Balyasny Asset Management L.P. Acquires New Shares in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Balyasny Asset Management L.P. acquired a new stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 97,553 shares of the biopharmaceutical company’s stock, valued at approximately $833,000. Balyasny Asset Management L.P. owned approximately 0.06% of Ocular Therapeutix as of its most recent SEC filing.

Several other large investors have also bought and sold shares of OCUL. Atlas Capital Advisors Inc. acquired a new stake in Ocular Therapeutix in the fourth quarter valued at about $43,000. AlphaQuest LLC acquired a new stake in shares of Ocular Therapeutix during the fourth quarter valued at about $53,000. Tower Research Capital LLC TRC boosted its stake in shares of Ocular Therapeutix by 2,045.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 8,446 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Ocular Therapeutix during the fourth quarter valued at about $90,000. Finally, XTX Topco Ltd acquired a new stake in shares of Ocular Therapeutix during the fourth quarter valued at about $99,000. 59.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on OCUL shares. JMP Securities set a $19.00 price target on Ocular Therapeutix in a research note on Tuesday, March 4th. Needham & Company LLC cut their price target on Ocular Therapeutix from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. William Blair started coverage on Ocular Therapeutix in a research note on Tuesday, April 8th. They set an “outperform” rating on the stock. Finally, Royal Bank of Canada initiated coverage on Ocular Therapeutix in a research note on Tuesday, March 18th. They set an “outperform” rating and a $17.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

Insider Buying and Selling at Ocular Therapeutix

In other news, Director Richard L. Md Lindstrom acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was purchased at an average price of $6.96 per share, for a total transaction of $69,600.00. Following the completion of the acquisition, the director now directly owns 172,704 shares in the company, valued at $1,202,019.84. The trade was a 6.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Pravin Dugel sold 21,475 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $6.87, for a total value of $147,533.25. Following the sale, the insider now owns 3,520,318 shares of the company’s stock, valued at approximately $24,184,584.66. This represents a 0.61% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

Ocular Therapeutix Price Performance

Ocular Therapeutix stock opened at $6.93 on Thursday. The stock’s 50 day moving average is $7.44 and its 200 day moving average is $8.21. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The firm has a market cap of $1.10 billion, a P/E ratio of -5.25 and a beta of 1.51. Ocular Therapeutix, Inc. has a one year low of $4.79 and a one year high of $11.78.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $16.89 million. As a group, research analysts expect that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

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.