JMP Securities Reaffirms Market Outperform Rating for Ocular Therapeutix (NASDAQ:OCUL)

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “market outperform” rating reissued by analysts at JMP Securities in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $24.00 price objective on the biopharmaceutical company’s stock. JMP Securities’ price objective would suggest a potential upside of 205.34% from the company’s previous close.

Several other analysts have also recently commented on the company. Bank of America started 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. StockNews.com lowered shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday, February 14th. Finally, Piper Sandler upped their target price on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the stock 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 given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.80.

Ocular Therapeutix Price Performance

NASDAQ OCUL traded up $0.06 during trading on Tuesday, reaching $7.86. 310,370 shares of the company traded hands, compared to its average volume of 1,962,822. 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 company has a market cap of $1.17 billion, a price-to-earnings ratio of -6.26 and a beta of 1.31. 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 $8.63 and its two-hundred day moving average price is $5.25.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data 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 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. As a group, analysts anticipate that Ocular Therapeutix will post -0.68 EPS for the current year.

Insider Activity at Ocular Therapeutix

In other news, CEO Antony C. Mattessich sold 18,338 shares of Ocular Therapeutix stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $90,773.10. Following the transaction, the chief executive officer now directly owns 427,943 shares of the company’s stock, valued at $2,118,317.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Antony C. Mattessich sold 18,338 shares of the business’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 $90,773.10. Following the sale, the chief executive officer now directly owns 427,943 shares of the company’s stock, valued at approximately $2,118,317.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Summer Road Llc purchased 930,851 shares of the business’s stock in a transaction dated 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 $64,607,335.52. The disclosure for this purchase can be found here. Insiders have sold 39,366 shares of company stock worth $194,862 in the last ninety days. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in 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 increased 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 purchasing an additional 1,000 shares during the period. Virtu Financial LLC acquired a new stake in shares of Ocular Therapeutix in the fourth quarter valued at approximately $277,000. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $238,000 after buying an additional 12,859 shares during the period. Finally, GSA Capital Partners LLP increased its stake in Ocular Therapeutix by 5.7% during the 4th 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. Institutional investors 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.