their price objective on Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating for the company in a research note on Wednesday, August 6th. Piper Sandler increased their price target on Ocular Therapeutix from $21.00 to $31.00 and gave the company an "overweight" rating in a report on Friday. JMP Securities raised their price target on Ocular Therapeutix from $20.00 to $29.00 and gave the company a "market outperform" rating in a research note on Wednesday, October 1st. Needham & Company LLC raised their price target on Ocular Therapeutix from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, October 1st. Finally, Citigroup reissued an "outperform" rating on shares of Ocular Therapeutix in a report on Wednesday, October 1st. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $22.13.

Institutional Trading of Ocular Therapeutix

A number of institutional investors have recently made changes to their positions in OCUL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Ocular Therapeutix by 48.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 218,588 shares of the biopharmaceutical company's stock worth $1,867,000 after acquiring an additional 70,904 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Ocular Therapeutix by 6,760.0% in the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company's stock worth $60,000 after acquiring an additional 8,112 shares during the last quarter. Rhumbline Advisers boosted its stake in Ocular Therapeutix by 4.5% during the first quarter. Rhumbline Advisers now owns 223,115 shares of the biopharmaceutical company's stock worth $1,635,000 after buying an additional 9,514 shares during the last quarter. Courier Capital LLC boosted its stake in Ocular Therapeutix by 173.3% during the first quarter. Courier Capital LLC now owns 154,266 shares of the biopharmaceutical company's stock worth $1,131,000 after buying an additional 97,828 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Ocular Therapeutix during the first quarter worth $2,505,000. 59.21% of the stock is owned by institutional investors and hedge funds.

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.

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