Ocular Therapeutix (NASDAQ:OCUL) Shares Down 6.5% – Here’s Why

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) traded down 6.5% on Monday . The company traded as low as $10.49 and last traded at $10.5250. 3,518,869 shares were traded during mid-day trading, an increase of 21% from the average session volume of 2,899,584 shares. The stock had previously closed at $11.26.

Wall Street Analyst Weigh In

Several equities analysts have commented on OCUL shares. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Ocular Therapeutix in a research report on Monday, December 8th. JMP Securities lifted their target price on Ocular Therapeutix from $20.00 to $29.00 and gave the company a “market outperform” rating in a report on Wednesday, October 1st. Zacks Research upgraded Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a report on Thursday, October 2nd. Piper Sandler boosted their price objective on Ocular Therapeutix from $21.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Finally, Wall Street Zen cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ocular Therapeutix has an average rating of “Moderate Buy” and a consensus price target of $22.56.

Ocular Therapeutix Trading Down 5.1%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 7.78 and a current ratio of 7.85. The company’s 50 day moving average is $12.31 and its 200 day moving average is $11.96.

Ocular Therapeutix (NASDAQ:OCUL) last posted its 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. The business had revenue of $14.54 million for the quarter, compared to analysts’ expectations of $14.57 million. Ocular Therapeutix had a negative return on equity of 86.33% and a negative net margin of 447.57%. Equities analysts expect that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Ocular Therapeutix

Several large investors have recently modified their holdings of the company. Avoro Capital Advisors LLC increased its holdings in shares of Ocular Therapeutix by 38.5% in the 3rd quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock valued at $119,822,000 after acquiring an additional 2,850,000 shares during the period. Vanguard Group Inc. raised its holdings in shares of Ocular Therapeutix by 9.2% in the third quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company’s stock valued at $107,118,000 after buying an additional 771,065 shares during the last quarter. TCG Crossover Management LLC raised its holdings in shares of Ocular Therapeutix by 15.0% in the third quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company’s stock valued at $71,510,000 after buying an additional 798,084 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Ocular Therapeutix by 3,136.1% during the third quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock worth $45,073,000 after buying an additional 3,736,560 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP increased its position in Ocular Therapeutix by 2.3% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 3,497,307 shares of the biopharmaceutical company’s stock valued at $40,884,000 after acquiring an additional 76,967 shares during the period. 59.21% of the stock is owned by institutional investors and hedge funds.

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.