Assenagon Asset Management S.A. Makes New Investment in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Assenagon Asset Management S.A. acquired a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,825,756 shares of the biopharmaceutical company's stock, valued at approximately $24,584,000. Assenagon Asset Management S.A. owned 1.81% of Ocular Therapeutix as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Avoro Capital Advisors LLC purchased a new stake in Ocular Therapeutix during the first quarter worth about $65,055,000. Point72 Asset Management L.P. acquired a new position in shares of Ocular Therapeutix in the second quarter valued at approximately $18,514,000. Vanguard Group Inc. increased its stake in Ocular Therapeutix by 41.4% during the 1st quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company's stock worth $65,840,000 after buying an additional 2,117,029 shares during the period. Nantahala Capital Management LLC acquired a new stake in Ocular Therapeutix during the 2nd quarter worth approximately $6,840,000. Finally, Rosalind Advisors Inc. purchased a new position in Ocular Therapeutix in the 2nd quarter valued at approximately $5,130,000. Hedge funds and other institutional investors own 59.21% of the company's stock.

Ocular Therapeutix Stock Up 2.3 %

NASDAQ OCUL traded up $0.25 during trading on Friday, reaching $11.14. 723,159 shares of the company's stock were exchanged, compared to its average volume of 1,926,819. Ocular Therapeutix, Inc. has a 1 year low of $2.00 and a 1 year high of $11.60. The stock has a market cap of $1.74 billion, a P/E ratio of -8.25 and a beta of 1.29. The company has a debt-to-equity ratio of 0.18, a quick ratio of 16.55 and a current ratio of 16.64. The company has a 50 day moving average price of $9.32 and a two-hundred day moving average price of $7.55.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.04). The business had revenue of $16.40 million during the quarter, compared to analyst estimates of $15.85 million. Ocular Therapeutix had a negative net margin of 226.46% and a negative return on equity of 52.75%. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned ($0.27) earnings per share. On average, equities research analysts anticipate that Ocular Therapeutix, Inc. will post -1.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

OCUL has been the topic of a number of recent research reports. Robert W. Baird cut their price objective on Ocular Therapeutix from $18.00 to $17.00 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. HC Wainwright restated a "buy" rating and set a $14.00 price target on shares of Ocular Therapeutix in a report on Wednesday, October 16th. Finally, Scotiabank assumed coverage on Ocular Therapeutix in a research note on Wednesday, October 16th. They issued a "sector outperform" rating and a $22.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $16.57.

Ocular Therapeutix Company Profile

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.