Ocular Therapeutix (NASDAQ:OCUL) Announces Earnings Results

Ocular Therapeutix (NASDAQ:OCUL) issued its earnings results on Monday. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05), Zacks reports. The business had revenue of $17.08 million during 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%.

Ocular Therapeutix Trading Down 16.9 %

Shares of NASDAQ:OCUL opened at $5.93 on Tuesday. The firm has a fifty day moving average of $7.84 and a two-hundred day moving average of $8.90. The firm has a market capitalization of $932.30 million, a P/E ratio of -4.49 and a beta of 1.22. Ocular Therapeutix has a 12-month low of $4.06 and a 12-month high of $11.77. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Ocular Therapeutix currently has an average rating of “Moderate Buy” and an average target price of $17.00.

Insider Activity at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix stock in a transaction 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. The trade was a 0.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald Notman sold 11,119 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total transaction of $86,839.39. Following the transaction, the insider now directly owns 193,444 shares of the company’s stock, valued at approximately $1,510,797.64. This represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,895 shares of company stock valued at $283,772. Insiders own 3.50% of the company’s stock.

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.