Ocular Therapeutix (NASDAQ:OCUL) Earns “Market Outperform” Rating from JMP Securities

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “market outperform” rating reiterated by investment analysts at JMP Securities in a research note issued on Tuesday, Benzinga reports. They currently have a $24.00 target price on the biopharmaceutical company’s stock. JMP Securities’ price target indicates a potential upside of 216.62% from the company’s previous close.

Several other brokerages have also weighed in on OCUL. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, February 14th. StockNews.com lowered shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Piper Sandler increased their price objective 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. Finally, 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 objective on the stock. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat, Ocular Therapeutix presently has an average rating of “Moderate Buy” and a consensus price target of $16.80.

Ocular Therapeutix Price Performance

OCUL opened at $7.58 on Tuesday. Ocular Therapeutix has a one year low of $2.00 and a one year high of $11.31. 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 company’s 50 day simple moving average is $8.74 and its 200-day simple moving average is $5.29. The stock has a market capitalization of $1.13 billion, a P/E ratio of -6.06 and a beta of 1.30.

Ocular Therapeutix (NASDAQ:OCUL) last released 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). Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. The business had revenue of $14.80 million for the quarter, compared to analysts’ expectations of $15.31 million. Sell-side analysts anticipate that Ocular Therapeutix will post -0.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Summer Road Llc bought 930,851 shares of the business’s stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the acquisition, the insider now owns 8,591,401 shares in the company, valued at approximately $64,607,335.52. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Ocular Therapeutix news, CEO Antony C. Mattessich sold 18,338 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total value of $90,773.10. Following the sale, 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 document filed with the SEC, which is available at the SEC website. Also, major shareholder Summer Road Llc bought 930,851 shares of the business’s stock in a transaction 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 completion of 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. Over the last three months, insiders have sold 39,366 shares of company stock worth $194,862. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 1,057,123 shares during the period. Trust Co. of Vermont raised its holdings 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 during the period. Virtu Financial LLC acquired a new stake in shares of Ocular Therapeutix during the fourth quarter worth $277,000. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 acquiring an additional 12,859 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in shares of 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 acquiring an additional 13,321 shares during the period. 59.21% of the stock is currently owned by institutional investors and hedge funds.

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.