Ocular Therapeutix (NASDAQ:OCUL) Posts Earnings Results, Misses Estimates 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) released its earnings results on Tuesday. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.04), Zacks reports. Ocular Therapeutix had a negative return on equity of 71.92% and a negative net margin of 382.51%. The company had revenue of $13.46 million during the quarter, compared to analysts' expectations of $13.12 million. During the same quarter in the previous year, the company earned ($0.26) EPS. The firm's quarterly revenue was down 17.7% compared to the same quarter last year.

Ocular Therapeutix Stock Performance

NASDAQ:OCUL traded down $0.09 during midday trading on Friday, reaching $12.21. The stock had a trading volume of 2,019,053 shares, compared to its average volume of 2,064,826. Ocular Therapeutix has a 1-year low of $5.78 and a 1-year high of $12.65. The firm's fifty day simple moving average is $10.17 and its 200-day simple moving average is $8.38. The company has a debt-to-equity ratio of 0.23, a current ratio of 10.10 and a quick ratio of 10.14. The stock has a market capitalization of $2.12 billion, a P/E ratio of -9.54 and a beta of 1.49.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on OCUL shares. HC Wainwright reiterated a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research report on Thursday, May 29th. Needham & Company LLC increased their price target on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Scotiabank dropped their price target on shares of Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating on the stock in a research note on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $17.20.

Insider Transactions at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,219 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $7.18, for a total value of $152,352.42. Following the transaction, the insider directly owned 3,499,099 shares in the company, valued at approximately $25,123,530.82. This trade represents a 0.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 29,079 shares of company stock valued at $208,739. Company insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Caxton Associates LLP acquired a new stake in Ocular Therapeutix in the 1st quarter worth $248,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Ocular Therapeutix by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company's stock worth $686,000 after purchasing an additional 5,156 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of Ocular Therapeutix by 21.5% during the 2nd quarter. Creative Planning now owns 21,410 shares of the biopharmaceutical company's stock worth $199,000 after acquiring an additional 3,791 shares during the period. 59.21% of the stock is currently 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.