Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Down - Here's Why

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $8.80, but opened at $8.01. Ocular Therapeutix shares last traded at $7.81, with a volume of 562,228 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Royal Bank of Canada assumed coverage on Ocular Therapeutix in a report on Tuesday, March 18th. They set an "outperform" rating and a $17.00 target price for the company. HC Wainwright restated a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. JMP Securities set a $19.00 price target on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Needham & Company LLC lowered their price target on Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, William Blair started coverage on Ocular Therapeutix in a report on Tuesday, April 8th. They issued an "outperform" rating on the stock. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $16.25.

Ocular Therapeutix Price Performance

The company's fifty day moving average is $7.42 and its two-hundred day moving average is $8.35. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -5.26 and a beta of 1.51. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19.

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 firm had revenue of $17.08 million for the quarter, compared to the consensus estimate of $16.89 million. Equities research analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Pravin Dugel sold 21,475 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $6.87, for a total transaction of $147,533.25. Following the transaction, the insider now directly owns 3,520,318 shares in the company, valued at $24,184,584.66. The trade was a 0.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Ocular Therapeutix

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd increased its holdings in shares of Ocular Therapeutix by 95.0% in the first quarter. XTX Topco Ltd now owns 22,605 shares of the biopharmaceutical company's stock valued at $166,000 after purchasing an additional 11,012 shares during the last quarter. Graypoint LLC bought a new position in shares of Ocular Therapeutix during the first quarter worth approximately $148,000. Vontobel Holding Ltd. acquired a new stake in Ocular Therapeutix during the 1st quarter worth approximately $79,000. Peregrine Capital Management LLC acquired a new position in Ocular Therapeutix in the 1st quarter valued at $6,212,000. Finally, Deltec Asset Management LLC increased its position in Ocular Therapeutix by 3.8% during the 1st quarter. Deltec Asset Management LLC now owns 2,716,373 shares of the biopharmaceutical company's stock worth $19,911,000 after buying an additional 100,000 shares during the period. Institutional investors 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.