Ocular Therapeutix (NASDAQ:OCUL) Stock: Insider Todd Anderman Sells 11,984 Shares

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Todd Anderman sold 11,984 shares of the stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $7.29, for a total value of $87,363.36. Following the completion of the transaction, the insider directly owned 140,484 shares of the company’s stock, valued at approximately $1,024,128.36. The trade was a 7.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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

Ocular Therapeutix stock opened at $7.20 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.10 and a quick ratio of 13.03. The company has a market capitalization of $1.58 billion, a PE ratio of -5.07 and a beta of 1.00. Ocular Therapeutix, Inc. has a one year low of $6.23 and a one year high of $16.44. The business has a 50 day simple moving average of $9.63 and a 200 day simple moving average of $9.24.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $13.47 million for the quarter, compared to analysts’ expectations of $13.20 million. During the same period in the prior year, the business posted ($0.39) earnings per share. The business’s revenue was down .1% compared to the same quarter last year. On average, sell-side analysts forecast that Ocular Therapeutix, Inc. will post -1.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

OCUL has been the topic of several recent analyst reports. Robert W. Baird boosted their target price on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Chardan Capital reiterated a “buy” rating and set a $23.00 target price on shares of Ocular Therapeutix in a research report on Friday, October 2nd. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, September 29th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ocular Therapeutix in a report on Tuesday, September 29th. Finally, UBS Group began coverage on shares of Ocular Therapeutix in a report on Sunday. They set a “buy” rating and a $14.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Ocular Therapeutix currently has an average rating of “Moderate Buy” and a consensus target price of $22.86.

Institutional Investors Weigh In On Ocular Therapeutix

Large investors have recently bought and sold shares of the business. Hilton Head Capital Partners LLC lifted its position in Ocular Therapeutix by 30.4% during the 1st quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 1,053 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in Ocular Therapeutix during the 4th quarter worth about $31,000. Principal Financial Group Inc. grew its holdings in Ocular Therapeutix by 24.1% during the 1st quarter. Principal Financial Group Inc. now owns 13,623 shares of the biopharmaceutical company’s stock worth $115,000 after acquiring an additional 2,642 shares during the last quarter. NewEdge Advisors LLC increased its position in Ocular Therapeutix by 21.7% in the 2nd quarter. NewEdge Advisors LLC now owns 16,725 shares of the biopharmaceutical company’s stock valued at $164,000 after acquiring an additional 2,979 shares in the last quarter. Finally, Union Bancaire Privee UBP SA increased its position in Ocular Therapeutix by 13.6% in the 1st quarter. Union Bancaire Privee UBP SA now owns 25,000 shares of the biopharmaceutical company’s stock valued at $212,000 after acquiring an additional 3,000 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based formulation and delivery technologies to create sustained-release treatments intended to improve drug delivery, reduce dosing frequency and address unmet needs in ophthalmology.

Its commercial product is DEXTENZA, a corticosteroid ophthalmic insert that is placed in the canaliculus by a healthcare professional.