Ocular Therapeutix (NASDAQ:OCUL) Issues Earnings Results

Ocular Therapeutix (NASDAQ:OCUL) released its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.06), FiscalAI reports. The firm had revenue of $12.87 million for the quarter, compared to analyst estimates of $14.27 million. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%.

Ocular Therapeutix Trading Down 0.2%

Shares of OCUL opened at $6.59 on Monday. Ocular Therapeutix has a twelve month low of $6.00 and a twelve month high of $16.44. The firm has a market capitalization of $1.45 billion, a P/E ratio of -4.64 and a beta of 1.22. The company has a current ratio of 13.10, a quick ratio of 13.03 and a debt-to-equity ratio of 0.14. The stock’s fifty day simple moving average is $8.40 and its 200 day simple moving average is $9.02.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on OCUL shares. Chardan Capital reissued a “buy” rating and set a $23.00 price objective on shares of Ocular Therapeutix in a research note on Friday, October 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a research note on Tuesday, September 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Thursday, October 15th. HC Wainwright reiterated a “buy” rating on shares of Ocular Therapeutix in a research note on Tuesday, October 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of Ocular Therapeutix in a research report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.33.

Insider Transactions at Ocular Therapeutix

In related news, insider Peter Kaiser sold 9,990 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $7.05, for a total transaction of $70,429.50. Following the completion of the sale, the insider owned 254,388 shares of the company’s stock, valued at approximately $1,793,435.40. This represents a 3.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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. Also, insider Pravin Dugel sold 21,649 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $10.77, for a total transaction of $233,159.73. Following the completion of the transaction, the insider owned 2,525,429 shares in the company, valued at $27,198,870.33. The trade was a 0.85% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last quarter, insiders sold 62,720 shares of company stock valued at $556,247. 3.10% of the stock is currently owned by company insiders.

About Ocular Therapeutix

Ocular Therapeutix, Inc (NASDAQ:OCUL) is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based drug-delivery technology to provide sustained or controlled release of medicines in ophthalmic applications.

Its commercial products include Dextenza, a dexamethasone ophthalmic insert used to treat ocular inflammation and itching following ophthalmic surgery, and Yutiq, a fluocinolone acetonide intravitreal implant indicated for the treatment of chronic noninfectious posterior uveitis.