Ocular Therapeutix (NASDAQ:OCUL) Insider Sells $20,449.66 in Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Sanjay Nayak sold 1,897 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $10.78, for a total value of $20,449.66. Following the transaction, the insider owned 326,898 shares in the company, valued at $3,523,960.44. The trade was a 0.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 Performance

Shares of OCUL stock opened at $10.36 on Friday. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -7.30 and a beta of 0.93. The stock has a 50 day simple moving average of $9.68 and a 200-day simple moving average of $9.17. 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.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly 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 return on equity of 59.89% and a negative net margin of 579.10%.The firm had revenue of $13.47 million for the quarter, compared to the consensus estimate of $13.20 million. During the same period in the previous year, the business earned ($0.39) earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts forecast that Ocular Therapeutix, Inc. will post -1.47 EPS for the current year.

Institutional Investors Weigh In On Ocular Therapeutix

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Ocular Therapeutix in the 2nd quarter valued at about $190,278,000. Millennium Management LLC raised its position in Ocular Therapeutix by 3,136.1% during the third quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock worth $45,073,000 after acquiring an additional 3,736,560 shares during the last quarter. Alliancebernstein L.P. raised its position in Ocular Therapeutix by 2,003.2% during the third quarter. Alliancebernstein L.P. now owns 3,424,439 shares of the biopharmaceutical company’s stock worth $40,032,000 after acquiring an additional 3,261,619 shares during the last quarter. Commodore Capital LP purchased a new stake in shares of Ocular Therapeutix in the first quarter valued at about $21,810,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Ocular Therapeutix by 26.3% in the fourth quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock valued at $140,523,000 after purchasing an additional 2,411,953 shares in the last quarter. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OCUL has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and set a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a research report on Thursday, June 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Zacks Research upgraded shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Eleven 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.