NasdaqGM:OCUL

Stock Analysis Report

Executive Summary

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.


Snowflake Analysis

High growth potential and slightly overvalued.


Similar Companies

Share Price & News

How has Ocular Therapeutix's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: OCUL's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-4.3%

OCUL

5.6%

US Pharmaceuticals

-1.1%

US Market


1 Year Return

7.6%

OCUL

-7.4%

US Pharmaceuticals

-13.6%

US Market

Return vs Industry: OCUL exceeded the US Pharmaceuticals industry which returned -6.9% over the past year.

Return vs Market: OCUL exceeded the US Market which returned -10.7% over the past year.


Shareholder returns

OCULIndustryMarket
7 Day-4.3%5.6%-1.1%
30 Day-14.5%-6.8%-17.8%
90 Day7.4%-12.8%-22.5%
1 Year7.6%7.6%-5.1%-7.4%-11.9%-13.6%
3 Year-42.7%-42.7%12.2%4.1%12.1%4.9%
5 Year-83.6%-83.6%13.5%1.0%30.5%16.3%

Price Volatility Vs. Market

How volatile is Ocular Therapeutix's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Ocular Therapeutix undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: OCUL ($4.95) is trading below our estimate of fair value ($13)

Significantly Below Fair Value: OCUL is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: OCUL is unprofitable, so we can't compare its PE Ratio to the Pharmaceuticals industry average.

PE vs Market: OCUL is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate OCUL's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: OCUL has negative assets, so we can't compare its PB Ratio to the US Pharmaceuticals industry average.


Next Steps

Future Growth

How is Ocular Therapeutix forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

65.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: OCUL is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).

Earnings vs Market: OCUL is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: OCUL's is expected to become profitable in the next 3 years.

Revenue vs Market: OCUL's revenue (39.8% per year) is forecast to grow faster than the US market (7.2% per year).

High Growth Revenue: OCUL's revenue (39.8% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if OCUL's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Ocular Therapeutix performed over the past 5 years?

-18.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: OCUL is currently unprofitable.

Growing Profit Margin: OCUL is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: OCUL is unprofitable, and losses have increased over the past 5 years at a rate of -18.3% per year.

Accelerating Growth: Unable to compare OCUL's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: OCUL is unprofitable, making it difficult to compare its past year earnings growth to the Pharmaceuticals industry (-0.2%).


Return on Equity

High ROE: OCUL's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Next Steps

Financial Health

How is Ocular Therapeutix's financial position?


Financial Position Analysis

Short Term Liabilities: OCUL has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: OCUL has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: OCUL has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: OCUL's has negative shareholder equity, so we do not need to check if its debt has reduced over time.


Balance Sheet

Inventory Level: OCUL has a high level of physical assets or inventory.

Debt Coverage by Assets: OCUL has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: OCUL has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if OCUL has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is Ocular Therapeutix's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate OCUL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate OCUL's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if OCUL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if OCUL's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of OCUL's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.5yrs

Average management tenure


CEO

Antony Mattessich (52yo)

2.75s

Tenure

US$2,626,529

Compensation

Mr. Antony Mattessich has been the Chief Executive Officer and President of Ocular Therapeutix, Inc. since July 26, 2017. Mr. Mattessich serves as Managing Director of Mundipharma International Limited. He ...


CEO Compensation Analysis

Compensation vs Market: Antony's total compensation ($USD2.63M) is above average for companies of similar size in the US market ($USD1.48M).

Compensation vs Earnings: Antony's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Antony Mattessich
President2.75yrsUS$2.63m0.19% $457.2k
Donald Notman
Chief Financial Officer2.58yrsUS$982.03k0.046% $112.3k
Patricia Kitchen
Chief Operations Officer0.75yrno datano data
Peter Jarrett
Chief Scientific Officerno datano datano data
Jonathan Sparks
General Counsel & Chief Intellectual Property Counsel2.33yrsno datano data
William Ransone
Vice President of Global Sales & Marketingno datano datano data
Christopher White
Senior Vice President of Business & Corporate Development1.25yrsno datano data
Scott Corning
Senior Vice President of Commercial2.25yrsno datano data
Michael Goldstein
Chief Medical Officer2.58yrsUS$1.05m0.049% $119.9k
Eric Ankerud
Consultant & Senior Advisor2.67yrsUS$337.56kno data

2.5yrs

Average Tenure

57yo

Average Age

Experienced Management: OCUL's management team is considered experienced (2.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Antony Mattessich
President2.75yrsUS$2.63m0.19% $457.2k
Charles Warden
Independent Chairman0.67yrUS$197.98kno data
Richard Lindstrom
Independent Director7.42yrsUS$160.48k0.19% $467.0k
Bruce Peacock
Lead Independent Directorno dataUS$175.48k0.084% $205.7k
Leslie Williams
Director1.08yrsno data0.0086% $21.0k
Jeffrey Heier
Independent Director4.58yrsUS$152.98k0.046% $112.1k
Seung Hong
Director0.83yrno datano data

2.0yrs

Average Tenure

58yo

Average Age

Experienced Board: OCUL's board of directors are not considered experienced ( 2 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 18.8%.


Top Shareholders

Company Information

Ocular Therapeutix, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ocular Therapeutix, Inc.
  • Ticker: OCUL
  • Exchange: NasdaqGM
  • Founded: 2006
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: US$245.534m
  • Shares outstanding: 52.58m
  • Website: https://www.ocutx.com

Number of Employees


Location

  • Ocular Therapeutix, Inc.
  • 15 Crosby Drive
  • Bedford
  • Massachusetts
  • 1730
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
OCULNasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDJul 2014
0OTDB (Deutsche Boerse AG)YesCommon StockDEEURJul 2014

Biography

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. Its lead product candidate is DEXTENZA (dexamethasone ophthalmic insert) for the treatment of post-surgical ocular pain and inflammation, allergic conjunctivitis, and dry eye diseases. The company also develops OTX-TP (intracanalicular travoprost insert) for the reduction of intraocular pressure (IOP) in patients with glaucoma and ocular hypertension; OTX-TIC, an intracameral travoprost implant for the reduction of IOP in patients with moderate to severe glaucoma and ocular hypertension; OTX-TKI, an intravitreal tyrosine kinase inhibitor implant for the treatment of wet age-related macular degeneration(AMD); and OTX-IVT, an intravitreal aflibercept implant for the treatment of wet AMD and other back-of-the-eye diseases. Its various preclinical programs include OTX-BPI for the treatment of acute ocular pain; OTX-BSI to treat post-operative Pain, and inflammation and bacterial infection; OTX-KTO for the treatment of allergy; and OTX-CSI to treat chronic dry-eye. The company has strategic collaboration with Regeneron Pharmaceuticals, Inc. (Regeneron) for the development and commercialization of products using the Company’s sustained-release hydrogel in combination with Regeneron’s large molecule VEGF-targeting compounds to address conditions of the eye. Ocular Therapeutix, Inc. was founded in 2006 and is headquartered in Bedford, Massachusetts. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/02 11:01
End of Day Share Price2020/04/01 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.