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OCULOcular Therapeutix, Inc.
$10.00$2.2B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
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P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
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OCUL logo

Ocular Therapeutix, Inc.

OCUL
NASDAQ · Biotechnology
$10.00
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$2.19B
P/E-7.0x
52W High$16.44
Volume2.09M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Pipeline-Fueled Cash Burn Masks DEXTENZA Stagnation

Ocular Therapeutix is pivoting aggressively toward its AXPAXLI retina program, with R&D spending nearly tripling to $54.1M in 2026Q2 and driving operating losses to -$82.1M. However, the commercial foundation is weakening as DEXTENZA revenue declined 18.7% yea...

GrowthDecelerating
ProfitabilityNegative
ValuationReview
TechnicalsHealthy
Explore valuation models
MARKET ACTION

OCUL price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

3/12 Beats

EPS beat 3 of last 12 quarters

02

Valuation risk

-125% Peers

P/E is 125% below peer median

03

Market leadership

RS 66 · Avg

Average momentum (RS Rating: 66)

04

Healthy Uptrend

Uptrend

Price > 50DMA > 200DMA

Next CatalystEstimated earnings · Nov 3

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
OCUL-15.40%
S&P 500 (^GSPC)+12.39%
1-Year Return
OCUL-18.37%
S&P 500 (^GSPC)+15.77%
3-Year Return
OCUL+213.48%
S&P 500 (^GSPC)+67.29%
5-Year Return
OCUL-7.83%
S&P 500 (^GSPC)+62.16%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E
-7.0x
Forward P/E
N/A
EV/EBITDA
N/A
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-7.0x
N/A
N/A
EV/EBITDA
N/A
N/A
N/A
Price/FCF
N/A
N/A
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$2.96-70.4%
Base (Fair)$20.14+101.6%
Bull$2.95-70.5%
$2.96 Bear$20.14 Base$2.95 Bull
Current Market Price: $10.00
Trades at a 50.3% discount to Base DCF ($20.14)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$52M-18.7% YoY
Net income
-$266M-37.4% YoY
Free cash flow
-$217M-59.5% YoY
Operating margin
-521%-251.5 pts YoY
ROIC (TTM)-
Avg ROIC 5Y-
ROE (TTM)-54.9%
Piotroski Score4 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate3/12 (25%)
Revenue Beat Rate2/12 (17%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 3, 2026
-$0.35+11.5%
vs -$0.40
$13M+2.1%
vs $13M
Q2 2026
May 5, 2026
-$0.41-28.1%
vs -$0.32
$11M-15.2%
vs $13M
Q1 2026
Feb 5, 2026
-$0.29+12.1%
vs -$0.33
$13M-17.8%
vs $16M
Q4 2025
Nov 4, 2025
-$0.37+5.1%
vs -$0.39
$15M-9.9%
vs $16M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
MarketBeat·1d ago
Ocular Therapeutix Eyes Q4 FDA Filing for AXPAXLI After SOL-1 Success

Ocular Therapeutix NASDAQ: OCUL said it remains on track to submit a U.S. marketing application for AXPAXLI in the fourth quarter of this year, following what Chief Executive Officer Pravin Dugel described as alignment with the Food and Drug Administration on the company's planned submission package for wet age-related macular degeneration, or wet AMD.

GlobeNewsWire·6d ago
Ocular Therapeutix™ Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

BEDFORD, Mass., Sept. 18, 2026 (GLOBE NEWSWIRE) -- Ocular Therapeutix, Inc. (NASDAQ: OCUL, “Ocular” or the “Company”), an integrated biopharmaceutical company committed to redefining the retina experience, today announced that it has granted inducement equity awards to nine newly hired non-executive employees. The awards were made as an inducement material to each recipient's acceptance of employment with Ocular under Ocular's 2019 Inducement Stock Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

GlobeNewsWire·Sep 15, 2026
Ocular Therapeutix™ Announces Positive Pre-NDA Meeting with U.S. FDA for AXPAXLI™ in Wet AMD

