Ocular Therapeutix (NASDAQ:OCUL) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Ocular Therapeutix (NASDAQ:OCUL) posted its earnings results on Monday. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05, FiscalAI reports. The business had revenue of $13.47 million during the quarter, compared to analysts’ expectations of $13.20 million. Ocular Therapeutix had a negative return on equity of 64.28% and a negative net margin of 558.24%.

Ocular Therapeutix Price Performance

Shares of OCUL opened at $8.17 on Monday. The company’s 50-day moving average is $9.15 and its 200-day moving average is $9.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73. The firm has a market capitalization of $1.79 billion, a PE ratio of -5.60 and a beta of 0.93. Ocular Therapeutix has a fifty-two week low of $6.23 and a fifty-two week high of $16.44.

Insider Transactions at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,156 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the completion of the sale, the insider owned 2,597,170 shares in the company, valued at $21,296,794. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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. Insiders have sold 28,999 shares of company stock worth $237,792 in the last three months. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

A number of large investors have recently made changes to their positions in OCUL. Steward Partners Investment Advisory LLC boosted its stake in Ocular Therapeutix by 124.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 1,242 shares during the period. The Manufacturers Life Insurance Company increased its position in Ocular Therapeutix by 1.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock worth $674,000 after buying an additional 1,314 shares during the period. Rafferty Asset Management LLC increased its position in Ocular Therapeutix by 21.2% during the 2nd quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock worth $124,000 after buying an additional 2,343 shares during the period. Creative Planning lifted its holdings in shares of Ocular Therapeutix by 14.6% during the third quarter. Creative Planning now owns 24,535 shares of the biopharmaceutical company’s stock worth $287,000 after buying an additional 3,125 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Ocular Therapeutix by 1.7% during the third quarter. Swiss National Bank now owns 200,700 shares of the biopharmaceutical company’s stock worth $2,346,000 after buying an additional 3,300 shares in the last quarter. Institutional investors own 59.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on OCUL. Chardan Capital lifted their price target on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Royal Bank Of Canada restated an “outperform” rating and set a $30.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. HC Wainwright restated a “buy” rating and issued a $25.00 price objective (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Friday, July 17th. Finally, Robert W. Baird upped their target price on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Ocular Therapeutix currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.11.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.