Ocular Therapeutix (NASDAQ:OCUL) Stock Price Down 5.8% – Time to Sell?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares were down 5.8% during mid-day trading on Tuesday . The company traded as low as $6.92 and last traded at $6.91. Approximately 175,407 shares changed hands during trading, a decline of 89% from the average daily volume of 1,539,508 shares. The stock had previously closed at $7.33.

Analyst Upgrades and Downgrades

OCUL has been the topic of several research reports. JMP Securities set a $19.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. Royal Bank of Canada initiated coverage on Ocular Therapeutix in a research report on Tuesday, March 18th. They set an “outperform” rating and a $17.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. Finally, Needham & Company LLC initiated coverage on Ocular Therapeutix in a research report on Tuesday, March 11th. They set a “buy” rating and a $15.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.38.

Ocular Therapeutix Trading Up 12.2 %

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 stock has a market capitalization of $1.17 billion, a PE ratio of -5.56 and a beta of 1.49. The business’s fifty day moving average is $7.47 and its 200-day moving average is $8.72.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. The firm had revenue of $17.08 million for the quarter, compared to analyst estimates of $16.89 million. As a group, analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insider Transactions at Ocular Therapeutix

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,475 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.87, for a total transaction of $147,533.25. Following the transaction, the insider now owns 3,520,318 shares in the company, valued at $24,184,584.66. The trade was a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald Notman sold 6,301 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $7.84, for a total value of $49,399.84. Following the completion of the transaction, the insider now owns 204,563 shares of the company’s stock, valued at approximately $1,603,773.92. This represents a 2.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,895 shares of company stock worth $283,772. 3.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. lifted its holdings in Ocular Therapeutix by 43.9% in the 4th quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company’s stock worth $25,073,000 after buying an additional 895,304 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Ocular Therapeutix by 146.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock worth $9,661,000 after acquiring an additional 660,080 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new stake in Ocular Therapeutix during the 3rd quarter valued at approximately $4,288,000. Millennium Management LLC purchased a new stake in Ocular Therapeutix during the 4th quarter worth approximately $3,819,000. Finally, FMR LLC raised its position in shares of Ocular Therapeutix by 7,098.7% in the 3rd quarter. FMR LLC now owns 434,369 shares of the biopharmaceutical company’s stock valued at $3,779,000 after purchasing an additional 428,335 shares in the last quarter. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

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.