Jeffrey Heier Sells 3,296 Shares of Ocular Therapeutix (NASDAQ:OCUL) Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Jeffrey Heier sold 3,296 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $10.78, for a total transaction of $35,530.88. Following the transaction, the insider directly owned 318,326 shares in the company, valued at approximately $3,431,554.28. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 Up 0.5%

Shares of NASDAQ OCUL opened at $10.82 on Friday. The firm has a fifty day simple moving average of $9.66 and a two-hundred day simple moving average of $9.16. 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 13.10, a quick ratio of 13.03 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2.38 billion, a PE ratio of -7.62 and a beta of 0.93.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The firm had revenue of $13.47 million for the quarter, compared to analyst estimates of $13.20 million. During the same quarter in the previous year, the firm posted ($0.39) EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts expect that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current year.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hilton Head Capital Partners LLC lifted its holdings in shares of 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 grew its stake in shares of 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 worth $27,000 after buying an additional 1,242 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Ocular Therapeutix by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock worth $674,000 after buying an additional 1,314 shares during the last quarter. Rafferty Asset Management LLC grew its stake in shares of Ocular Therapeutix by 21.2% in the 2nd quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock worth $124,000 after buying an additional 2,343 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in Ocular Therapeutix during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wall Street Zen upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Chardan Capital restated a “buy” rating and issued a $23.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, August 4th. Zacks Research upgraded Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. Finally, HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Eleven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.75.

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.