-$0.41 Earnings Per Share Expected for Ocular Therapeutix Inc (NASDAQ:OCUL) This Quarter

Equities analysts expect Ocular Therapeutix Inc (NASDAQ:OCUL) to post earnings per share of ($0.41) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Ocular Therapeutix’s earnings, with the highest EPS estimate coming in at ($0.29) and the lowest estimate coming in at ($0.50). Ocular Therapeutix posted earnings of ($0.38) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.9%. The firm is expected to report its next quarterly earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that Ocular Therapeutix will report full year earnings of ($1.59) per share for the current fiscal year, with EPS estimates ranging from ($1.91) to ($1.25). For the next year, analysts expect that the company will report earnings of ($0.94) per share, with EPS estimates ranging from ($1.29) to ($0.67). Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Ocular Therapeutix.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.15). The firm had revenue of $0.65 million for the quarter, compared to analysts’ expectations of $1.00 million. Ocular Therapeutix had a negative net margin of 3,450.84% and a negative return on equity of 256.69%.

OCUL has been the subject of a number of recent analyst reports. Cowen lowered shares of Ocular Therapeutix from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $13.00 to $3.00 in a research report on Tuesday, May 21st. ValuEngine upgraded shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. JMP Securities set a $9.00 price target on shares of Ocular Therapeutix and gave the company a “buy” rating in a research report on Friday, June 21st. HC Wainwright set a $9.00 price target on shares of Ocular Therapeutix and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Finally, Piper Jaffray Companies set a $8.00 price target on shares of Ocular Therapeutix and gave the company a “buy” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Ocular Therapeutix has a consensus rating of “Hold” and an average price target of $9.18.

In related news, Chairman Amarpreet Sawhney acquired 124,468 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was bought at an average cost of $2.92 per share, with a total value of $363,446.56. Following the acquisition, the chairman now owns 990,563 shares of the company’s stock, valued at approximately $2,892,443.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael H. Goldstein acquired 12,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were bought at an average cost of $2.51 per share, with a total value of $30,120.00. Following the completion of the acquisition, the insider now directly owns 25,686 shares in the company, valued at approximately $64,471.86. The disclosure for this purchase can be found here. Insiders have bought a total of 229,248 shares of company stock valued at $669,811 over the last ninety days. 16.10% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in Ocular Therapeutix by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 105,467 shares of the biopharmaceutical company’s stock worth $464,000 after purchasing an additional 2,990 shares during the last quarter. BNP Paribas Arbitrage SA purchased a new position in shares of Ocular Therapeutix during the first quarter valued at about $30,000. Creative Planning purchased a new position in shares of Ocular Therapeutix during the second quarter valued at about $52,000. Northern Trust Corp increased its position in shares of Ocular Therapeutix by 3.3% during the second quarter. Northern Trust Corp now owns 419,982 shares of the biopharmaceutical company’s stock valued at $1,848,000 after buying an additional 13,249 shares during the period. Finally, Highland Capital Management LLC purchased a new position in shares of Ocular Therapeutix during the second quarter valued at about $62,000. 46.83% of the stock is owned by institutional investors.

Shares of OCUL traded down $0.26 during mid-day trading on Friday, reaching $4.43. 522,601 shares of the stock traded hands, compared to its average volume of 560,688. The firm has a fifty day moving average price of $4.73 and a 200 day moving average price of $4.07. The company has a market cap of $221.35 million, a price-to-earnings ratio of -2.82 and a beta of 2.25. The company has a current ratio of 6.46, a quick ratio of 6.39 and a debt-to-equity ratio of 7.06. Ocular Therapeutix has a 1 year low of $2.35 and a 1 year high of $7.31.

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 platform technology. The company markets ReSure Sealant, a hydrogel ophthalmic wound sealant to seal corneal incisions following cataract surgery.

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