Ocular Therapeutix (NASDAQ:OCUL) Stock Price Down 4.8% on Insider Selling

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) dropped 4.8% on Tuesday following insider selling activity. The company traded as low as $6.98 and last traded at $6.95. Approximately 1,154,350 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 1,421,460 shares. The stock had previously closed at $7.30.

Specifically, insider Pravin Dugel sold 21,219 shares of the 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 sale, the insider now owns 3,499,099 shares in the company, valued at $25,123,530.82. This represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OCUL. William Blair began coverage on shares of Ocular Therapeutix in a research note on Tuesday, April 8th. They issued an "outperform" rating on the stock. Royal Bank of Canada assumed coverage on shares of Ocular Therapeutix in a research report on Tuesday, March 18th. They set an "outperform" rating and a $17.00 price target on the stock. Needham & Company LLC dropped their price target on shares of Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. HC Wainwright restated a "buy" rating and set a $15.00 price target on shares of Ocular Therapeutix in a research report on Thursday. Finally, JMP Securities set a $19.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $16.25.

Ocular Therapeutix Trading Down 1.9%

The company's 50 day moving average price is $7.36 and its two-hundred day moving average price is $7.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The stock has a market capitalization of $1.27 billion, a PE ratio of -6.07 and a beta of 1.51.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its earnings results 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 business had revenue of $17.08 million for the quarter, compared to analyst estimates of $16.89 million. As a group, analysts expect that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Institutional Investors Weigh In On Ocular Therapeutix

Several hedge funds have recently made changes to their positions in the business. Rhumbline Advisers increased its holdings in Ocular Therapeutix by 4.5% in the first quarter. Rhumbline Advisers now owns 223,115 shares of the biopharmaceutical company's stock valued at $1,635,000 after buying an additional 9,514 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Ocular Therapeutix in the 1st quarter valued at $248,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 valued at $686,000 after purchasing an additional 5,156 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Ocular Therapeutix by 44.4% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 5,200,000 shares of the biopharmaceutical company's stock valued at $38,116,000 after purchasing an additional 1,600,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Ocular Therapeutix in the 1st quarter valued at $1,011,000. Institutional investors and hedge funds own 59.21% of the company's stock.

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.