Ocular Therapeutix (NASDAQ:OCUL) Issues Earnings Results, Misses Estimates By $0.09 EPS

Ocular Therapeutix (NASDAQ:OCUL) issued its quarterly earnings data on Monday. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.09), Zacks reports. The business had revenue of $10.70 million during the quarter, compared to the consensus estimate of $17.02 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. The company’s revenue was down 27.7% on a year-over-year basis.

Ocular Therapeutix Price Performance

Shares of Ocular Therapeutix stock opened at $7.74 on Tuesday. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.23 billion, a PE ratio of -5.83 and a beta of 1.51. The company’s fifty day simple moving average is $7.41 and its two-hundred day simple moving average is $8.36. Ocular Therapeutix has a 12-month low of $4.79 and a 12-month high of $11.78.

Insider Activity

In other news, insider Pravin Dugel sold 21,475 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $6.87, for a total transaction of $147,533.25. Following the completion of the sale, the insider now owns 3,520,318 shares of the company’s stock, valued at $24,184,584.66. The trade was a 0.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on OCUL shares. William Blair began coverage on Ocular Therapeutix in a research report on Tuesday, April 8th. They set an “outperform” rating on the stock. Royal Bank of Canada initiated coverage on Ocular Therapeutix in a report on Tuesday, March 18th. They set an “outperform” rating and a $17.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, March 4th. JMP Securities set a $19.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. Finally, 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. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.25.

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.