Ratan Capital Management LP Invests $695,000 in Ocular Therapeutix, Inc. $OCUL

Ratan Capital Management LP bought a new stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) in the second quarter, HoldingsChannel.com reports. The firm bought 70,792 shares of the biopharmaceutical company’s stock, valued at approximately $695,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Steward Partners Investment Advisory LLC raised 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 worth $27,000 after purchasing an additional 1,242 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of Ocular Therapeutix during the 4th quarter worth approximately $31,000. Hilton Head Capital Partners LLC increased its holdings in shares of Ocular Therapeutix by 30.4% during the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,053 shares during the period. Atlas Capital Advisors Inc. bought a new position in shares of Ocular Therapeutix during the fourth quarter worth approximately $61,000. Finally, State of Wyoming acquired a new stake in shares of Ocular Therapeutix in the fourth quarter valued at approximately $78,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OCUL has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Wall Street Zen raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Chardan Capital reiterated a “buy” rating and set a $23.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, August 4th. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday, May 5th. Finally, Robert W. Baird raised their price target on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.75.

Insider Transactions at Ocular Therapeutix

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,649 shares of Ocular Therapeutix stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $10.77, for a total value of $233,159.73. Following the transaction, the insider owned 2,525,429 shares in the company, valued at $27,198,870.33. The trade was a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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. Also, insider Jeffrey S. Heier sold 3,296 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $10.78, for a total value of $35,530.88. Following the transaction, the insider directly owned 318,326 shares of the company’s stock, valued at approximately $3,431,554.28. The trade was a 1.02% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last quarter, insiders sold 29,877 shares of company stock valued at $321,827. Corporate insiders own 3.10% of the company’s stock.

Ocular Therapeutix Stock Performance

NASDAQ OCUL opened at $10.36 on Friday. The company has a current ratio of 13.10, a quick ratio of 13.03 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -7.30 and a beta of 0.93. The firm’s 50 day simple moving average is $9.68 and its 200 day simple moving average is $9.17. Ocular Therapeutix, Inc. has a 1 year low of $6.23 and a 1 year high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.05. The firm 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 59.89% and a negative net margin of 579.10%.The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.39) earnings per share. As a group, research analysts expect that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current fiscal year.

Ocular Therapeutix Profile

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.