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

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’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.

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 analyst estimates of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Insider Transactions at Ocular Therapeutix

In other news, insider Donald Notman sold 6,301 shares of Ocular Therapeutix stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $7.84, for a total value of $49,399.84. Following the sale, the insider now owns 204,563 shares of the company’s stock, valued at $1,603,773.92. The trade was a 2.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.87, for a total transaction of $147,533.25. Following the transaction, the insider now owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This trade represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,895 shares of company stock worth $283,772 over the last 90 days. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Institutional investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new position in shares of Ocular Therapeutix during the 4th quarter worth approximately $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Ocular Therapeutix by 48.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 218,588 shares of the biopharmaceutical company’s stock worth $1,867,000 after acquiring an additional 70,904 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Ocular Therapeutix by 252.9% in the fourth quarter. Two Sigma Advisers LP now owns 36,700 shares of the biopharmaceutical company’s stock valued at $313,000 after acquiring an additional 26,300 shares during the period. Two Sigma Investments LP boosted its position in shares of Ocular Therapeutix by 21.9% during the 4th quarter. Two Sigma Investments LP now owns 252,939 shares of the biopharmaceutical company’s stock worth $2,160,000 after purchasing an additional 45,518 shares in the last quarter. Finally, Second Line Capital LLC boosted its position in shares of Ocular Therapeutix by 29.4% during the 4th quarter. Second Line Capital LLC now owns 340,098 shares of the biopharmaceutical company’s stock worth $2,904,000 after purchasing an additional 77,288 shares in the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Stock Performance

The stock’s 50 day moving average price is $7.89 and its two-hundred day moving average price is $8.92. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $932.30 million, a price-to-earnings ratio of -4.49 and a beta of 1.22.

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.