Ocular Therapeutix (NASDAQ:OCUL) Insider Sanjay Nayak Sells 1,897 Shares

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Sanjay Nayak sold 1,897 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $10.78, for a total transaction of $20,449.66. Following the completion of the sale, the insider owned 326,898 shares in the company, valued at $3,523,960.44. This represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.

Ocular Therapeutix Trading Down 1.0%

OCUL opened at $10.77 on Thursday. The firm’s fifty day moving average is $9.63 and its two-hundred day moving average is $9.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10. The firm has a market cap of $2.37 billion, a PE ratio of -7.58 and a beta of 0.93. Ocular Therapeutix, Inc. has a twelve month low of $6.23 and a twelve month high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. The business had revenue of $13.47 million during the quarter, compared to analysts’ expectations of $13.20 million. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.39) EPS. Equities research analysts anticipate that Ocular Therapeutix, Inc. will post -1.47 EPS for the current year.

Institutional Investors Weigh In On Ocular Therapeutix

A number of institutional investors have recently modified their holdings of OCUL. Hilton Head Capital Partners LLC boosted its holdings in Ocular Therapeutix by 30.4% in the 1st quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,053 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of Ocular Therapeutix by 124.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,242 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Ocular Therapeutix by 1.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock worth $674,000 after purchasing an additional 1,314 shares in the last quarter. Rafferty Asset Management LLC increased its position in shares of Ocular Therapeutix by 21.2% in the second quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock worth $124,000 after purchasing an additional 2,343 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new stake in Ocular Therapeutix during the fourth quarter worth about $31,000. Institutional investors own 59.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Zacks Research upgraded shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Chardan Capital reissued a “buy” rating and issued a $23.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, August 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Friday, July 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.75.

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.