Ocular Therapeutix (NASDAQ:OCUL) Shares Down 4.9% - Here's Why

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) dropped 4.9% during mid-day trading on Wednesday . The stock traded as low as $7.14 and last traded at $7.16. Approximately 186,431 shares traded 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.

Analysts Set New Price Targets

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

Ocular Therapeutix Stock Performance

The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -5.54 and a beta of 1.49. The company has a 50 day simple moving average of $7.21 and a 200-day simple moving average of $8.53. 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 - Get Free Report) last released its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). The company had revenue of $17.08 million for the quarter, compared to analyst estimates of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. As a group, equities research analysts expect that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insider Transactions at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,475 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the sale, the insider now owns 3,520,318 shares in the company, valued at $24,184,584.66. This represents a 0.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Donald Notman sold 11,119 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total transaction of $86,839.39. Following the transaction, the insider now owns 193,444 shares of the company's stock, valued at approximately $1,510,797.64. The trade was a 5.44 % 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 90 days. 3.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC grew its position in Ocular Therapeutix by 37.1% in the third quarter. Barclays PLC now owns 511,522 shares of the biopharmaceutical company's stock worth $4,451,000 after acquiring an additional 138,441 shares in the last quarter. Courier Capital LLC bought a new stake in shares of Ocular Therapeutix in the 4th quarter worth approximately $482,000. RoundAngle Advisors LLC purchased a new position in Ocular Therapeutix during the 4th quarter valued at $1,695,000. SG Americas Securities LLC raised its stake in Ocular Therapeutix by 58.7% in the fourth quarter. SG Americas Securities LLC now owns 71,698 shares of the biopharmaceutical company's stock worth $612,000 after buying an additional 26,511 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Ocular Therapeutix by 11.2% in the 4th 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 during the period. Institutional investors own 59.21% of the company's stock.

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.