Zacks: Brokerages Anticipate Ocular Therapeutix Inc (NASDAQ:OCUL) Will Announce Quarterly Sales of $1.00 Million

Wall Street analysts expect that Ocular Therapeutix Inc (NASDAQ:OCUL) will report sales of $1.00 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Ocular Therapeutix’s earnings, with the lowest sales estimate coming in at $500,000.00 and the highest estimate coming in at $2.00 million. Ocular Therapeutix reported sales of $650,000.00 during the same quarter last year, which indicates a positive year over year growth rate of 53.8%. The firm is scheduled to issue its next earnings results on Tuesday, August 6th.

According to Zacks, analysts expect that Ocular Therapeutix will report full-year sales of $12.72 million for the current fiscal year, with estimates ranging from $9.18 million to $15.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $56.10 million, with estimates ranging from $26.27 million to $72.03 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Ocular Therapeutix.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($0.45) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.03). The company had revenue of $0.49 million for the quarter, compared to the consensus estimate of $0.45 million. Ocular Therapeutix had a negative return on equity of 165.85% and a negative net margin of 2,956.91%.

A number of research analysts recently commented on the company. Raymond James set a C$0.50 price objective on Obsidian Energy and gave the stock a “market perform” rating in a research note on Tuesday, May 21st. Zacks Investment Research downgraded G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Cowen assumed coverage on Littelfuse in a research note on Tuesday, May 21st. They set an “outperform” rating and a $210.00 price objective for the company. HC Wainwright set a $10.00 price objective on Jaguar Health and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Finally, ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. One investment 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. The company has an average rating of “Hold” and a consensus target price of $9.18.

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

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers lifted its position in Ocular Therapeutix by 50.3% during the fourth quarter. Rhumbline Advisers now owns 43,465 shares of the biopharmaceutical company’s stock valued at $173,000 after purchasing an additional 14,551 shares during the last quarter. BlackRock Inc. lifted its position in Ocular Therapeutix by 21.8% during the fourth quarter. BlackRock Inc. now owns 2,792,752 shares of the biopharmaceutical company’s stock valued at $11,115,000 after purchasing an additional 500,489 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Ocular Therapeutix by 5.2% during the fourth quarter. Bank of New York Mellon Corp now owns 99,190 shares of the biopharmaceutical company’s stock valued at $395,000 after purchasing an additional 4,896 shares during the last quarter. Northern Trust Corp lifted its position in Ocular Therapeutix by 3.7% during the fourth 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 during the last quarter. Finally, Geode Capital Management LLC lifted its position in Ocular Therapeutix by 15.2% during the fourth quarter. Geode Capital Management LLC now owns 350,673 shares of the biopharmaceutical company’s stock valued at $1,395,000 after purchasing an additional 46,281 shares during the last quarter. Institutional investors own 52.33% of the company’s stock.

OCUL traded up $0.03 during trading on Friday, reaching $5.17. 416,677 shares of the company were exchanged, compared to its average volume of 685,391. The firm has a market capitalization of $220.20 million, a PE ratio of -3.29 and a beta of 2.25. The business’s 50 day moving average price is $3.89. The company has a debt-to-equity ratio of 2.17, a quick ratio of 9.16 and a current ratio of 9.19. Ocular Therapeutix has a 52 week low of $2.35 and a 52 week high of $7.31.

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

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