Taking on analysts’ expectations and winning: Ocular Therapeutix Inc. (OCUL)

Ocular Therapeutix Inc. (NASDAQ: OCUL) stock jumped 2.03% on Wednesday to $3.01 against a previous-day closing price of $2.95. With 0.32 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.87 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $3.0700 whereas the lowest price it dropped to was $2.9300. The 52-week range on OCUL shows that it touched its highest point at $7.39 and its lowest point at $2.77 during that stretch. It currently has a 1-year price target of $13.29. Beta for the stock currently stands at 1.40.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of OCUL was down-trending over the past week, with a drop of -1.63%, but this was down by -18.21% over a month. Three-month performance dropped to -45.67% while six-month performance fell -1.63%. The stock lost -54.60% in the past year, while it has lost -56.81% so far this year. A look at the trailing 12-month EPS for OCUL yields -0.77 with Next year EPS estimates of -0.82. For the next quarter, that number is -0.26. This implies an EPS growth rate of 96.70% for this year and 14.60% for next year.

Float and Shares Shorts:

At present, 76.98 million OCUL shares are outstanding with a float of 76.10 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.26 million, which was 4.24% higher than short shares on Sep 14, 2022. In addition to Mr. Antony Mattessich as the firm’s Pres, CEO & Director, Mr. Donald Notman Jr. serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 58.39% of OCUL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 39.97% of OCUL, in contrast to 30.22% held by mutual funds. Shares owned by individuals account for 15.82%. As the largest shareholder in OCUL with 8.40% of the stake, Opaleye Management, Inc. holds 6,465,000 shares worth 6,465,000. A second-largest stockholder of OCUL, Summer Road LLC, holds 6,122,089 shares, controlling over 7.95% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in OCUL, holding 4,346,723 shares or 5.65% stake. With a 3.00% stake in OCUL, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,307,462 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.17% of OCUL stock, is the second-largest Mutual Fund holder. It holds 1,671,741 shares valued at 6.03 million. Vanguard Extended Market Index Fu holds 1.49% of the stake in OCUL, owning 1,148,481 shares worth 4.15 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OCUL since 7 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With OCUL analysts setting a high price target of $25.00 and a low target of $5.00, the average target price over the next 12 months is $13.29. Based on these targets, OCUL could surge 730.56% to reach the target high and rise by 66.11% to reach the target low. Reaching the average price target will result in a growth of 341.53% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. OCUL will report FY 2022 earnings on 03/09/2023. Analysts have provided yearly estimates in a range of -$0.92 being high and -$1.08 being low. For OCUL, this leads to a yearly average estimate of -$1.00. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Ocular Therapeutix Inc. surprised analysts by -$0.07 when it reported -$0.31 EPS against a consensus estimate of -$0.24. The surprise factor in the prior quarter was -$0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.20 and the low estimate is -$0.39. The average estimate for the next quarter is thus -$0.28.

Summary of Insider Activity:

Insiders traded OCUL stock several times over the past three months with 5 Buys and 0 Sells. In these transactions, 170,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 986,273 while 0 shares were sold.

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