Ocular Therapeutix (NASDAQ:OCUL) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• Ocular Therapeutix received a "sell (D-)" rating from Weiss Ratings, while other analysts gave it buy ratings with increased price targets, reflecting mixed sentiments in the market.
• The company reported a net loss per share of ($0.39) in its last earnings report, missing estimates and showing a 17.7% year-over-year decline in revenue.
• Insider trading activity included significant sales by executives, with an insider decreasing their stake by approximately 4% in recent transactions.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report)'s stock had its "sell (d-)" rating reissued by research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other equities research analysts also recently issued reports on the stock. HC Wainwright lifted their price target on shares of Ocular Therapeutix from $15.00 to $19.00 and gave the company a "buy" rating in a research report on Wednesday. Needham & Company LLC lifted their price target on shares of Ocular Therapeutix from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, October 1st. Zacks Research upgraded shares of Ocular Therapeutix from a "strong sell" rating to a "hold" rating in a research report on Thursday, October 2nd. Scotiabank reduced their price target on shares of Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating for the company in a research report on Wednesday, August 6th. Finally, Robert W. Baird raised their price objective on shares of Ocular Therapeutix from $17.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, October 3rd. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.63.

Ocular Therapeutix Price Performance

Shares of NASDAQ:OCUL opened at $11.91 on Wednesday. The company has a quick ratio of 10.02, a current ratio of 10.10 and a debt-to-equity ratio of 0.23. The company has a market cap of $2.07 billion, a P/E ratio of -9.30 and a beta of 1.45. Ocular Therapeutix has a 52 week low of $5.78 and a 52 week high of $13.85. The company has a 50-day moving average price of $12.28 and a 200 day moving average price of $9.80.

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

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Peter Kaiser sold 9,653 shares of Ocular Therapeutix stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $11.03, for a total value of $106,472.59. Following the completion of the sale, the insider directly owned 194,440 shares of the company's stock, valued at approximately $2,144,673.20. The trade was a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey S. Heier sold 10,502 shares of Ocular Therapeutix stock in a transaction that occurred on 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 of the company's stock, valued at $2,753,475.36. The trade was a 4.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,674 shares of company stock valued at $590,279. Company insiders own 2.30% of the company's stock.

Institutional Trading of Ocular Therapeutix

Several institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ocular Therapeutix by 17.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company's stock valued at $57,000 after buying an additional 893 shares during the period. Trust Co. of Vermont grew its stake in shares of Ocular Therapeutix by 16.1% during the 2nd quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company's stock valued at $67,000 after buying an additional 1,000 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Ocular Therapeutix by 1.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company's stock valued at $674,000 after buying an additional 1,314 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Ocular Therapeutix by 62.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company's stock valued at $33,000 after buying an additional 1,392 shares during the period. Finally, Hsbc Holdings PLC grew its stake in shares of Ocular Therapeutix by 8.1% during the 1st quarter. Hsbc Holdings PLC now owns 19,573 shares of the biopharmaceutical company's stock valued at $141,000 after buying an additional 1,472 shares during the period. 59.21% of the stock is owned by hedge funds and other institutional investors.

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.

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