Ocular Therapeutix (NASDAQ:OCUL) Stock Price Down 5.9% – Should You Sell?

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s stock price fell 5.9% during trading on Friday . The company traded as low as $10.37 and last traded at $10.4670. 1,882,021 shares traded hands during trading, a decline of 65% from the average session volume of 5,389,653 shares. The stock had previously closed at $11.12.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. JMP Securities lifted their price target on shares of Ocular Therapeutix from $20.00 to $29.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 1st. Citigroup restated an “outperform” rating on shares of Ocular Therapeutix in a research note on Wednesday, October 1st. Zacks Research upgraded Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 2nd. Royal Bank Of Canada restated an “outperform” rating on shares of Ocular Therapeutix in a research note on Wednesday, November 5th. Finally, Wall Street Zen downgraded shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ocular Therapeutix currently has an average rating of “Moderate Buy” and an average target price of $22.56.

Ocular Therapeutix Price Performance

The stock has a 50 day simple moving average of $12.34 and a 200-day simple moving average of $12.03. The firm has a market cap of $2.18 billion, a PE ratio of -7.09 and a beta of 0.93. The company has a current ratio of 7.85, a quick ratio of 7.78 and a debt-to-equity ratio of 0.27.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. Ocular Therapeutix had a negative return on equity of 86.33% and a negative net margin of 447.57%.The company had revenue of $14.54 million for the quarter, compared to analysts’ expectations of $14.57 million. Equities analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Institutional Trading of Ocular Therapeutix

Several hedge funds have recently modified their holdings of OCUL. Mirae Asset Global Investments Co. Ltd. increased its position in Ocular Therapeutix by 17.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 893 shares during the last quarter. Trust Co. of Vermont increased its holdings in shares of Ocular Therapeutix by 16.1% in the 2nd quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 1,000 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Ocular Therapeutix by 1.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock valued at $674,000 after buying an additional 1,314 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Ocular Therapeutix by 62.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 1,392 shares during the last quarter. Finally, Profund Advisors LLC grew its position in Ocular Therapeutix by 9.9% in the third quarter. Profund Advisors LLC now owns 25,178 shares of the biopharmaceutical company’s stock worth $294,000 after acquiring an additional 2,272 shares in the last quarter. 59.21% of the stock is owned by hedge funds and other institutional investors.

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.