BNP Paribas Financial Markets Acquires 39,599 Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL)

BNP Paribas Financial Markets increased its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 110.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 75,400 shares of the biopharmaceutical company’s stock after acquiring an additional 39,599 shares during the period. BNP Paribas Financial Markets’ holdings in Ocular Therapeutix were worth $644,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in OCUL. Ameriprise Financial Inc. raised its stake in Ocular Therapeutix by 82.9% during the 4th quarter. Ameriprise Financial Inc. now owns 89,772 shares of the biopharmaceutical company’s stock valued at $767,000 after buying an additional 40,700 shares during the last quarter. Aptus Capital Advisors LLC boosted its holdings in Ocular Therapeutix by 29.3% in the 4th quarter. Aptus Capital Advisors LLC now owns 339,750 shares of the biopharmaceutical company’s stock worth $2,901,000 after buying an additional 76,940 shares during the period. Freestone Grove Partners LP bought a new position in shares of Ocular Therapeutix during the 4th quarter valued at about $119,000. Northern Trust Corp boosted its holdings in shares of Ocular Therapeutix by 5.5% during the 4th quarter. Northern Trust Corp now owns 1,314,871 shares of the biopharmaceutical company’s stock valued at $11,229,000 after purchasing an additional 68,174 shares during the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of Ocular Therapeutix by 35.7% during the 4th quarter. Voya Investment Management LLC now owns 371,235 shares of the biopharmaceutical company’s stock valued at $3,170,000 after purchasing an additional 97,602 shares during the last quarter. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ocular Therapeutix

In other news, Director Richard L. Md Lindstrom acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was acquired at an average cost of $6.96 per share, with a total value of $69,600.00. Following the transaction, the director now owns 172,704 shares in the company, valued at approximately $1,202,019.84. This trade represents a 6.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix stock in a transaction 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 sale, the insider now directly owns 3,520,318 shares of the company’s stock, valued at approximately $24,184,584.66. This trade represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on OCUL shares. Needham & Company LLC dropped their price target on Ocular Therapeutix from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Royal Bank of Canada initiated coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $17.00 price objective for the company. William Blair assumed coverage on shares of Ocular Therapeutix in a research note on Tuesday, April 8th. They issued an “outperform” rating for the company. JMP Securities set a $19.00 price target on Ocular Therapeutix in a research report on Tuesday, March 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.25.

Ocular Therapeutix Trading Up 1.1%

OCUL stock opened at $7.30 on Friday. The company’s 50-day simple moving average is $7.36 and its 200-day simple moving average is $8.04. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. Ocular Therapeutix, Inc. has a 52-week low of $4.79 and a 52-week high of $11.78. The firm has a market cap of $1.16 billion, a P/E ratio of -5.53 and a beta of 1.51.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $17.08 million for the quarter, compared to analysts’ expectations of $16.89 million. As a group, equities analysts forecast that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

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.