Ocular Therapeutix Inc. (NASDAQ: OCUL) stock fell -4.17% on Wednesday to $6.66 against a previous-day closing price of $6.95. With 1.11 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.0 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $6.95 whereas the lowest price it dropped to was $6.51. The 52-week range on OCUL shows that it touched its highest point at $7.32 and its lowest point at $2.57 during that stretch. It currently has a 1-year price target of $12.75. Beta for the stock currently stands at 1.29.
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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 up-trending over the past week, with a rise of 4.39%, but this was up by 12.88% over a month. Three-month performance surged to 10.45% while six-month performance rose 123.49%. The stock gained 103.05% in the past year, while it has gained 137.01% so far this year. A look at the trailing 12-month EPS for OCUL yields -1.15 with Next year EPS estimates of -0.94. For the next quarter, that number is -0.28. This implies an EPS growth rate of -977.30% for this year and 18.30% for next year.
Float and Shares Shorts:
At present, 77.39 million OCUL shares are outstanding with a float of 76.10 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.84 million, which was 6.25% higher than short shares on Mar 30, 2023. 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 52.10% of OCUL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 38.29% of OCUL, in contrast to 30.57% held by mutual funds. Shares owned by individuals account for 13.14%. As the largest shareholder in OCUL with 7.90% of the stake, Summer Road LLC holds 6,122,089 shares worth 6,122,089. A second-largest stockholder of OCUL, Opaleye Management, Inc., holds 6,105,900 shares, controlling over 7.88% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in OCUL, holding 4,493,967 shares or 5.80% stake. With a 2.98% stake in OCUL, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,311,862 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.11% of OCUL stock, is the second-largest Mutual Fund holder. It holds 1,635,093 shares valued at 10.14 million. Vanguard Extended Market Index Fu holds 1.48% of the stake in OCUL, owning 1,148,189 shares worth 7.12 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, OCUL reported revenue of $12.27M and operating income of -$19.92M. The EBITDA in the recently reported quarter was -$19.29M and diluted EPS was -$0.25.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OCUL since 0 analysts follow the stock currently. 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 $18.00 and a low target of $8.00, the average target price over the next 12 months is $12.75. Based on these targets, OCUL could surge 170.27% to reach the target high and rise by 20.12% to reach the target low. Reaching the average price target will result in a growth of 91.44% 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.
Summary of Insider Activity:
Insiders traded OCUL stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 625,005 while 44,571 shares were sold.
