Ocular Therapeutix, Inc. (NASDAQ:OCUL) Sees Significant Decline in Short Interest

by · The Markets Daily

Ocular Therapeutix, Inc. (NASDAQ:OCUL – Get Free Report) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totalling 13,260,000 shares, a decline of 18.1% from the September 30th total of 16,190,000 shares. Based on an average daily trading volume, of 1,160,000 shares, the short-interest ratio is currently 11.4 days.

Institutional Investors Weigh In On Ocular Therapeutix

Several large investors have recently bought and sold shares of OCUL. Atlas Capital Advisors LLC purchased a new position in shares of Ocular Therapeutix in the 2nd quarter worth $34,000. Amalgamated Bank increased its stake in Ocular Therapeutix by 37.9% during the second quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 1,481 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 during the last quarter. Algert Global LLC purchased a new stake in Ocular Therapeutix during the second quarter valued at approximately $69,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Ocular Therapeutix in the 1st quarter valued at approximately $94,000. Institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Price Performance

OCUL traded down $0.22 during trading on Wednesday, hitting $11.08. 852,306 shares of the company traded hands, compared to its average volume of 1,912,657. The company has a current ratio of 16.64, a quick ratio of 16.55 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.73 billion, a PE ratio of -8.37 and a beta of 1.29. The stock’s 50-day simple moving average is $9.42 and its two-hundred day simple moving average is $7.59. Ocular Therapeutix has a 1 year low of $2.00 and a 1 year high of $11.77.

Ocular Therapeutix (NASDAQ:OCUL – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). The firm had revenue of $16.40 million for the quarter, compared to the consensus estimate of $15.85 million. Ocular Therapeutix had a negative net margin of 226.46% and a negative return on equity of 52.75%. Ocular Therapeutix’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.27) earnings per share. As a group, sell-side analysts anticipate that Ocular Therapeutix will post -1.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OCUL. Scotiabank began coverage on shares of Ocular Therapeutix in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 target price for the company. Robert W. Baird reduced their price objective on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.57.

Check Out Our Latest Stock Report on Ocular Therapeutix

Ocular Therapeutix Company Profile

(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.

See Also