Ocular Therapeutix (NASDAQ:OCUL) Stock Price Down 4.9% – What’s Next?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares were down 4.9% during trading on Wednesday . The company traded as low as $7.14 and last traded at $7.16. Approximately 186,431 shares changed hands during trading, a decline of 88% from the average daily volume of 1,566,199 shares. The stock had previously closed at $7.53.

Analyst Upgrades and Downgrades

Several brokerages have commented on OCUL. William Blair assumed coverage on Ocular Therapeutix in a research report on Tuesday, April 8th. They issued an “outperform” rating on the stock. JMP Securities set a $19.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, April 8th. Royal Bank of Canada initiated coverage on Ocular Therapeutix in a research report on Tuesday, March 18th. They set an “outperform” rating and a $17.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.38.

Ocular Therapeutix Price Performance

The company has a market cap of $1.16 billion, a PE ratio of -5.54 and a beta of 1.49. The firm has a 50 day simple moving average of $7.22 and a 200-day simple moving average of $8.54. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The firm had revenue of $17.08 million for the quarter, compared to the consensus estimate of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. As a group, research analysts predict that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity at Ocular Therapeutix

In related news, insider Donald Notman sold 6,301 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $7.84, for a total transaction of $49,399.84. Following the completion of the transaction, the insider now directly owns 204,563 shares in the company, valued at $1,603,773.92. The trade was a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $6.87, for a total value of $147,533.25. Following the transaction, the insider now owns 3,520,318 shares of the company’s stock, valued at $24,184,584.66. The trade was a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,895 shares of company stock valued at $283,772 in the last ninety days. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds and other institutional investors have recently made changes to their positions in OCUL. MetLife Investment Management LLC boosted its stake in shares of Ocular Therapeutix by 2.7% during the 4th quarter. MetLife Investment Management LLC now owns 92,734 shares of the biopharmaceutical company’s stock worth $792,000 after acquiring an additional 2,454 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Ocular Therapeutix by 10.0% during the fourth quarter. Teacher Retirement System of Texas now owns 27,777 shares of the biopharmaceutical company’s stock worth $237,000 after purchasing an additional 2,526 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Ocular Therapeutix by 3.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,463 shares of the biopharmaceutical company’s stock valued at $755,000 after buying an additional 2,853 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Ocular Therapeutix during the 4th quarter worth approximately $28,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Ocular Therapeutix by 11.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company’s stock valued at $285,000 after purchasing an additional 3,347 shares in the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

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.