Ocular Therapeutix (NASDAQ:OCUL) Shares Down 7.2% - Time to Sell?

Key Points

• Shares dropped 7.2% to $8.64 (intraday low $8.71) on Friday with just 925,715 shares traded — roughly 85% below the average session volume — and the stock is trading under its 200-day moving average of $10.84.
• Quarterly results showed EPS of -$0.29 (slightly beating consensus) but revenue missed at $13.25M vs. $16.13M expected, down 22.4% year-over-year and accompanied by a deeply negative net margin and ROE.
• Analysts are mixed but biased positive: 12 Buys, 1 Hold, 1 Sell and a MarketBeat average rating of "Moderate Buy" with an average price target of $23.78, implying substantial upside from current levels.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report)'s stock price fell 7.2% on Friday . The stock traded as low as $8.71 and last traded at $8.6350. 925,715 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 6,029,468 shares. The stock had previously closed at $9.30.

Analysts Set New Price Targets

Several research firms have weighed in on OCUL. Wall Street Zen lowered Ocular Therapeutix from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. William Blair reissued an "outperform" rating on shares of Ocular Therapeutix in a research note on Monday, March 2nd. Chardan Capital reissued a "buy" rating and issued a $21.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, February 18th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ocular Therapeutix in a research note on Thursday, January 22nd. Finally, Citigroup reissued an "outperform" rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $23.78.

Ocular Therapeutix Stock Performance

The company has a market cap of $1.91 billion, a price-to-earnings ratio of -6.08 and a beta of 0.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 15.39 and a quick ratio of 15.32. The stock has a 50-day moving average price of $8.80 and a 200 day moving average price of $10.84.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.04. The company had revenue of $13.25 million for the quarter, compared to analyst estimates of $16.13 million. Ocular Therapeutix had a negative return on equity of 70.68% and a negative net margin of 511.90%.Ocular Therapeutix's revenue was down 22.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.29) earnings per share. As a group, analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity at Ocular Therapeutix

In other news, insider Sanjay Nayak sold 10,348 shares of the firm's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $9.04, for a total transaction of $93,545.92. Following the sale, the insider owned 332,412 shares of the company's stock, valued at $3,005,004.48. This trade represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard L. Md Lindstrom purchased 60,229 shares of the company's stock in a transaction dated Friday, February 20th. The shares were acquired at an average cost of $7.66 per share, for a total transaction of $461,354.14. Following the transaction, the director owned 246,933 shares of the company's stock, valued at $1,891,506.78. This trade represents a 32.26% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 197,221 shares of company stock valued at $1,754,805 over the last 90 days. Insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OCUL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Ocular Therapeutix by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company's stock worth $686,000 after buying an additional 5,156 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Ocular Therapeutix during the first quarter worth about $248,000. Creative Planning grew its holdings in shares of Ocular Therapeutix by 21.5% during the second quarter. Creative Planning now owns 21,410 shares of the biopharmaceutical company's stock worth $199,000 after buying an additional 3,791 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Ocular Therapeutix by 110.8% during the second quarter. JPMorgan Chase & Co. now owns 712,100 shares of the biopharmaceutical company's stock worth $6,608,000 after buying an additional 374,269 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Ocular Therapeutix by 57.9% during the second quarter. Prudential Financial Inc. now owns 18,700 shares of the biopharmaceutical company's stock worth $174,000 after buying an additional 6,855 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company's flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.

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