Insider Buying: Ocular Therapeutix, Inc. (NASDAQ:OCUL) Director Acquires $69,600.00 in Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) Director Richard L. Md Lindstrom purchased 10,000 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were bought at an average price of $6.96 per share, with a total value of $69,600.00. Following the purchase, the director now directly owns 172,704 shares in the company, valued at approximately $1,202,019.84. The trade was a 6.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Ocular Therapeutix Trading Down 1.0%

NASDAQ:OCUL opened at $6.93 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -5.25 and a beta of 1.51. Ocular Therapeutix, Inc. has a 52 week low of $4.79 and a 52 week high of $11.78. The firm has a 50-day moving average price of $7.44 and a two-hundred day moving average price of $8.21.

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 return on equity of 45.18% and a negative net margin of 283.74%. The company had revenue of $17.08 million for the quarter, compared to analysts’ expectations of $16.89 million. On average, equities analysts expect that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ocular Therapeutix

Several large investors have recently modified their holdings of the stock. Hsbc Holdings PLC increased its stake in shares of Ocular Therapeutix by 8.1% during the 1st quarter. Hsbc Holdings PLC now owns 19,573 shares of the biopharmaceutical company’s stock worth $141,000 after purchasing an additional 1,472 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Ocular Therapeutix by 2.7% during the 4th quarter. MetLife Investment Management LLC now owns 92,734 shares of the biopharmaceutical company’s stock worth $792,000 after purchasing an additional 2,454 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Ocular Therapeutix by 10.0% during the 4th quarter. Teacher Retirement System of Texas now owns 27,777 shares of the biopharmaceutical company’s stock worth $237,000 after purchasing an additional 2,526 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Ocular Therapeutix by 3.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,463 shares of the biopharmaceutical company’s stock worth $755,000 after purchasing an additional 2,853 shares during the last quarter. Finally, Brooklyn Investment Group increased its stake in shares of Ocular Therapeutix by 151.5% during the 1st quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 3,155 shares during the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports 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 for the company in a research note on Tuesday, May 6th. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Royal Bank of Canada assumed coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $17.00 price objective for the company. Finally, William Blair assumed coverage on shares of Ocular Therapeutix in a research note on Tuesday, April 8th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a hold rating and seven have assigned 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 $16.25.

About Ocular Therapeutix

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.