Ocular Therapeutix (NASDAQ:OCUL) Stock Price Down 6.5% Following Analyst Downgrade

Ocular Therapeutix, Inc. (NASDAQ:OCULGet Free Report) dropped 6.5% during mid-day trading on Tuesday after Needham & Company LLC lowered their price target on the stock from $15.00 to $14.00. Needham & Company LLC currently has a buy rating on the stock. Ocular Therapeutix traded as low as $7.31 and last traded at $7.23. Approximately 463,332 shares were traded during trading, a decline of 67% from the average daily volume of 1,387,175 shares. The stock had previously closed at $7.73.

Several other equities research analysts have also recently commented on OCUL. JMP Securities set a $19.00 price target on Ocular Therapeutix in a report on Tuesday, March 4th. Royal Bank of Canada initiated coverage on shares of Ocular Therapeutix in a research report on Tuesday, March 18th. They set an “outperform” rating and a $17.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Finally, William Blair started coverage on Ocular Therapeutix in a research note on Tuesday, April 8th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.25.

Check Out Our Latest Report on Ocular Therapeutix

Insider Activity at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,475 shares of the business’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 transaction of $147,533.25. Following the completion of the sale, the insider now owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. The trade was a 0.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Ocular Therapeutix during the fourth quarter worth about $28,000. Atlas Capital Advisors Inc. acquired a new position in Ocular Therapeutix during the fourth quarter worth approximately $43,000. AlphaQuest LLC purchased a new stake in Ocular Therapeutix in the fourth quarter valued at approximately $53,000. GAMMA Investing LLC boosted its holdings in shares of Ocular Therapeutix by 6,760.0% in the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 8,112 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Ocular Therapeutix by 2,045.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 8,446 shares during the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Stock Down 1.8 %

The business’s fifty day moving average price is $7.42 and its 200 day moving average price is $8.35. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -5.34 and a beta of 1.51. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19.

Ocular Therapeutix (NASDAQ:OCULGet Free Report) last posted its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share 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 company had revenue of $17.08 million for the quarter, compared to analyst estimates of $16.89 million. On average, equities analysts expect that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

About Ocular Therapeutix

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Ocular Therapeutix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocular Therapeutix and related companies with MarketBeat.com's FREE daily email newsletter.