Ocular Therapeutix Inc (OCUL) Expected to Announce Quarterly Sales of $450,000.00

Analysts expect Ocular Therapeutix Inc (NASDAQ:OCUL) to announce $450,000.00 in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Ocular Therapeutix’s earnings, with the highest sales estimate coming in at $500,000.00 and the lowest estimate coming in at $340,000.00. Ocular Therapeutix reported sales of $340,000.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 32.4%. The firm is expected to report its next quarterly earnings report on Tuesday, May 14th.

According to Zacks, analysts expect that Ocular Therapeutix will report full-year sales of $12.68 million for the current financial year, with estimates ranging from $9.03 million to $15.00 million. For the next financial year, analysts expect that the firm will report sales of $49.15 million, with estimates ranging from $26.27 million to $72.03 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Ocular Therapeutix.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.05). Ocular Therapeutix had a negative return on equity of 136.09% and a negative net margin of 3,013.97%. The business had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $0.45 million.

A number of research analysts have issued reports on the stock. ValuEngine upgraded shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. HC Wainwright set a $12.00 price objective on Ocular Therapeutix and gave the stock a “buy” rating in a research note on Friday, January 11th. Zacks Investment Research downgraded Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Thursday, January 17th. Cantor Fitzgerald reiterated a “buy” rating and issued a $24.00 target price on shares of Ocular Therapeutix in a research note on Thursday, March 7th. Finally, Piper Jaffray Companies set a $14.00 target price on Ocular Therapeutix and gave the company a “buy” rating in a report on Friday, March 8th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $12.61.

In related news, insider Michael H. Goldstein bought 10,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were bought at an average cost of $4.15 per share, for a total transaction of $41,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard L. Md Lindstrom purchased 56,441 shares of Ocular Therapeutix stock in a transaction on Wednesday, March 13th. The stock was bought at an average cost of $4.33 per share, with a total value of $244,389.53. Following the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $433,000. The disclosure for this purchase can be found here. Insiders purchased a total of 90,441 shares of company stock valued at $385,490 in the last ninety days. Company insiders own 15.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of OCUL. Bank of New York Mellon Corp increased its holdings in shares of Ocular Therapeutix by 5.2% in the fourth quarter. Bank of New York Mellon Corp now owns 99,190 shares of the biopharmaceutical company’s stock worth $395,000 after acquiring an additional 4,896 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Ocular Therapeutix by 37.0% in the 3rd quarter. Wells Fargo & Company MN now owns 45,046 shares of the biopharmaceutical company’s stock valued at $310,000 after purchasing an additional 12,170 shares during the period. JGP Global Gestao de Recursos Ltda. acquired a new position in shares of Ocular Therapeutix in the 4th quarter valued at about $50,000. Teachers Advisors LLC boosted its position in shares of Ocular Therapeutix by 24.1% during the 3rd quarter. Teachers Advisors LLC now owns 67,202 shares of the biopharmaceutical company’s stock valued at $462,000 after purchasing an additional 13,061 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Ocular Therapeutix by 3.7% during the 4th quarter. Northern Trust Corp now owns 403,442 shares of the biopharmaceutical company’s stock valued at $1,606,000 after purchasing an additional 14,493 shares in the last quarter. 50.50% of the stock is currently owned by institutional investors and hedge funds.

OCUL traded down $0.19 during trading on Friday, hitting $4.25. The stock had a trading volume of 3,703 shares, compared to its average volume of 543,184. The company has a debt-to-equity ratio of 0.69, a quick ratio of 6.11 and a current ratio of 6.14. The stock has a market capitalization of $190.21 million, a P/E ratio of -2.69 and a beta of 1.87. Ocular Therapeutix has a twelve month low of $3.46 and a twelve month high of $8.28.

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 platform technology. Its lead product candidates include DEXTENZA (dexamethasone insert) for the treatment of post-surgical ocular pain and inflammation, allergic conjunctivitis, and dry eye diseases; and OTX-TP (travoprost insert) for the reduction of intraocular pressure (IOP) in patients with glaucoma and ocular hypertension.

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