Ocular Therapeutix’s (OCUL) “Market Outperform” Rating Reaffirmed at JMP Securities

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “market outperform” rating restated by research analysts at JMP Securities in a research note issued on Tuesday, Benzinga reports. They presently have a $24.00 price target on the biopharmaceutical company’s stock. JMP Securities’ price target suggests a potential upside of 205.34% from the stock’s previous close.

OCUL has been the subject of several other reports. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, February 14th. StockNews.com cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Piper Sandler boosted their target price on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Monday, February 26th. Finally, Bank of America began coverage on shares of Ocular Therapeutix in a research report on Friday, February 9th. They issued a “buy” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.80.

Ocular Therapeutix Trading Up 0.8 %

NASDAQ OCUL traded up $0.06 during trading on Tuesday, hitting $7.86. 310,370 shares of the company’s stock traded hands, compared to its average volume of 1,962,822. The stock has a fifty day moving average of $8.63 and a two-hundred day moving average of $5.25. Ocular Therapeutix has a 12-month low of $2.00 and a 12-month high of $11.31. The firm has a market cap of $1.17 billion, a P/E ratio of -6.26 and a beta of 1.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 6.66 and a quick ratio of 6.59.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.28). Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. The business had revenue of $14.80 million for the quarter, compared to analyst estimates of $15.31 million. As a group, sell-side analysts expect that Ocular Therapeutix will post -0.68 EPS for the current year.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, CFO Donald Notman sold 6,433 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $31,843.35. Following the transaction, the chief financial officer now owns 139,932 shares in the company, valued at approximately $692,663.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Philip C. Strassburger sold 6,831 shares of Ocular Therapeutix stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $33,813.45. Following the completion of the sale, the general counsel now owns 109,218 shares of the company’s stock, valued at $540,629.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Donald Notman sold 6,433 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total value of $31,843.35. Following the sale, the chief financial officer now owns 139,932 shares of the company’s stock, valued at approximately $692,663.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,366 shares of company stock worth $194,862. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several institutional investors have recently made changes to their positions in the business. Summer Road LLC raised its stake in Ocular Therapeutix by 0.4% during the 4th quarter. Summer Road LLC now owns 6,122,089 shares of the biopharmaceutical company’s stock valued at $17,203,000 after purchasing an additional 27,328 shares during the period. BlackRock Inc. boosted its position in shares of Ocular Therapeutix by 7.0% during the 2nd quarter. BlackRock Inc. now owns 5,262,920 shares of the biopharmaceutical company’s stock valued at $27,157,000 after acquiring an additional 344,611 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Ocular Therapeutix by 26.0% in the fourth quarter. Vanguard Group Inc. now owns 5,118,102 shares of the biopharmaceutical company’s stock valued at $22,827,000 after purchasing an additional 1,057,123 shares in the last quarter. Franklin Resources Inc. bought a new stake in Ocular Therapeutix in the fourth quarter worth $20,071,000. Finally, Deltec Asset Management LLC raised its stake in Ocular Therapeutix by 18.5% during the fourth quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company’s stock valued at $10,898,000 after purchasing an additional 381,810 shares in the last quarter. Institutional investors own 59.21% of the company’s stock.

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.