Ocular Therapeutix (NASDAQ:OCUL) Stock Price Down 5.2% - Here's Why

Key Points

• Ocular Therapeutix shares fell 5.2% to $11.08, with a trading volume increase of 23% compared to the average, indicating heightened market activity.
• Several analysts have adjusted their price targets for Ocular Therapeutix, with Scotiabank lowering their target from $22.00 to $20.00, while Needham & Company LLC increased theirs from $15.00 to $20.00.
• The company's recent quarterly earnings showed a missing EPS estimate of ($0.39), alongside a revenue of $13.46 million, marking a 17.7% decline from the previous year.

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) fell 5.2% during trading on Wednesday . The company traded as low as $11.23 and last traded at $11.08. 2,348,886 shares changed hands during mid-day trading, an increase of 23% from the average session volume of 1,904,525 shares. The stock had previously closed at $11.69.

Analysts Set New Price Targets

A number of research firms have commented on OCUL. Scotiabank cut their price target on shares of Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating for the company in a research note on Wednesday, August 6th. Chardan Capital began coverage on shares of Ocular Therapeutix in a research note on Monday, September 15th. They issued a "buy" rating and a $21.00 price target for the company. Citigroup reissued an "outperform" rating on shares of Ocular Therapeutix in a research note on Wednesday. Needham & Company LLC boosted their price objective on shares of Ocular Therapeutix from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, JMP Securities boosted their price objective on shares of Ocular Therapeutix from $20.00 to $29.00 and gave the stock a "market outperform" rating in a report on Wednesday. Eight analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $20.33.

Ocular Therapeutix Trading Down 5.8%

The stock has a market capitalization of $1.92 billion, a P/E ratio of -8.66 and a beta of 1.50. The company has a current ratio of 10.10, a quick ratio of 10.02 and a debt-to-equity ratio of 0.23. The stock's fifty day moving average price is $12.35 and its two-hundred day moving average price is $9.66.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $13.12 million. During the same quarter in the prior year, the company earned ($0.26) earnings per share. The company's quarterly revenue was down 17.7% compared to the same quarter last year. Equities research analysts forecast that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

Insider Activity at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,494 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $12.04, for a total transaction of $258,787.76. Following the completion of the sale, the insider directly owned 3,227,244 shares in the company, valued at $38,856,017.76. This represents a 0.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Peter Kaiser sold 3,011 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $12.04, for a total transaction of $36,252.44. Following the sale, the insider owned 204,093 shares of the company's stock, valued at $2,457,279.72. This represents a 1.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,519 shares of company stock worth $367,865 in the last three months. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its position in Ocular Therapeutix by 62.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 1,392 shares during the period. Brooklyn Investment Group increased its position in Ocular Therapeutix by 151.5% during the 1st quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company's stock valued at $38,000 after purchasing an additional 3,155 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Ocular Therapeutix by 17.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company's stock valued at $57,000 after purchasing an additional 893 shares during the period. Trust Co. of Vermont increased its position in Ocular Therapeutix by 16.1% during the 2nd quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company's stock valued at $67,000 after purchasing an additional 1,000 shares during the period. Finally, GAMMA Investing LLC increased its position in Ocular Therapeutix by 6,760.0% during the 1st quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company's stock valued at $60,000 after purchasing an additional 8,112 shares during the period. 59.21% of the stock is currently owned by institutional investors.

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.

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