Ocular Therapeutix (NASDAQ:OCUL) Issues Quarterly Earnings Results

Ocular Therapeutix (NASDAQ:OCUL) issued its earnings results on Monday. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.05, FiscalAI reports. Ocular Therapeutix had a negative return on equity of 60.55% and a negative net margin of 579.10%.The business had revenue of $13.47 million during the quarter, compared to analyst estimates of $13.20 million. During the same quarter in the prior year, the firm earned ($0.39) earnings per share. Ocular Therapeutix’s revenue for the quarter was down .1% on a year-over-year basis.

Ocular Therapeutix Trading Down 1.3%

Shares of NASDAQ:OCUL traded down $0.11 during trading on Wednesday, hitting $8.48. The company had a trading volume of 492,036 shares, compared to its average volume of 4,240,619. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -5.81 and a beta of 0.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73. The company has a fifty day simple moving average of $9.16 and a two-hundred day simple moving average of $9.15. Ocular Therapeutix has a one year low of $6.23 and a one year high of $16.44.

Insiders Place Their Bets

In related news, insider Pravin Dugel sold 21,156 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total transaction of $173,479.20. Following the transaction, the insider directly owned 2,597,170 shares in the company, valued at approximately $21,296,794. This represents a 0.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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. Insiders have sold a total of 28,999 shares of company stock worth $237,792 in the last quarter. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its holdings in shares of Ocular Therapeutix by 124.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,242 shares during the period. Atlas Capital Advisors Inc. purchased a new position in shares of Ocular Therapeutix during the 4th quarter valued at about $61,000. State of Wyoming purchased a new stake in shares of Ocular Therapeutix in the fourth quarter worth about $78,000. Quarry LP purchased a new position in Ocular Therapeutix during the third quarter valued at approximately $80,000. Finally, Smartleaf Asset Management LLC boosted its position in Ocular Therapeutix by 1,077.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 9,217 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 8,434 shares in the last quarter. Institutional investors own 59.21% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on OCUL shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 price target on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Robert W. Baird upped their price target on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Zacks Research lowered shares of Ocular Therapeutix from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a research report on Thursday, June 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Ocular Therapeutix presently has an average rating of “Moderate Buy” and an average price target of $25.11.

Ocular Therapeutix Company Profile

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.