Ocular Therapeutix (NASDAQ:OCUL) Stock Rating Reaffirmed by JMP Securities

JMP Securities restated their market outperform rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a $24.00 price objective on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the stock. HC Wainwright reaffirmed a buy rating and issued a $12.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, February 14th. StockNews.com downgraded shares of Ocular Therapeutix from a hold rating to a sell rating in a report on Friday, April 5th. Bank of America initiated coverage on shares of Ocular Therapeutix in a report on Friday, February 9th. They issued a buy rating and a $15.00 price target for the company. Finally, Piper Sandler upped their price target 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. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $17.60.

Ocular Therapeutix Stock Performance

OCUL stock opened at $5.22 on Tuesday. The company has a 50-day simple moving average of $8.76 and a 200 day simple moving average of $5.30. 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 posted its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, hitting the consensus estimate of ($0.28). The business had revenue of $14.80 million during the quarter, compared to the consensus estimate of $15.31 million. Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. As a group, research analysts predict that Ocular Therapeutix will post -0.68 earnings per share for the current year.

Insider Activity

In related news, insider Rabia Gurses Ozden sold 7,764 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $38,431.80. Following the transaction, the insider now owns 92,767 shares in the company, valued at $459,196.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Rabia Gurses Ozden sold 7,764 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $38,431.80. Following the transaction, the insider now owns 92,767 shares in the company, valued at $459,196.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Summer Road Llc acquired 930,851 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the acquisition, the insider now directly owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The disclosure for this purchase can be found here. Insiders have sold 39,366 shares of company stock worth $194,862 in the last 90 days. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its position in Ocular Therapeutix by 84.4% during the first quarter. FMR LLC now owns 4,751 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 2,175 shares during the period. Trust Co. of Vermont boosted its position in 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 purchasing an additional 1,000 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Ocular Therapeutix by 350.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 7,152 shares during the period. Steward Partners Investment Advisory LLC boosted its position in Ocular Therapeutix by 61.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,225 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 3,500 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in Ocular Therapeutix by 142.3% during 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 during the period. Institutional investors and hedge funds 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.