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

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

Other analysts also recently issued research 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. HC Wainwright reaffirmed a buy rating and set a $12.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, February 14th. Bank of America began coverage on shares of Ocular Therapeutix in a report on Friday, February 9th. They set a buy rating and a $15.00 price target on the stock. Finally, Piper Sandler raised 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. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $16.80.

Ocular Therapeutix Price Performance

Shares of NASDAQ OCUL opened at $5.86 on Tuesday. The business has a fifty day moving average price of $8.74 and a 200 day moving average price of $5.29. 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.

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 analysts’ consensus estimates of ($0.28). Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. The company had revenue of $14.80 million during the quarter, compared to analysts’ expectations of $15.31 million. Research analysts anticipate that Ocular Therapeutix will post -0.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Rabia Gurses Ozden sold 7,764 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total value of $38,431.80. Following the sale, the insider now directly owns 92,767 shares in the company, valued at approximately $459,196.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Ocular Therapeutix news, major shareholder Summer Road Llc purchased 930,851 shares of the 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rabia Gurses Ozden sold 7,764 shares of the firm’s 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 directly owns 92,767 shares in the company, valued at approximately $459,196.65. The disclosure for this sale can be found here. Insiders have sold 39,366 shares of company stock valued at $194,862 over the last ninety days. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Deltec Asset Management LLC lifted its position in Ocular Therapeutix by 18.5% in the fourth quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company’s stock valued at $10,898,000 after acquiring an additional 381,810 shares during the last quarter. Legato Capital Management LLC purchased a new stake in shares of Ocular Therapeutix in the 4th quarter valued at about $667,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Ocular Therapeutix by 350.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 7,152 shares during the period. GSA Capital Partners LLP grew its stake in Ocular Therapeutix by 96.4% during the 3rd quarter. GSA Capital Partners LLP now owns 233,582 shares of the biopharmaceutical company’s stock worth $733,000 after buying an additional 114,629 shares during the last quarter. Finally, Graham Capital Management L.P. acquired a new position in Ocular Therapeutix during the third quarter worth approximately $299,000. 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.