Ocular Therapeutix (NASDAQ:OCUL) Price Target Cut to $22.00 by Analysts at JMP Securities

Ocular Therapeutix (NASDAQ:OCUL) had its target price lowered by JMP Securities from $24.00 to $22.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “market outperform” rating on the biopharmaceutical company’s stock. JMP Securities’ target price suggests a potential upside of 276.71% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. 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. StockNews.com cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Bank of America assumed coverage on Ocular Therapeutix in a research note on Friday, February 9th. They set a “buy” rating and a $15.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Ocular Therapeutix in a research note on Friday, April 19th. Finally, TD Cowen decreased their target price on Ocular Therapeutix from $11.00 to $7.00 and set a “hold” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Ocular Therapeutix has a consensus rating of “Moderate Buy” and an average target price of $15.17.

Ocular Therapeutix Stock Up 1.6 %

OCUL stock opened at $5.84 on Wednesday. The stock has a market cap of $903.60 million, a PE ratio of -4.67 and a beta of 1.47. The firm’s 50-day simple moving average is $7.93 and its 200 day simple moving average is $5.57. Ocular Therapeutix has a fifty-two week low of $2.00 and a fifty-two week high of $11.31. The company has a quick ratio of 6.59, a current ratio of 6.66 and a debt-to-equity ratio of 0.82.

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

Insider Buying and Selling

In related news, major shareholder Summer Road Llc bought 930,851 shares of Ocular Therapeutix stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost 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 in the company, valued at approximately $64,607,335.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several institutional investors and hedge funds have recently added to or reduced their stakes in OCUL. Trust Co. of Vermont boosted its position in shares of Ocular Therapeutix by 20.0% in the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 1,000 shares during the period. Rafferty Asset Management LLC acquired a new stake in Ocular Therapeutix during the 3rd quarter worth about $37,000. SG Americas Securities LLC purchased a new position in Ocular Therapeutix during the 3rd quarter valued at about $38,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Ocular Therapeutix by 350.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 7,152 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of Ocular Therapeutix by 142.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 5,730 shares in the last quarter. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

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.