Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Down Following Weak Earnings

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report)'s stock price gapped down prior to trading on Monday following a weaker than expected earnings announcement. The stock had previously closed at $7.14, but opened at $6.94. Ocular Therapeutix shares last traded at $6.45, with a volume of 361,162 shares trading hands.

The biopharmaceutical company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). The business had revenue of $17.08 million during 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%.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $17.00.

Insider Buying and Selling

In other news, insider Donald Notman sold 11,119 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total transaction of $86,839.39. Following the completion of the transaction, the insider now directly owns 193,444 shares in the company, valued at approximately $1,510,797.64. This represents a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the sale, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,895 shares of company stock worth $283,772. Company insiders own 3.50% of the company's stock.

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Hedge Funds Weigh In On Ocular Therapeutix

Several large investors have recently made changes to their positions in OCUL. GF Fund Management CO. LTD. purchased a new stake in Ocular Therapeutix in the fourth quarter valued at approximately $28,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Ocular Therapeutix in the fourth quarter valued at $43,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Ocular Therapeutix by 22.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 1,015 shares in the last quarter. AlphaQuest LLC purchased a new position in Ocular Therapeutix during the 4th quarter valued at about $53,000. Finally, Capital Performance Advisors LLP acquired a new position in Ocular Therapeutix in the 3rd quarter valued at about $70,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Trading Up 2.7 %

The company's 50 day moving average price is $7.78 and its 200 day moving average price is $8.88. The firm has a market cap of $1.15 billion, a PE ratio of -5.56 and a beta of 1.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94.

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.