Ocular Therapeut Down 3.52% To $2.74 After Earnings Beat

Ocular Therapeutix Inc (OCUL) reported better than expected earnings this afternoon for Q3 2023.

Ocular Therapeut's earnings came in at an EPS loss of $0.25 per share, 14.00% higher than estimates for an EPS loss of $0.29 per share. The firm's loss per share narrowed by 19% since reporting a loss of $0.31 per share a year ago.

Analyst projections for Ocular Therapeut revenue came in at a consensus of $15.3 million. Third-Quarter revenues missed estimates for $15.1 million by $169 thousand (1%). The company achieved 26% growth year-over-year compared to the firm's revenue of $12 million from the year-ago quarter. The lower earnings growth relative to revenue signals Ocular Therapeut has not been able to improve its profit margin.

The stock is down 3.52% to $2.74 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Ocular Therapeut a Bearish Sentiment Rank from InvestorsObserver.

Ocular Therapeut has performed a little below average during the past few months. Before the report, Ocular Therapeut received a Long-Term Technical Rank by InvestorsObserver of 35, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $2.23 on October 20, 2023 and set a 52-week high on June 12, 2023 at $7.96.

Ocular Therapeutix Inc is a biotechnology company that specializes in therapies for diseases and conditions of the eye. The company uses its proprietary hydrogel platform technology to deliver therapeutic agents to the eye. Its pipeline consists of eye medication that aims to overcome the limitations of current eye-drop-based therapies for ophthalmic diseases and conditions. Ocular Therapeutix aims to offer medication to replace the existing eye-drop therapy regimen, with the aim of lasting weeks or months with a one-time product application.