Ocular Therapeutix (NASDAQ:OCUL) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Ocular Therapeutix (NASDAQ:OCUL) issued its earnings results on Tuesday. The biopharmaceutical company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.02, Zacks reports. Ocular Therapeutix had a negative return on equity of 71.92% and a negative net margin of 382.51%.The company had revenue of $14.54 million during the quarter, compared to analyst estimates of $14.57 million.

Ocular Therapeutix Stock Performance

Shares of NASDAQ:OCUL traded down $0.18 during mid-day trading on Wednesday, reaching $10.72. The company had a trading volume of 1,051,797 shares, compared to its average volume of 2,057,889. The company has a current ratio of 10.10, a quick ratio of 10.02 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -8.39 and a beta of 1.45. The company’s 50-day moving average price is $12.05 and its 200-day moving average price is $10.47. Ocular Therapeutix has a one year low of $5.78 and a one year high of $13.85.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Royal Bank Of Canada reissued an “outperform” rating on shares of Ocular Therapeutix in a research note on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Wednesday, October 8th. HC Wainwright increased their price target on Ocular Therapeutix from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Robert W. Baird increased their price target on Ocular Therapeutix from $17.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Finally, Needham & Company LLC increased their target price on Ocular Therapeutix from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ocular Therapeutix has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Insider Buying and Selling at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,494 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $12.04, for a total transaction of $258,787.76. Following the completion of the transaction, the insider directly owned 3,227,244 shares in the company, valued at $38,856,017.76. The trade was a 0.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Todd Anderman sold 11,132 shares of the company’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $12.34, for a total transaction of $137,368.88. Following the completion of the transaction, the insider owned 87,568 shares of the company’s stock, valued at $1,080,589.12. This trade represents a 11.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,806 shares of company stock valued at $727,648 over the last 90 days. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rafferty Asset Management LLC raised its stake in Ocular Therapeutix by 21.2% in the second quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock worth $124,000 after buying an additional 2,343 shares in the last quarter. Prudential Financial Inc. raised its stake in Ocular Therapeutix by 57.9% in the second quarter. Prudential Financial Inc. now owns 18,700 shares of the biopharmaceutical company’s stock worth $174,000 after buying an additional 6,855 shares in the last quarter. Creative Planning raised its stake in Ocular Therapeutix by 21.5% in the second quarter. Creative Planning now owns 21,410 shares of the biopharmaceutical company’s stock worth $199,000 after buying an additional 3,791 shares in the last quarter. Caxton Associates LLP bought a new position in Ocular Therapeutix in the first quarter worth about $248,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in Ocular Therapeutix by 127.0% in the second quarter. CANADA LIFE ASSURANCE Co now owns 27,185 shares of the biopharmaceutical company’s stock worth $253,000 after purchasing an additional 15,209 shares during the period. 59.21% of the stock is owned by institutional investors.

About Ocular Therapeutix

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.