FY2023 EPS Estimates for Ocular Therapeutix, Inc. Reduced by Analyst (NASDAQ:OCUL)

Ocular Therapeutix, Inc. (NASDAQ:OCUL – Get Rating) – Research analysts at Jefferies Financial Group reduced their FY2023 earnings per share (EPS) estimates for Ocular Therapeutix in a report released on Tuesday, March 7th. Jefferies Financial Group analyst C. Howerton now forecasts that the biopharmaceutical company will post earnings per share of ($1.00) for the year, down from their prior estimate of ($0.81). The consensus estimate for Ocular Therapeutix’s current full-year earnings is ($0.91) per share. Jefferies Financial Group also issued estimates for Ocular Therapeutix’s FY2024 earnings at ($0.87) EPS, FY2025 earnings at ($0.54) EPS, FY2026 earnings at ($0.16) EPS and FY2027 earnings at $0.04 EPS.

OCUL has been the topic of a number of other research reports. StockNews.com downgraded Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, November 11th. JMP Securities lowered their price objective on Ocular Therapeutix from $12.00 to $11.00 and set a “market outperform” rating on the stock in a research report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday.

Ocular Therapeutix Trading Down 6.2 %

Shares of OCUL stock opened at $5.28 on Thursday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 4.92 and a current ratio of 4.13. Ocular Therapeutix has a 52-week low of $2.57 and a 52-week high of $6.53. The company has a market capitalization of $409.25 million, a PE ratio of -5.18 and a beta of 1.28. The business’s fifty day moving average is $4.59 and its 200 day moving average is $4.20.

Institutional Trading of Ocular Therapeutix

Several large investors have recently modified their holdings of OCUL. Swiss National Bank boosted its position in Ocular Therapeutix by 7.6% during the 1st quarter. Swiss National Bank now owns 172,100 shares of the biopharmaceutical company’s stock valued at $852,000 after acquiring an additional 12,100 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ocular Therapeutix by 22.9% during the first quarter. JPMorgan Chase & Co. now owns 45,254 shares of the biopharmaceutical company’s stock valued at $224,000 after purchasing an additional 8,439 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Ocular Therapeutix during the first quarter valued at approximately $1,080,000. Panagora Asset Management Inc. lifted its holdings in shares of Ocular Therapeutix by 184.0% during the first quarter. Panagora Asset Management Inc. now owns 85,424 shares of the biopharmaceutical company’s stock valued at $423,000 after purchasing an additional 55,346 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Ocular Therapeutix by 9.5% during the first quarter. Cetera Investment Advisers now owns 566,750 shares of the biopharmaceutical company’s stock valued at $2,805,000 after purchasing an additional 49,000 shares during the last quarter. 55.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, General Counsel Philip C. Strassburger sold 6,181 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $4.24, for a total transaction of $26,207.44. Following the sale, the general counsel now owns 109,071 shares in the company, valued at $462,461.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Philip C. Strassburger sold 6,181 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $4.24, for a total transaction of $26,207.44. Following the transaction, the general counsel now directly owns 109,071 shares of the company’s stock, valued at $462,461.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Donald Notman sold 6,476 shares of the firm’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $4.24, for a total value of $27,458.24. Following the transaction, the chief financial officer now directly owns 139,387 shares in the company, valued at $591,000.88. The disclosure for this sale can be found here. Insiders have sold 38,155 shares of company stock worth $161,777 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Ocular Therapeutix Company Profile

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Ocular Therapeutix, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapies for diseases and conditions of the eye. Its product pipeline includes Dextenza, OTX-TP, and OTX-TIC. The company was founded by Amarpreet S. Sawhney and Farhad Khosravi on September 12, 2006 and is headquartered in Bedford, MA.