Ocular Therapeutix (NASDAQ:OCUL) Given Market Outperform Rating at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a report published on Tuesday morning, Benzinga reports. They currently have a $24.00 target price on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued reports about the stock. Piper Sandler lifted their price target on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the company an overweight rating in a research report 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 began coverage on Ocular Therapeutix in a report on Friday, February 9th. They issued a buy rating and a $15.00 target price on the stock. Finally, HC Wainwright restated a buy rating and issued a $12.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $16.80.

Ocular Therapeutix Trading Down 0.1 %

NASDAQ:OCUL opened at $7.79 on Tuesday. Ocular Therapeutix has a 1 year low of $2.00 and a 1 year high of $11.31. The company has a debt-to-equity ratio of 0.82, a quick ratio of 6.59 and a current ratio of 6.66. The stock has a fifty day moving average price of $8.63 and a two-hundred day moving average price of $5.25. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -6.23 and a beta of 1.31.

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, meeting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $15.31 million. As a group, sell-side analysts anticipate that Ocular Therapeutix will post -0.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Ocular Therapeutix

In other news, major shareholder Summer Road Llc purchased 930,851 shares of the stock in a transaction dated Monday, February 26th. The stock was acquired 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 directly owns 8,591,401 shares in the company, valued at approximately $64,607,335.52. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other Ocular Therapeutix news, major shareholder Summer Road Llc acquired 930,851 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were acquired 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 directly owns 8,591,401 shares of the company’s stock, valued at $64,607,335.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Rabia Gurses Ozden sold 7,764 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total value of $38,431.80. Following the completion of the transaction, the insider now owns 92,767 shares of the company’s stock, valued at $459,196.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,366 shares of company stock worth $194,862. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position in shares of Ocular Therapeutix by 84.4% in the 1st quarter. FMR LLC now owns 4,751 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 2,175 shares during the period. Steward Partners Investment Advisory LLC lifted 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 valued at $26,000 after buying an additional 3,500 shares in the last quarter. Trust Co. of Vermont lifted 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 valued at $27,000 after buying an additional 1,000 shares in the last quarter. Rafferty Asset Management LLC purchased a new stake in Ocular Therapeutix during the third quarter worth approximately $37,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Ocular Therapeutix in the third quarter worth $38,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

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.