Ocular Therapeutix (NASDAQ:OCUL) Trading Down 4.9% – Should You Sell?

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s share price traded down 4.9% on Wednesday . The company traded as low as $7.14 and last traded at $7.16. 186,431 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 1,566,199 shares. The stock had previously closed at $7.53.

Analysts Set New Price Targets

OCUL has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, April 8th. JMP Securities set a $19.00 price objective on Ocular Therapeutix in a research note on Tuesday, March 4th. Royal Bank of Canada assumed coverage on Ocular Therapeutix in a report on Tuesday, March 18th. They set an “outperform” rating and a $17.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Finally, William Blair initiated coverage on shares of Ocular Therapeutix in a report on Tuesday, April 8th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.38.

Ocular Therapeutix Stock Performance

The company has a market cap of $1.14 billion, a PE ratio of -5.44 and a beta of 1.49. The company’s fifty day moving average price is $7.23 and its 200 day moving average price is $8.56. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. The business had revenue of $17.08 million for the quarter, compared to analysts’ expectations of $16.89 million. On average, equities research analysts predict that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Donald Notman sold 6,301 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $7.84, for a total value of $49,399.84. Following the sale, the insider now directly owns 204,563 shares in the company, 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 filing with the SEC, which is available through the SEC website. Also, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix 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 completion of the sale, the insider now directly owns 3,520,318 shares of the company’s stock, valued at approximately $24,184,584.66. This trade represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,895 shares of company stock worth $283,772 over the last three months. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of Ocular Therapeutix by 47.1% during the 3rd quarter. Wellington Management Group LLP now owns 462,864 shares of the biopharmaceutical company’s stock valued at $4,027,000 after purchasing an additional 148,310 shares in the last quarter. Barclays PLC raised its holdings in shares of Ocular Therapeutix by 37.1% in the 3rd quarter. Barclays PLC now owns 511,522 shares of the biopharmaceutical company’s stock valued at $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 during the 4th quarter valued at about $482,000. RoundAngle Advisors LLC purchased a new position in shares of Ocular Therapeutix during the fourth quarter worth about $1,695,000. Finally, 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 valued at $612,000 after purchasing an additional 26,511 shares in the last quarter. Hedge funds and other 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.