Insider Selling: Ocular Therapeutix (NASDAQ:OCUL) Insider Sells $137,368.88 in Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Todd Anderman sold 11,132 shares of the company’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $12.34, for a total transaction of $137,368.88. Following the transaction, the insider owned 87,568 shares of the company’s stock, valued at approximately $1,080,589.12. The trade was a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Ocular Therapeutix Price Performance

NASDAQ:OCUL opened at $11.78 on Monday. The stock has a market cap of $2.05 billion, a P/E ratio of -9.20 and a beta of 1.45. Ocular Therapeutix, Inc. has a one year low of $5.78 and a one year high of $13.85. The company has a fifty day moving average price of $12.28 and a 200 day moving average price of $9.89. The company has a debt-to-equity ratio of 0.23, a current ratio of 10.10 and a quick ratio of 10.02.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The company had revenue of $13.46 million for the quarter, compared to analyst estimates of $13.12 million. Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. Ocular Therapeutix’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.26) earnings per share. Analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Institutional Investors Weigh In On Ocular Therapeutix

Several large investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. grew its holdings in Ocular Therapeutix by 44.4% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 5,200,000 shares of the biopharmaceutical company’s stock worth $38,116,000 after acquiring an additional 1,600,000 shares during the last quarter. Paradigm Biocapital Advisors LP bought a new stake in Ocular Therapeutix during the 1st quarter worth about $9,632,000. Peregrine Capital Management LLC bought a new stake in Ocular Therapeutix during the 1st quarter worth about $6,212,000. Invesco Ltd. grew its holdings in Ocular Therapeutix by 91.2% during the 2nd quarter. Invesco Ltd. now owns 1,538,846 shares of the biopharmaceutical company’s stock worth $14,280,000 after acquiring an additional 734,017 shares during the last quarter. Finally, Raymond James Financial Inc. grew its holdings in Ocular Therapeutix by 142.8% during the 2nd quarter. Raymond James Financial Inc. now owns 884,381 shares of the biopharmaceutical company’s stock worth $8,207,000 after acquiring an additional 520,138 shares during the last quarter. Institutional investors own 59.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on OCUL shares. HC Wainwright boosted their price target on shares of Ocular Therapeutix from $15.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup reissued an “outperform” rating on shares of Ocular Therapeutix in a report on Wednesday, October 1st. Piper Sandler boosted their price target on shares of Ocular Therapeutix from $21.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Zacks Research raised shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a report on Thursday, October 2nd. Finally, Robert W. Baird upped their target price on shares of Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.63.

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.