Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Down Following Weak Earnings

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares gapped down prior to trading on Monday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $7.14, but opened at $6.94. Ocular Therapeutix shares last traded at $6.45, with a volume of 361,162 shares changing hands.

The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). The business had revenue of $17.08 million for the quarter, compared to the consensus estimate of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.00.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,475 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $6.87, for a total value 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 approximately $24,184,584.66. This represents a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald Notman sold 6,301 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $7.84, for a total transaction of $49,399.84. Following the completion of the sale, the insider now directly owns 204,563 shares of the company’s stock, valued at $1,603,773.92. The trade was a 2.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,895 shares of company stock valued at $283,772. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

Several large investors have recently made changes to their positions in OCUL. Creative Planning bought a new stake in shares of Ocular Therapeutix during the third quarter worth $182,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Ocular Therapeutix by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 1,015 shares in the last quarter. Rosalind Advisors Inc. increased its position in shares of Ocular Therapeutix by 18.0% during the third quarter. Rosalind Advisors Inc. now owns 885,000 shares of the biopharmaceutical company’s stock worth $7,700,000 after acquiring an additional 135,000 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Ocular Therapeutix during the third quarter worth $70,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Ocular Therapeutix during the third quarter worth $1,102,000. Institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Price Performance

The company’s 50-day moving average price is $7.84 and its 200-day moving average price is $8.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The company has a market cap of $1.02 billion, a P/E ratio of -4.92 and a beta of 1.22.

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.