Ocular Therapeutix (NASDAQ:OCUL) Insider Todd Anderman Sells 11,984 Shares of Company Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Todd Anderman sold 11,984 shares of the stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $7.29, for a total transaction of $87,363.36. Following the sale, the insider directly owned 140,484 shares in the company, valued at approximately $1,024,128.36. This represents a 7.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Stock Performance

OCUL opened at $7.24 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10. Ocular Therapeutix, Inc. has a 1-year low of $6.23 and a 1-year high of $16.44. The firm has a 50-day moving average price of $9.66 and a two-hundred day moving average price of $9.25.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The company had revenue of $13.47 million during the quarter, compared to the consensus estimate of $13.20 million. During the same period in the previous year, the firm posted ($0.39) earnings per share. The company’s revenue was down .1% on a year-over-year basis. As a group, analysts expect that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current year.

Institutional Investors Weigh In On Ocular Therapeutix

Institutional investors have recently modified their holdings of the business. Hilton Head Capital Partners LLC raised its holdings in shares of Ocular Therapeutix by 30.4% in the first 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 last quarter. Rockefeller Capital Management L.P. acquired a new position in Ocular Therapeutix during the fourth quarter worth $31,000. Principal Financial Group Inc. boosted its holdings in Ocular Therapeutix by 24.1% during the first quarter. Principal Financial Group Inc. now owns 13,623 shares of the biopharmaceutical company’s stock worth $115,000 after purchasing an additional 2,642 shares during the last quarter. NewEdge Advisors LLC grew its position in Ocular Therapeutix by 21.7% in the second quarter. NewEdge Advisors LLC now owns 16,725 shares of the biopharmaceutical company’s stock valued at $164,000 after purchasing an additional 2,979 shares in the last quarter. Finally, Union Bancaire Privee UBP SA grew its position in Ocular Therapeutix by 13.6% in the first quarter. Union Bancaire Privee UBP SA now owns 25,000 shares of the biopharmaceutical company’s stock valued at $212,000 after purchasing an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Chardan Capital restated a “buy” rating and issued a $23.00 price objective on shares of Ocular Therapeutix in a research report on Friday, October 2nd. UBS Group assumed coverage on Ocular Therapeutix in a research report on Sunday. They issued a “buy” rating and a $14.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, September 29th. Zacks Research upgraded Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Ocular Therapeutix in a research report on Tuesday, September 29th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.86.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based formulation and delivery technologies to create sustained-release treatments intended to improve drug delivery, reduce dosing frequency and address unmet needs in ophthalmology.

Its commercial product is DEXTENZA, a corticosteroid ophthalmic insert that is placed in the canaliculus by a healthcare professional.