Ocular Therapeutix (NASDAQ:OCUL) Releases Earnings Results, Misses Expectations By $0.04 EPS

Key Points

• Ocular Therapeutix reported a quarterly loss of ($0.39) per share, missing consensus estimates by ($0.04), while revenue increased slightly to $13.46 million.
• The company's stock fell by $0.92 to close at $11.43, with trading volume notably exceeding its average.
• Despite recent insider selling, analysts maintain a generally positive outlook, with multiple firms issuing "buy" ratings and an average price target of $17.33.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) announced its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.04), Zacks reports. The firm had revenue of $13.46 million during the quarter, compared to analyst estimates of $13.12 million. Ocular Therapeutix had a negative net margin of 323.09% and a negative return on equity of 59.92%. The business's revenue was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.26) earnings per share.

Ocular Therapeutix Stock Performance

Shares of OCUL stock traded down $0.92 on Tuesday, reaching $11.43. The stock had a trading volume of 2,541,586 shares, compared to its average volume of 1,760,881. Ocular Therapeutix has a 12 month low of $5.78 and a 12 month high of $12.35. The company has a quick ratio of 10.14, a current ratio of 10.22 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -9.92 and a beta of 1.49. The firm's 50-day moving average is $9.81 and its two-hundred day moving average is $8.26.

Insider Buying and Selling

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,219 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $7.18, for a total transaction of $152,352.42. Following the completion of the sale, the insider owned 3,499,099 shares of the company's stock, valued at $25,123,530.82. This trade represents a 0.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard L. Md Lindstrom acquired 10,000 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was bought at an average price of $6.96 per share, for a total transaction of $69,600.00. Following the completion of the acquisition, the director owned 172,704 shares of the company's stock, valued at approximately $1,202,019.84. The trade was a 6.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 29,079 shares of company stock worth $208,739. Company insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Ocular Therapeutix

A hedge fund recently bought a new stake in Ocular Therapeutix stock. Caxton Associates LLP acquired a new position in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 33,821 shares of the biopharmaceutical company's stock, valued at approximately $248,000. Hedge funds and other institutional investors own 59.21% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OCUL. HC Wainwright reiterated a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a report on Thursday, May 29th. William Blair started coverage on Ocular Therapeutix in a research note on Tuesday, April 8th. They issued an "outperform" rating for the company. Finally, Needham & Company LLC cut their price objective on Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $17.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.