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

JMP Securities reiterated their market outperform rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research report report published on Tuesday, Benzinga reports. They currently have a $24.00 price objective on the biopharmaceutical company’s stock.

A number of other brokerages have also commented on OCUL. HC Wainwright reiterated a buy rating and issued a $12.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday, February 14th. Bank of America assumed coverage on Ocular Therapeutix in a research report on Friday, February 9th. They issued a buy rating and a $15.00 price objective for the company. StockNews.com downgraded shares of Ocular Therapeutix from a hold rating to a sell rating in a research report on Friday, April 5th. Finally, Piper Sandler raised their target price on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the company an overweight rating in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $16.80.

Ocular Therapeutix Trading Down 0.1 %

OCUL stock opened at $7.79 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 6.66 and a quick ratio of 6.59. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -6.23 and a beta of 1.31. The business has a fifty day moving average price of $8.63 and a 200 day moving average price of $5.25. Ocular Therapeutix has a fifty-two week low of $2.00 and a fifty-two week high of $11.31.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, hitting analysts’ consensus estimates of ($0.28). Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. The firm had revenue of $14.80 million for the quarter, compared to analyst estimates of $15.31 million. Analysts expect that Ocular Therapeutix will post -0.68 EPS for the current fiscal year.

Insider Transactions at Ocular Therapeutix

In other news, major shareholder Summer Road Llc purchased 930,851 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the transaction, the insider now directly owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ocular Therapeutix news, CEO Antony C. Mattessich sold 18,338 shares of Ocular Therapeutix stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $90,773.10. Following the transaction, the chief executive officer now directly owns 427,943 shares in the company, valued at $2,118,317.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Summer Road Llc purchased 930,851 shares of the stock in a transaction on Monday, February 26th. The stock was acquired at an average price of $7.52 per share, with a total value of $6,999,999.52. Following the completion of the acquisition, the insider now directly owns 8,591,401 shares of the company’s stock, valued at $64,607,335.52. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 39,366 shares of company stock worth $194,862. 5.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Institutional investors have recently modified their holdings of the business. FMR LLC raised its holdings in Ocular Therapeutix by 84.4% during the 1st quarter. FMR LLC now owns 4,751 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 2,175 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Ocular Therapeutix by 61.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,225 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 3,500 shares during the period. Trust Co. of Vermont increased its position in shares of Ocular Therapeutix by 20.0% during the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 1,000 shares in the last quarter. Rafferty Asset Management LLC bought a new stake in shares of Ocular Therapeutix during the third quarter worth $37,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Ocular Therapeutix during the third quarter worth $38,000. Institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Company Profile

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.