Ocular Therapeutix (NASDAQ:OCUL) Insider Peter Kaiser Sells 3,035 Shares of Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Peter Kaiser sold 3,035 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $10.77, for a total transaction of $32,686.95. Following the transaction, the insider directly owned 264,378 shares of the company’s stock, valued at $2,847,351.06. This trade represents a 1.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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.

Ocular Therapeutix Stock Down 1.0%

Shares of OCUL opened at $10.77 on Thursday. Ocular Therapeutix, Inc. has a fifty-two week low of $6.23 and a fifty-two week high of $16.44. The company’s fifty day moving average is $9.63 and its two-hundred day moving average is $9.15. The firm has a market cap of $2.37 billion, a PE ratio of -7.58 and a beta of 0.93. The company has a quick ratio of 13.03, a current ratio of 13.10 and a debt-to-equity ratio of 0.14.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%.The business had revenue of $13.47 million during the quarter, compared to the consensus estimate of $13.20 million. During the same period in the prior year, the firm posted ($0.39) EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. Analysts forecast that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OCUL has been the subject of a number of research analyst reports. Zacks Research raised shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Friday, July 17th. Robert W. Baird upped their price target on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 price target on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Finally, Chardan Capital restated a “buy” rating and set a $23.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, August 4th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.75.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OCUL. Hilton Head Capital Partners LLC increased 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 valued at $38,000 after purchasing an additional 1,053 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Ocular Therapeutix by 124.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 1,242 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Ocular Therapeutix by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock valued at $674,000 after acquiring an additional 1,314 shares during the period. Rafferty Asset Management LLC grew its holdings in shares of Ocular Therapeutix by 21.2% during the second quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock valued at $124,000 after purchasing an additional 2,343 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Ocular Therapeutix during the fourth quarter valued at approximately $31,000. 59.21% of the stock is owned by institutional investors and hedge funds.

About Ocular Therapeutix

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.