229,256 Shares in Ocular Therapeutix, Inc. $OCUL Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 229,256 shares of the biopharmaceutical company’s stock, valued at approximately $2,251,000. The Manufacturers Life Insurance Company owned 0.10% of Ocular Therapeutix as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Ocular Therapeutix during the 2nd quarter valued at about $190,278,000. Summer Road LLC increased its position in shares of Ocular Therapeutix by 6.9% in the first quarter. Summer Road LLC now owns 11,879,825 shares of the biopharmaceutical company’s stock worth $100,622,000 after purchasing an additional 771,270 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Ocular Therapeutix by 26.3% in the fourth quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock worth $140,523,000 after purchasing an additional 2,411,953 shares during the last quarter. Avoro Capital Advisors LLC raised its stake in Ocular Therapeutix by 5.1% in the fourth quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company’s stock valued at $130,842,000 after purchasing an additional 527,777 shares in the last quarter. Finally, TCG Crossover Management LLC lifted its position in Ocular Therapeutix by 15.0% during the third quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company’s stock valued at $71,510,000 after purchasing an additional 798,084 shares during the last quarter. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $30.00 price target on shares of Ocular Therapeutix in a report on Wednesday, May 6th. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a research report on Thursday, June 18th. Robert W. Baird upped their target price on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Wall Street Zen raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Friday, July 17th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.75.

Ocular Therapeutix Price Performance

Shares of OCUL stock opened at $10.90 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10. Ocular Therapeutix, Inc. has a fifty-two week low of $6.23 and a fifty-two week high of $16.44. The firm has a market cap of $2.39 billion, a P/E ratio of -7.68 and a beta of 0.97. The business’s 50 day moving average price is $9.72 and its 200-day moving average price is $9.20.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. The company had revenue of $13.47 million during the quarter, compared to analyst estimates of $13.20 million. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%.The firm’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.39) earnings per share. On average, equities research analysts anticipate that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current year.

Insider Transactions at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,649 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $10.77, for a total value of $233,159.73. Following the completion of the transaction, the insider directly owned 2,525,429 shares of the company’s stock, valued at $27,198,870.33. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Peter Kaiser sold 3,035 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $10.77, for a total transaction of $32,686.95. Following the completion of the sale, the insider owned 264,378 shares of the company’s stock, valued at $2,847,351.06. This trade represents a 1.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 29,877 shares of company stock valued at $321,827. Company insiders own 3.10% of the company’s stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.