Ocular Therapeutix (NASDAQ:OCUL) Sets New 1-Year Low – Time to Sell?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $6.16 and last traded at $6.3820, with a volume of 852,663 shares trading hands. The stock had previously closed at $6.87.

Wall Street Analyst Weigh In

OCUL has been the subject of a number of recent research reports. Zacks Research upgraded shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Wall Street Zen upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a report on Tuesday, September 29th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, September 29th. Finally, UBS Group began coverage on Ocular Therapeutix in a research report on Sunday, October 11th. They set a “buy” rating and a $14.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given 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 a consensus target price of $22.86.

Ocular Therapeutix Stock Down 5.8%

The company has a debt-to-equity ratio of 0.14, a current ratio of 13.10 and a quick ratio of 13.03. The business’s 50 day simple moving average is $9.56 and its 200 day simple moving average is $9.24. The company has a market capitalization of $1.42 billion, a PE ratio of -4.57 and a beta of 1.00.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $13.47 million for the quarter, compared to analyst estimates of $13.20 million. During the same period in the previous year, the business posted ($0.39) EPS. Ocular Therapeutix’s revenue was down .1% on a year-over-year basis. As a group, analysts anticipate that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current fiscal year.

Insider Activity at Ocular Therapeutix

In other news, insider Jeffrey S. Heier sold 10,869 shares of Ocular Therapeutix stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $7.05, for a total value of $76,626.45. Following the completion of the sale, the insider directly owned 307,457 shares of the company’s stock, valued at approximately $2,167,571.85. The trade was a 3.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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. Also, insider Peter Kaiser sold 9,990 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $7.05, for a total transaction of $70,429.50. Following the sale, the insider directly owned 254,388 shares in the company, valued at $1,793,435.40. This represents a 3.78% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last ninety days, insiders sold 62,720 shares of company stock worth $556,247. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of Ocular Therapeutix

Large investors have recently modified their holdings of the stock. Engineers Gate Manager LP purchased a new stake in Ocular Therapeutix during the 2nd quarter worth about $401,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Ocular Therapeutix during the 2nd quarter worth $51,000. NewEdge Advisors LLC grew its stake in shares of Ocular Therapeutix by 21.7% during the second quarter. NewEdge Advisors LLC now owns 16,725 shares of the biopharmaceutical company’s stock worth $164,000 after purchasing an additional 2,979 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Ocular Therapeutix by 44.4% during the second quarter. Squarepoint Ops LLC now owns 1,415,913 shares of the biopharmaceutical company’s stock worth $13,904,000 after purchasing an additional 435,156 shares in the last quarter. Finally, Second Line Capital LLC grew its stake in shares of Ocular Therapeutix by 20.9% during the second quarter. Second Line Capital LLC now owns 638,640 shares of the biopharmaceutical company’s stock worth $6,271,000 after purchasing an additional 110,350 shares in the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based formulation and delivery technologies to create sustained-release treatments intended to improve drug delivery, reduce dosing frequency and address unmet needs in ophthalmology.

Its commercial product is DEXTENZA, a corticosteroid ophthalmic insert that is placed in the canaliculus by a healthcare professional.