Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) fell 6.5% during 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 trading, a decline of 67% from the average session volume of 1,387,175 shares. The stock had previously closed at $7.73.
Several other analysts also recently weighed in on the company. JMP Securities set a $19.00 price objective on Ocular Therapeutix in a research report on Tuesday, March 4th. 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 on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Finally, William Blair began coverage on shares of Ocular Therapeutix in a report on Tuesday, April 8th. They issued an "outperform" rating on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Ocular Therapeutix has a consensus rating of "Moderate Buy" and an average price target of $16.25.
View Our Latest Report on Ocular Therapeutix
Insider Buying and Selling
In related news, insider Pravin Dugel sold 21,475 shares of the firm'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 completion of the sale, the insider now directly owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This trade represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.50% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Barclays PLC lifted its stake in shares of Ocular Therapeutix by 37.1% in the 3rd quarter. Barclays PLC now owns 511,522 shares of the biopharmaceutical company's stock worth $4,451,000 after acquiring an additional 138,441 shares during the period. Courier Capital LLC purchased a new stake in shares of Ocular Therapeutix during the fourth quarter worth about $482,000. RoundAngle Advisors LLC purchased a new stake in Ocular Therapeutix in the 4th quarter valued at about $1,695,000. SG Americas Securities LLC boosted its holdings in Ocular Therapeutix by 58.7% in the fourth quarter. SG Americas Securities LLC now owns 71,698 shares of the biopharmaceutical company's stock valued at $612,000 after acquiring an additional 26,511 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in Ocular Therapeutix by 11.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company's stock valued at $285,000 after buying an additional 3,347 shares in the last quarter. Hedge funds and other institutional investors own 59.21% of the company's stock.
Ocular Therapeutix Stock Down 4.6 %
The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The firm has a 50-day simple moving average of $7.46 and a 200 day simple moving average of $8.27. The company has a market capitalization of $1.13 billion, a PE ratio of -5.39 and a beta of 1.51.
Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. The company had revenue of $17.08 million for the quarter, compared to the consensus estimate of $16.89 million. On average, research analysts predict that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.
About Ocular Therapeutix
(
Get Free Report)
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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