Ocular Therapeutix (NASDAQ:OCUL) Insider Sells $233,159.73 in Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Pravin Dugel sold 21,649 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $10.77, for a total transaction of $233,159.73. Following the completion of the sale, the insider owned 2,525,429 shares in the company, valued at approximately $27,198,870.33. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 Price Performance

Shares of OCUL stock opened at $10.36 on Friday. The company has a quick ratio of 13.03, a current ratio of 13.10 and a debt-to-equity ratio of 0.14. Ocular Therapeutix, Inc. has a 12-month low of $6.23 and a 12-month high of $16.44. The firm has a fifty day moving average of $9.68 and a 200-day moving average of $9.17. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -7.30 and a beta of 0.93.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping the consensus estimate 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 business had revenue of $13.47 million for the quarter, compared to the consensus estimate of $13.20 million. During the same quarter last year, the business posted ($0.39) EPS. The firm’s revenue was down .1% compared to the same quarter last year. On average, equities research analysts forecast that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. 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 report on Thursday, June 18th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $30.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Finally, Zacks Research upgraded Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.75.

Institutional Trading of Ocular Therapeutix

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hilton Head Capital Partners LLC grew its stake in Ocular Therapeutix by 30.4% in 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 in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings 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 valued at $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 second 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. Rafferty Asset Management LLC grew its stake in shares of Ocular Therapeutix by 21.2% in the second quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock valued at $124,000 after buying an additional 2,343 shares in the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new position in Ocular Therapeutix during the fourth quarter worth $31,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

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.