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

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report)'s stock had its "market outperform" rating reaffirmed by equities researchers at JMP Securities in a note issued to investors on Tuesday, Benzinga reports. They presently have a $24.00 target price on the biopharmaceutical company's stock. JMP Securities' target price would indicate a potential upside of 208.09% from the company's previous close.

Several other brokerages have also commented on OCUL. HC Wainwright reissued a "buy" rating and set a $12.00 price target on shares of Ocular Therapeutix in a research note on Wednesday, February 14th. Piper Sandler boosted their price target on Ocular Therapeutix from $10.00 to $15.00 and gave the stock an "overweight" rating in a research note on Monday, February 26th. StockNews.com lowered Ocular Therapeutix from a "hold" rating to a "sell" rating in a research note on Friday, April 5th. Finally, Bank of America assumed coverage on Ocular Therapeutix in a research note on Friday, February 9th. They set a "buy" rating and a $15.00 price target on the stock. One 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, Ocular Therapeutix presently has an average rating of "Moderate Buy" and a consensus price target of $16.80.

Ocular Therapeutix Stock Performance

Shares of NASDAQ OCUL traded down $0.01 during midday trading on Tuesday, reaching $7.79. 1,343,459 shares of the company were exchanged, compared to its average volume of 1,977,551. Ocular Therapeutix has a 1 year low of $2.00 and a 1 year high of $11.31. The stock has a fifty day simple moving average of $8.63 and a 200 day simple moving average of $5.25. The stock has a market cap of $1.16 billion, a P/E ratio of -6.23 and a beta of 1.31. 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 - Get Free Report) last announced its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share 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 for the quarter, compared to analyst estimates of $15.31 million. On average, research analysts forecast that Ocular Therapeutix will post -0.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ocular Therapeutix news, CEO Antony C. Mattessich sold 18,338 shares of the business's stock in a transaction 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 transaction, the chief executive officer now directly owns 427,943 shares in the company, valued at approximately $2,118,317.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ocular Therapeutix news, CEO Antony C. Mattessich sold 18,338 shares of the business's stock in a transaction 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 transaction, the chief executive officer now directly owns 427,943 shares in the company, valued at approximately $2,118,317.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Donald Notman sold 6,433 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 $31,843.35. Following the completion of the transaction, the chief financial officer now owns 139,932 shares of the company's stock, valued at $692,663.40. The disclosure for this sale can be found here. Insiders sold 39,366 shares of company stock worth $194,862 in the last ninety days. Insiders own 5.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OCUL. FMR LLC grew its stake 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 valued at $25,000 after buying an additional 2,175 shares during the period. Steward Partners Investment Advisory LLC grew its stake 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 valued at $26,000 after buying an additional 3,500 shares during the period. Trust Co. of Vermont grew its stake 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 buying an additional 1,000 shares during the period. Rafferty Asset Management LLC purchased a new stake in shares of Ocular Therapeutix during the 3rd quarter valued at $37,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Ocular Therapeutix during the 3rd quarter valued at $38,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

About Ocular Therapeutix

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.