Ocular Therapeutix (NASDAQ:OCUL) Trading Down 4%

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares were down 4% during trading on Monday . The company traded as low as $8.00 and last traded at $8.01. Approximately 39,023 shares traded hands during trading, a decline of 98% from the average daily volume of 2,191,826 shares. The stock had previously closed at $8.34.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on OCUL shares. Piper Sandler reissued an “overweight” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research note on Friday, June 21st. HC Wainwright reiterated a “buy” rating and set a $14.00 target price on shares of Ocular Therapeutix in a research report on Thursday, August 1st. Robert W. Baird reduced their price target on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. JMP Securities lowered their price objective on shares of Ocular Therapeutix from $24.00 to $22.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 8th. Finally, TD Cowen downgraded shares of Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.67.

Ocular Therapeutix Trading Up 0.1 %

The company has a 50-day moving average price of $6.96 and a 200 day moving average price of $7.15. The stock has a market capitalization of $1.24 billion, a P/E ratio of -5.93 and a beta of 1.30. The company has a current ratio of 21.39, a quick ratio of 21.29 and a debt-to-equity ratio of 0.16.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.04). Ocular Therapeutix had a negative net margin of 192.61% and a negative return on equity of 76.64%. The firm had revenue of $16.40 million for the quarter, compared to analysts’ expectations of $15.85 million. During the same period in the previous year, the company posted ($0.27) earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, research analysts forecast that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ocular Therapeutix

Large investors have recently made changes to their positions in the business. Trust Co. of Vermont boosted its position in shares of Ocular Therapeutix by 20.0% in the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,000 shares in the last quarter. Amalgamated Bank grew its stake in shares of Ocular Therapeutix by 37.9% during the second quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 1,481 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Ocular Therapeutix by 39.4% during the first quarter. Ameritas Investment Partners Inc. now owns 11,531 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 3,257 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Ocular Therapeutix by 36.9% in the 2nd quarter. Victory Capital Management Inc. now owns 17,403 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 4,695 shares in the last quarter. Finally, Atlas Capital Advisors LLC acquired a new position in Ocular Therapeutix during the 2nd quarter valued at approximately $34,000. 59.21% of the stock is owned by institutional investors and hedge funds.

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.