Ocular Therapeutix (NASDAQ:OCUL) Shares Down 5% - Here's Why

Key Points

• Ocular Therapeutix's stock price fell 5% to $12.07, with trading volume dropping by 62% compared to its average.
• The company reported a quarterly EPS of ($0.39), missing expectations, while revenue was down 17.7% year-over-year.
• Despite the decline, several analysts have assigned a "buy" rating, with target prices ranging from $15.00 to $21.00, indicating a consensus price target of $17.83.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) traded down 5% during mid-day trading on Friday . The stock traded as low as $12.12 and last traded at $12.07. 704,739 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 1,853,521 shares. The stock had previously closed at $12.71.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OCUL. Needham & Company LLC boosted their price objective on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research note on Thursday, May 29th. Chardan Capital began coverage on Ocular Therapeutix in a research note on Monday, September 15th. They issued a "buy" rating and a $21.00 price target on the stock. Finally, Scotiabank reduced their price objective on Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating for the company in a research report on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $17.83.

Ocular Therapeutix Price Performance

The firm's 50 day moving average price is $12.24 and its two-hundred day moving average price is $9.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 10.02 and a current ratio of 10.10.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.04). Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. The firm had revenue of $13.46 million during the quarter, compared to the consensus estimate of $13.12 million. During the same period in the prior year, the business posted ($0.26) earnings per share. Ocular Therapeutix's quarterly revenue was down 17.7% compared to the same quarter last year. As a group, sell-side analysts expect that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jeffrey S. Heier sold 3,063 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $12.04, for a total transaction of $36,878.52. Following the transaction, the insider owned 259,911 shares in the company, valued at approximately $3,129,328.44. This trade represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Kaiser sold 3,011 shares of the business's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $12.04, for a total transaction of $36,252.44. Following the completion of the sale, the insider directly owned 204,093 shares of the company's stock, valued at $2,457,279.72. This represents a 1.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,519 shares of company stock valued at $367,865 over the last ninety days. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OCUL. GF Fund Management CO. LTD. acquired a new position in Ocular Therapeutix during the fourth quarter worth about $28,000. Nisa Investment Advisors LLC raised its stake in Ocular Therapeutix by 62.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company's stock worth $33,000 after acquiring an additional 1,392 shares in the last quarter. Brooklyn Investment Group raised its stake in Ocular Therapeutix by 151.5% during the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company's stock worth $38,000 after acquiring an additional 3,155 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Ocular Therapeutix by 17.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company's stock worth $57,000 after acquiring an additional 893 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Ocular Therapeutix by 6,760.0% during the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company's stock worth $60,000 after acquiring an additional 8,112 shares in the last quarter. Institutional investors and hedge funds own 59.21% of the company's stock.

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.