Consistent with prior Type C Meeting, the Pre-NDA Meeting confirms Ocular's plan to submit AXPAXLI NDA based on SOL-1 Week 52 efficacy and safety, interim SOL-R safety, and confirmatory evidence AXPAXLI NDA submission for wet AMD remains on track for 4Q 2026 NDA submission to include subjects that have received multiple AXPAXLI injections in support of the Company's application for repeat dosing Commercial readiness accelerates ahead of potential 2027 launch as AXPAXLI is well positioned to potentially be the first TKI approved for wet AMD BEDFORD, Mass., Sept. 15, 2026 (GLOBE NEWSWIRE) -- Ocular Therapeutix, Inc. (NASDAQ: OCUL, “Ocular”), an integrated biopharmaceutical company committed to redefining the retina experience, today announced the successful completion of its Pre-New Drug Application (NDA) Meeting with the U.S. Food and Drug Administration (FDA) for its investigational product candidate AXPAXLI™ (also known as OTX-TKI) for the treatment of wet age-related macular degeneration (wet AMD).

GlobeNewsWire·Sep 1, 2026
Ocular Therapeutix™ to Participate in September and October Investor and Scientific Conferences

BEDFORD, Mass., Sept. 01, 2026 (GLOBE NEWSWIRE) -- Ocular Therapeutix, Inc. (NASDAQ: OCUL, “Ocular”), an integrated biopharmaceutical company committed to redefining the retina experience, today announced participation in several upcoming investor and scientific conferences in September and October 2026.

Filtered for Ocular Therapeutix, Inc.More Headlines
04

Compare before deciding

Benchmark OCUL against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Ocular Therapeutix, Inc. (OCUL)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
OCUL logoOCULOcular Therapeutix, Inc.Current
$10.00$2.19B-7.04-18.67%-513.17%-54.85%—
RCKT logoRCKTRocket Pharmaceuticals, Inc.
$3.02$329.76M-1.50——-5.76%—
KALA logoKALAKALA BIO, Inc.
$0.56$10.83M-0.17——-187.45%—
ALDX logoALDXAldeyra The
$1.35$81.43M-2.41——-53.14%—
NVCR logoNVCRNovocure Ltd
$16.25$1.88B-13.328.28%-21.25%-44%—
SGHT logoSGHTSight Sciences, Inc.
$8.50$462.48M-11.49-3.13%-35.69%-50.64%—

Compare OCUL vs Peers

Ocular Therapeutix, Inc. (OCUL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs RCKT

Most directly comparable listed peer for OCUL.

Scale Benchmark

vs ISRG

Larger-name benchmark to compare OCUL against a more recognizable public peer.

Peer Set

Compare Top 5

vs RCKT, KALA, ALDX, NVCR

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

OCUL SEC Filings & Documents

Ocular Therapeutix, Inc. (OCUL) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 3, 2026·SEC

Material company update

Jun 12, 2026·SEC

Material company update

May 5, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 5, 2026·SEC

FY 2025

Mar 3, 2025·SEC

FY 2024

Mar 11, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 3, 2026·SEC

FY 2026

May 5, 2026·SEC

FY 2025

Nov 4, 2025·SEC

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OCUL Frequently Asked Questions

Ocular Therapeutix, Inc. (OCUL) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Ocular Therapeutix, Inc.'s revenue?

Ocular Therapeutix, Inc. (OCUL) reported $52.1M in revenue for fiscal year 2025. This represents a 520440% increase from $0.0M in 2012.

How fast is Ocular Therapeutix, Inc. growing?

Ocular Therapeutix, Inc. (OCUL) saw revenue decline by 18.7% over the past year.

Is OCUL profitable?

Ocular Therapeutix, Inc. (OCUL) reported a net loss of $301.4M for fiscal year 2025.

Dividend & Returns
What is OCUL's return on equity?

Ocular Therapeutix, Inc. (OCUL) has a return on equity (ROE) of -54.9%. Negative ROE indicates the company is unprofitable.

What is Ocular Therapeutix, Inc.'s free cash flow?

Ocular Therapeutix, Inc. (OCUL) had negative free cash flow of $255.1M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in OCUL back in 2012?

Total return calculator · dividends reinvested · 14+ years of data

See returns →