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

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

OCUL has been the topic of several other reports. HC Wainwright reiterated a buy rating and set a $12.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday, February 14th. Bank of America began coverage on shares of Ocular Therapeutix in a report on Friday, February 9th. They issued a buy rating and a $15.00 price objective for the company. Piper Sandler increased their target price 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, StockNews.com downgraded shares of Ocular Therapeutix from a hold rating to a sell rating in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, Ocular Therapeutix currently has an average rating of Moderate Buy and an average target price of $16.80.

Ocular Therapeutix Price Performance

Shares of Ocular Therapeutix stock opened at $5.86 on Tuesday. The company has a 50 day simple moving average of $8.74 and a two-hundred day simple moving average 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 current ratio of 6.66, a quick ratio of 6.59 and a debt-to-equity ratio of 0.82.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.28). The company had revenue of $14.80 million during the quarter, compared to the consensus estimate of $15.31 million. Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. As a group, research analysts anticipate that Ocular Therapeutix will post -0.68 earnings per share for the current fiscal year.

Insider Transactions at Ocular Therapeutix

In related news, 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 transaction of $38,431.80. Following the completion of the sale, the insider now directly owns 92,767 shares in the company, valued at approximately $459,196.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Rabia Gurses Ozden sold 7,764 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $38,431.80. Following the transaction, the insider now owns 92,767 shares in the company, valued at approximately $459,196.65. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Antony C. Mattessich sold 18,338 shares of the 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 $90,773.10. Following the completion of the sale, the chief executive officer now owns 427,943 shares of the company’s stock, valued at approximately $2,118,317.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,366 shares of company stock worth $194,862. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Ocular Therapeutix by 26.0% during the 4th quarter. Vanguard Group Inc. now owns 5,118,102 shares of the biopharmaceutical company’s stock valued at $22,827,000 after acquiring an additional 1,057,123 shares during the period. 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 valued at $27,000 after purchasing an additional 1,000 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Ocular Therapeutix in the 4th quarter worth approximately $277,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ocular Therapeutix by 31.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 53,344 shares of the biopharmaceutical company’s stock worth $238,000 after buying an additional 12,859 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of Ocular Therapeutix by 5.7% in the fourth quarter. GSA Capital Partners LLP now owns 246,903 shares of the biopharmaceutical company’s stock worth $1,101,000 after buying an additional 13,321 shares during the last quarter. 59.21% of the stock is 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.