BNP Paribas Arbitrage SA lowered its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 70.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,846 shares of the biopharmaceutical company’s stock after selling 6,717 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Ocular Therapeutix were worth $40,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. State Board of Administration of Florida Retirement System lifted its position in shares of Ocular Therapeutix by 25.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 31,117 shares of the biopharmaceutical company’s stock worth $441,000 after purchasing an additional 6,381 shares in the last quarter. Citigroup Inc. increased its stake in Ocular Therapeutix by 48.5% in the second quarter. Citigroup Inc. now owns 21,044 shares of the biopharmaceutical company’s stock valued at $298,000 after purchasing an additional 6,871 shares during the last quarter. Rafferty Asset Management LLC purchased a new position in Ocular Therapeutix in the second quarter valued at approximately $182,000. Swiss National Bank grew its position in shares of Ocular Therapeutix by 1.8% during the second quarter. Swiss National Bank now owns 141,100 shares of the biopharmaceutical company’s stock worth $2,001,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Tiff Advisory Services Inc. purchased a new position in shares of Ocular Therapeutix during the second quarter worth approximately $276,000. 63.02% of the stock is currently owned by institutional investors.
A number of equities analysts have recently issued reports on OCUL shares. JMP Securities restated a “buy” rating and set a $33.00 target price on shares of Ocular Therapeutix in a research report on Friday, October 8th. HC Wainwright increased their price target on Ocular Therapeutix from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday. Piper Sandler reaffirmed a “buy” rating and set a $28.00 price target on shares of Ocular Therapeutix in a report on Friday, July 23rd. Finally, Zacks Investment Research downgraded Ocular Therapeutix from a “hold” rating to a “strong sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $23.83.
Ocular Therapeutix stock opened at $11.54 on Thursday. Ocular Therapeutix, Inc. has a one year low of $9.11 and a one year high of $24.30. The company has a debt-to-equity ratio of 0.63, a quick ratio of 10.00 and a current ratio of 10.05. The business has a fifty day moving average of $10.57 and a two-hundred day moving average of $13.11. The company has a market cap of $883.77 million, a P/E ratio of -6.04 and a beta of 2.14.
Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Monday, August 9th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09. Ocular Therapeutix had a negative return on equity of 51.58% and a negative net margin of 318.77%. The business had revenue of $11.72 million during the quarter, compared to analysts’ expectations of $11.70 million. Sell-side analysts predict that Ocular Therapeutix, Inc. will post -0.59 EPS for the current year.
Ocular Therapeutix Profile
Ocular Therapeutix, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapies for diseases and conditions of the eye. Its product pipeline includes Dextenza, OTX-TP, and OTX-TIC. The company was founded by Amarpreet S. Sawhney and Farhad Khosravi on September 12, 2006 and is headquartered in Bedford, MA.
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