Ocular Therapeutix, Inc. (NASDAQ:OCUL) Stock Position Increased by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY grew its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 114.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 300,000 shares of the biopharmaceutical company’s stock after purchasing an additional 160,000 shares during the period. Paradigm Capital Management Inc. NY owned approximately 0.19% of Ocular Therapeutix worth $2,052,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Tri Locum Partners LP bought a new position in Ocular Therapeutix in the 2nd quarter worth approximately $3,520,000. Avoro Capital Advisors LLC grew its stake in shares of Ocular Therapeutix by 12.7% in the second quarter. Avoro Capital Advisors LLC now owns 8,060,000 shares of the biopharmaceutical company’s stock worth $55,130,000 after purchasing an additional 911,064 shares in the last quarter. HighVista Strategies LLC acquired a new position in shares of Ocular Therapeutix during the second quarter valued at $423,000. Profund Advisors LLC raised its stake in shares of Ocular Therapeutix by 263.9% during the second quarter. Profund Advisors LLC now owns 43,182 shares of the biopharmaceutical company’s stock valued at $295,000 after purchasing an additional 31,314 shares in the last quarter. Finally, Amalgamated Bank raised its stake in shares of Ocular Therapeutix by 37.9% during the second quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 1,481 shares in the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

Ocular Therapeutix Stock Down 5.8 %

Shares of Ocular Therapeutix stock opened at $8.46 on Tuesday. Ocular Therapeutix, Inc. has a 12-month low of $2.00 and a 12-month high of $11.31. The firm has a market capitalization of $1.31 billion, a PE ratio of -6.27 and a beta of 1.28. The company has a quick ratio of 16.55, a current ratio of 16.64 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average is $8.43 and its 200-day moving average is $7.41.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.04). Ocular Therapeutix had a negative return on equity of 52.75% and a negative net margin of 226.46%. The company had revenue of $16.40 million for the quarter, compared to analyst estimates of $15.85 million. During the same quarter in the previous year, the firm posted ($0.27) EPS. Ocular Therapeutix’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts anticipate that Ocular Therapeutix, Inc. will post -1.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Ocular Therapeutix in a research report on Thursday, August 1st. TD Cowen downgraded Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 21st. Robert W. Baird lowered their price target 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. Finally, Piper Sandler restated an “overweight” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.67.

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.