Assenagon Asset Management S.A. Invests $24.58 Million in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Assenagon Asset Management S.A. bought a new stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,825,756 shares of the biopharmaceutical company’s stock, valued at approximately $24,584,000. Assenagon Asset Management S.A. owned about 1.81% of Ocular Therapeutix at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Avoro Capital Advisors LLC bought a new position in Ocular Therapeutix in the 1st quarter valued at $65,055,000. Point72 Asset Management L.P. bought a new position in shares of Ocular Therapeutix in the second quarter valued at about $18,514,000. Vanguard Group Inc. lifted its position in Ocular Therapeutix by 41.4% during the 1st quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock worth $65,840,000 after buying an additional 2,117,029 shares in the last quarter. Nantahala Capital Management LLC bought a new stake in Ocular Therapeutix during the 2nd quarter worth about $6,840,000. Finally, Rosalind Advisors Inc. bought a new position in shares of Ocular Therapeutix in the second quarter worth about $5,130,000. 59.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on OCUL shares. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Ocular Therapeutix in a research note on Wednesday, October 16th. Scotiabank began coverage on Ocular Therapeutix in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price objective on the stock. Finally, Robert W. Baird dropped their target price on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.57.

Ocular Therapeutix Stock Performance

OCUL stock opened at $11.14 on Friday. Ocular Therapeutix, Inc. has a twelve month low of $2.00 and a twelve month high of $11.60. The company has a quick ratio of 16.55, a current ratio of 16.64 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.74 billion, a P/E ratio of -8.25 and a beta of 1.29. The business’s fifty day moving average is $9.32 and its 200-day moving average is $7.55.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The company had revenue of $16.40 million during the quarter, compared to analyst estimates of $15.85 million. Ocular Therapeutix had a negative net margin of 226.46% and a negative return on equity of 52.75%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.27) EPS. Equities research analysts forecast that Ocular Therapeutix, Inc. will post -1.02 EPS for the current year.

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-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.