Sanjay Nayak Sells 1,897 Shares of Ocular Therapeutix (NASDAQ:OCUL) Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Sanjay Nayak sold 1,897 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $10.78, for a total value of $20,449.66. Following the sale, the insider directly owned 326,898 shares in the company, valued at $3,523,960.44. This trade represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Stock Performance

Ocular Therapeutix stock opened at $10.82 on Friday. Ocular Therapeutix, Inc. has a twelve month low of $6.23 and a twelve month high of $16.44. The company’s 50-day moving average price is $9.66 and its 200-day moving average price is $9.16. The company has a market cap of $2.38 billion, a PE ratio of -7.62 and a beta of 0.93. 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 (NASDAQ:OCUL) last issued its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.05. The firm had revenue of $13.47 million for the quarter, compared to the consensus estimate of $13.20 million. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%.The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.39) earnings per share. On average, equities research analysts forecast that Ocular Therapeutix, Inc. will post -1.47 EPS for the current fiscal year.

Institutional Trading of Ocular Therapeutix

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Ocular Therapeutix by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company’s stock valued at $686,000 after acquiring an additional 5,156 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Ocular Therapeutix in the first quarter valued at approximately $248,000. Creative Planning lifted its position in Ocular Therapeutix by 21.5% in the second quarter. Creative Planning now owns 21,410 shares of the biopharmaceutical company’s stock valued at $199,000 after purchasing an additional 3,791 shares during the period. JPMorgan Chase & Co. lifted its holdings in Ocular Therapeutix by 110.8% in the second quarter. JPMorgan Chase & Co. now owns 712,100 shares of the biopharmaceutical company’s stock valued at $6,608,000 after acquiring an additional 374,269 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of Ocular Therapeutix by 57.9% during the 2nd quarter. Prudential Financial Inc. now owns 18,700 shares of the biopharmaceutical company’s stock worth $174,000 after acquiring an additional 6,855 shares in the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on OCUL. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Zacks Research upgraded Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Finally, Robert W. Baird increased their target price 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. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.75.

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.