Raymond James Financial Inc. Acquires New Position in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Raymond James Financial Inc. purchased a new stake in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 201,623 shares of the biopharmaceutical company's stock, valued at approximately $1,722,000. Raymond James Financial Inc. owned 0.13% of Ocular Therapeutix at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Atlas Capital Advisors Inc. purchased a new stake in shares of Ocular Therapeutix in the 4th quarter worth approximately $43,000. AlphaQuest LLC bought a new position in Ocular Therapeutix during the fourth quarter valued at approximately $53,000. Palumbo Wealth Management LLC purchased a new stake in Ocular Therapeutix in the fourth quarter worth approximately $100,000. Cibc World Markets Corp bought a new stake in Ocular Therapeutix in the 4th quarter worth approximately $124,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Ocular Therapeutix during the 4th quarter valued at $149,000. Institutional investors own 59.21% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on OCUL. JMP Securities set a $19.00 price objective on Ocular Therapeutix in a report on Tuesday, March 4th. Royal Bank of Canada began coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 price objective on the stock. HC Wainwright restated a "buy" rating and set a $15.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. Needham & Company LLC reiterated a "buy" rating and set a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, April 8th. Finally, William Blair assumed coverage on Ocular Therapeutix in a report on Tuesday, April 8th. They issued an "outperform" rating on the stock. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $16.38.

Ocular Therapeutix Price Performance

NASDAQ:OCUL traded up $0.27 on Friday, reaching $8.80. 1,558,376 shares of the company's stock traded hands, compared to its average volume of 1,436,686. The stock has a 50-day simple moving average of $7.40 and a 200-day simple moving average of $8.41. Ocular Therapeutix, Inc. has a 12 month low of $4.79 and a 12 month high of $11.78. The firm has a market cap of $1.40 billion, a PE ratio of -6.67 and a beta of 1.51. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. The company had revenue of $17.08 million for the quarter, compared to analysts' expectations of $16.89 million. Equities research analysts forecast that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Insider Buying and Selling at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,475 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the sale, the insider now directly owns 3,520,318 shares of the company's stock, valued at $24,184,584.66. This trade represents a 0.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Donald Notman sold 11,119 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total transaction of $86,839.39. Following the completion of the sale, the insider now directly owns 193,444 shares in the company, valued at approximately $1,510,797.64. This represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.50% 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.