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

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

Wall Street Analysts Forecast Growth

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

Ocular Therapeutix Stock Performance

The stock has a market capitalization of $1.10 billion, a P/E ratio of -5.23 and a beta of 1.34. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $7.51 and a two-hundred day moving average price of $8.75.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results 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). 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%. On average, equities analysts forecast that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Insider Activity at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,475 shares of the company’s stock in a transaction that occurred on 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 directly owns 3,520,318 shares of the company’s stock, valued at $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 available through this link. Also, insider Donald Notman sold 6,301 shares of the stock in a transaction 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 in the company, valued at approximately $1,603,773.92. This represents a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,895 shares of company stock worth $283,772 in the last quarter. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OCUL. GF Fund Management CO. LTD. bought a new stake in shares of Ocular Therapeutix during the fourth quarter worth about $28,000. Atlas Capital Advisors Inc. purchased a new position in shares of Ocular Therapeutix in the 4th quarter worth approximately $43,000. AlphaQuest LLC bought a new position in shares of Ocular Therapeutix in the fourth quarter valued at approximately $53,000. Tower Research Capital LLC TRC boosted its position in Ocular Therapeutix by 2,045.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 8,446 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in Ocular Therapeutix in the 4th quarter valued at $90,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

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.