Candriam S.C.A. Grows Holdings in Ocular Therapeutix, Inc. $OCUL

Candriam S.C.A. lifted its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 12.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 949,216 shares of the biopharmaceutical company’s stock after acquiring an additional 107,614 shares during the quarter. Candriam S.C.A.’s holdings in Ocular Therapeutix were worth $8,040,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its holdings in Ocular Therapeutix by 124.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 1,242 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in Ocular Therapeutix during the fourth quarter worth $31,000. Hilton Head Capital Partners LLC lifted its stake in Ocular Therapeutix by 30.4% during the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,053 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new position in Ocular Therapeutix during the fourth quarter worth $61,000. Finally, KBC Group NV purchased a new position in shares of Ocular Therapeutix during the fourth quarter worth $78,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Price Performance

Ocular Therapeutix stock opened at $10.20 on Monday. The stock has a market cap of $2.23 billion, a P/E ratio of -6.99 and a beta of 0.88. The company has a fifty day simple moving average of $9.19 and a 200-day simple moving average of $9.50. Ocular Therapeutix, Inc. has a 12-month low of $6.23 and a 12-month high of $16.44. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12.

Insider Activity at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,156 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the sale, the insider owned 2,597,170 shares of the company’s stock, valued at approximately $21,296,794. This trade represents a 0.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 28,999 shares of company stock valued at $237,792. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

OCUL has been the subject of a number of research reports. Chardan Capital lifted their price objective on Ocular Therapeutix from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Robert W. Baird increased their target price on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Royal Bank Of Canada restated an “outperform” rating and set a $30.00 target price on shares of Ocular Therapeutix in a report on Wednesday, May 6th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a research report on Thursday, June 18th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.11.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.