Ocular Therapeutix (NASDAQ:OCUL) Trading Down 6.5% on Analyst Downgrade

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report)'s stock price traded down 6.5% during mid-day trading on Tuesday after Needham & Company LLC lowered their price target on the stock from $15.00 to $14.00. Needham & Company LLC currently has a buy rating on the stock. Ocular Therapeutix traded as low as $7.31 and last traded at $7.23. 463,332 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 1,387,175 shares. The stock had previously closed at $7.73.

A number of other analysts also recently issued reports 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 target price for the company. William Blair started coverage on shares of Ocular Therapeutix in a research note on Tuesday, April 8th. They issued an "outperform" rating for the company. JMP Securities set a $19.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Finally, HC Wainwright restated a "buy" rating and set a $15.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $16.25.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $6.87, for a total value of $147,533.25. Following the transaction, the insider now owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. The trade was a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of Ocular Therapeutix

Several institutional investors and hedge funds have recently bought and sold shares of OCUL. Deep Track Capital LP increased its holdings in shares of Ocular Therapeutix by 0.9% in the 4th quarter. Deep Track Capital LP now owns 12,836,282 shares of the biopharmaceutical company's stock valued at $109,622,000 after purchasing an additional 114,822 shares during the period. Vanguard Group Inc. raised its position in shares of Ocular Therapeutix by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,483,913 shares of the biopharmaceutical company's stock valued at $72,453,000 after purchasing an additional 99,730 shares during the period. Point72 Asset Management L.P. grew its holdings in Ocular Therapeutix by 43.9% in the 4th quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company's stock valued at $25,073,000 after buying an additional 895,304 shares during the last quarter. Deltec Asset Management LLC lifted its holdings in shares of Ocular Therapeutix by 3.8% during the first 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 last quarter. Finally, Artisan Partners Limited Partnership grew its stake in shares of Ocular Therapeutix by 26.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,334,702 shares of the biopharmaceutical company's stock worth $11,398,000 after acquiring an additional 278,610 shares during the last quarter. Institutional investors and hedge funds own 59.21% of the company's stock.

Ocular Therapeutix Price Performance

The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.15 billion, a P/E ratio of -5.46 and a beta of 1.51. The stock's 50-day moving average is $7.41 and its 200-day moving average is $8.36.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The firm had revenue of $17.08 million for the quarter, compared to analyst estimates of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. As a group, equities analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

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.

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