JMP Securities Cuts Ocular Therapeutix (NASDAQ:OCUL) Price Target to $22.00

Ocular Therapeutix (NASDAQ:OCUL) had its price objective cut by JMP Securities from $24.00 to $22.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a market outperform rating on the biopharmaceutical company’s stock.

OCUL has been the subject of a number of other reports. Bank of America began coverage on Ocular Therapeutix in a report on Friday, February 9th. They issued a buy rating and a $15.00 price target for the company. StockNews.com downgraded shares of Ocular Therapeutix from a hold rating to a sell rating in a research report on Friday, April 5th. Piper Sandler lifted their price target on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the stock an overweight rating in a research note on Monday, February 26th. TD Cowen decreased their price objective on shares of Ocular Therapeutix from $11.00 to $7.00 and set a hold rating for the company in a research note on Wednesday. Finally, HC Wainwright reiterated a buy rating and set a $16.00 target price on shares of Ocular Therapeutix in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $15.17.

Ocular Therapeutix Stock Up 1.6 %

Ocular Therapeutix stock traded up $0.09 during trading on Wednesday, reaching $5.84. The stock had a trading volume of 1,718,298 shares, compared to its average volume of 2,317,501. Ocular Therapeutix has a 52-week low of $2.00 and a 52-week high of $11.31. The business has a 50 day moving average price of $8.02 and a 200 day moving average price of $5.56. The stock has a market cap of $903.60 million, a PE ratio of -4.60 and a beta of 1.47. The company has a quick ratio of 6.59, a current ratio of 6.66 and a debt-to-equity ratio of 0.82.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, hitting analysts’ consensus estimates of ($0.28). Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. The firm had revenue of $14.80 million during the quarter, compared to the consensus estimate of $15.31 million. On average, analysts predict that Ocular Therapeutix will post -0.68 EPS for the current year.

Insider Buying and Selling at Ocular Therapeutix

In related news, major shareholder Summer Road Llc purchased 930,851 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was acquired at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the purchase, the insider now directly owns 8,591,401 shares of the company’s stock, valued at $64,607,335.52. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

A number of institutional investors have recently modified their holdings of the business. Trust Co. of Vermont raised its position in Ocular Therapeutix by 20.0% in the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 1,000 shares in the last quarter. Barclays PLC grew its stake in shares of Ocular Therapeutix by 22.9% during the 3rd quarter. Barclays PLC now owns 25,963 shares of the biopharmaceutical company’s stock worth $81,000 after purchasing an additional 4,840 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Ocular Therapeutix by 142.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 5,730 shares in the last quarter. Essex Investment Management Co. LLC lifted its stake in shares of Ocular Therapeutix by 1.6% in the first quarter. Essex Investment Management Co. LLC now owns 376,200 shares of the biopharmaceutical company’s stock valued at $3,423,000 after purchasing an additional 5,828 shares during the period. Finally, Principal Financial Group Inc. grew its position in Ocular Therapeutix by 27.0% during the first quarter. Principal Financial Group Inc. now owns 27,880 shares of the biopharmaceutical company’s stock worth $254,000 after buying an additional 5,921 shares during the period. 59.21% of the stock is currently 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.