JMP Securities Cuts Ocular Therapeutix (NASDAQ:OCUL) Price Target to $22.00

Ocular Therapeutix (NASDAQ:OCUL) had its target price dropped by research analysts at JMP Securities from $24.00 to $22.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “market outperform” rating on the biopharmaceutical company’s stock. JMP Securities’ target price indicates a potential upside of 292.86% from the company’s current price.

Several other research firms also recently issued reports on OCUL. Piper Sandler upped their price objective 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. TD Cowen dropped their price target on Ocular Therapeutix from $11.00 to $7.00 and set a “hold” rating on the stock in a research note on Wednesday. Bank of America assumed coverage on Ocular Therapeutix in a research note on Friday, February 9th. They issued a “buy” rating and a $15.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Ocular Therapeutix in a report on Friday, April 19th. Finally, StockNews.com cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.50.

Ocular Therapeutix Stock Down 5.6 %

Shares of OCUL traded down $0.33 during mid-day trading on Wednesday, reaching $5.60. The company’s stock had a trading volume of 1,673,204 shares, compared to its average volume of 2,312,405. 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 has a 12-month low of $2.00 and a 12-month high of $11.31. The stock has a market cap of $866.49 million, a PE ratio of -4.50 and a beta of 1.47. The company’s 50 day moving average is $8.10 and its 200 day moving average is $5.56.

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

Insider Activity

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 stock was purchased 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 of the company’s stock, valued at approximately $64,607,335.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

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