Ocular Therapeutix (NASDAQ:OCUL) Rating Reiterated by JMP Securities

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “market outperform” rating reiterated by analysts at JMP Securities in a report released on Tuesday, Benzinga reports. They presently have a $24.00 price objective on the biopharmaceutical company’s stock. JMP Securities’ target price would suggest a potential upside of 216.62% from the company’s current price.

Other equities analysts also recently issued reports about the company. StockNews.com downgraded Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Piper Sandler lifted their target price on Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, February 14th. Finally, Bank of America began coverage on Ocular Therapeutix in a research note on Friday, February 9th. They issued a “buy” rating and a $15.00 target price for the company. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Ocular Therapeutix currently has an average rating of “Moderate Buy” and an average price target of $16.80.

Ocular Therapeutix Stock Down 2.7 %

NASDAQ:OCUL opened at $7.58 on Tuesday. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -6.06 and a beta of 1.30. Ocular Therapeutix has a one year low of $2.00 and a one year high of $11.31. The stock has a 50-day simple moving average of $8.74 and a 200 day simple moving average of $5.29. The company has a debt-to-equity ratio of 0.82, a quick ratio of 6.59 and a current ratio of 6.66.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, hitting analysts’ consensus estimates 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 return on equity of 321.12% and a negative net margin of 138.15%. Sell-side analysts predict that Ocular Therapeutix will post -0.68 EPS for the current fiscal year.

Insider Buying and Selling at Ocular Therapeutix

In other news, insider Rabia Gurses Ozden sold 7,764 shares of Ocular Therapeutix stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $38,431.80. Following the sale, the insider now owns 92,767 shares of the company’s stock, valued at $459,196.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Rabia Gurses Ozden sold 7,764 shares of Ocular Therapeutix stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $38,431.80. Following the sale, the insider now owns 92,767 shares of the company’s stock, valued at $459,196.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Summer Road Llc purchased 930,851 shares of the business’s stock in a transaction dated 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 acquisition, the insider now 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 sold a total of 39,366 shares of company stock worth $194,862 over the last ninety days. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Ocular Therapeutix by 26.0% during the fourth quarter. Vanguard Group Inc. now owns 5,118,102 shares of the biopharmaceutical company’s stock worth $22,827,000 after purchasing an additional 1,057,123 shares in the last quarter. Trust Co. of Vermont raised its holdings 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 in the last quarter. Virtu Financial LLC bought a new stake in Ocular Therapeutix during the fourth quarter worth approximately $277,000. Price T Rowe Associates Inc. MD raised its holdings in Ocular Therapeutix by 31.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 53,344 shares of the biopharmaceutical company’s stock worth $238,000 after purchasing an additional 12,859 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in Ocular Therapeutix by 5.7% during the fourth quarter. GSA Capital Partners LLP now owns 246,903 shares of the biopharmaceutical company’s stock worth $1,101,000 after purchasing an additional 13,321 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.