Ocular Therapeutix (NASDAQ:OCUL) Stock Rating Reaffirmed by JMP Securities

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

A number of other equities analysts have also recently issued reports on the company. Bank of America initiated coverage on Ocular Therapeutix in a report on Friday, February 9th. They set a buy rating and a $15.00 target price on the stock. Piper Sandler lifted their price objective on Ocular Therapeutix from $10.00 to $15.00 and gave the company an overweight rating in a 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. Finally, HC Wainwright reiterated a buy rating and set a $12.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $17.60.

Ocular Therapeutix Trading Down 10.9 %

Shares of OCUL opened at $5.22 on Tuesday. 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 has a 1 year low of $2.00 and a 1 year high of $11.31. The stock’s 50-day moving average price is $8.76 and its two-hundred day moving average price is $5.30.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $14.80 million for the quarter, compared to analysts’ expectations of $15.31 million. Equities analysts expect that Ocular Therapeutix will post -0.68 EPS for the current year.

Insider Activity at Ocular Therapeutix

In related news, CFO Donald Notman sold 6,433 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 value of $31,843.35. Following the sale, the chief financial officer now owns 139,932 shares of the company’s stock, valued at approximately $692,663.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder Summer Road Llc bought 930,851 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $7.52 per share, with a total value of $6,999,999.52. Following the transaction, the insider now owns 8,591,401 shares in the company, valued at $64,607,335.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Donald Notman sold 6,433 shares of Ocular Therapeutix stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total value of $31,843.35. Following the completion of the sale, the chief financial officer now directly owns 139,932 shares in the company, valued at approximately $692,663.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,366 shares of company stock valued at $194,862. 5.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Ocular Therapeutix by 84.4% during the 1st quarter. FMR LLC now owns 4,751 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 2,175 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Ocular Therapeutix by 61.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,225 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 3,500 shares during the last quarter. Trust Co. of Vermont increased its position in shares of Ocular Therapeutix by 20.0% during the 4th 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 during the last quarter. Rafferty Asset Management LLC acquired a new position in shares of Ocular Therapeutix during the 3rd quarter worth approximately $37,000. Finally, SG Americas Securities LLC acquired a new position in shares of Ocular Therapeutix during the 3rd quarter worth approximately $38,000. 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.