JMP Securities Reaffirms “Buy” Rating for Ocular Therapeutix (NASDAQ:OCUL)

JMP Securities reaffirmed their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research report released on Friday morning, TipRanks reports. They currently have a $33.00 target price on the biopharmaceutical company’s stock.

OCUL has been the subject of several other reports. Piper Sandler reiterated a buy rating and issued a $28.00 price target on shares of Ocular Therapeutix in a report on Friday, July 23rd. Zacks Investment Research downgraded Ocular Therapeutix from a hold rating to a sell rating in a report on Friday, September 17th. Finally, HC Wainwright upgraded Ocular Therapeutix from a neutral rating to a buy rating and set a $17.00 price target for the company in a report on Tuesday, August 10th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $23.67.

Shares of Ocular Therapeutix stock opened at $10.49 on Friday. The business has a 50 day moving average price of $10.87 and a 200 day moving average price of $13.97. The company has a debt-to-equity ratio of 0.63, a current ratio of 10.05 and a quick ratio of 10.00. The company has a market capitalization of $803.36 million, a P/E ratio of -5.49 and a beta of 2.14. Ocular Therapeutix has a 1 year low of $7.50 and a 1 year high of $24.30.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Monday, August 9th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.09. Ocular Therapeutix had a negative return on equity of 51.58% and a negative net margin of 318.77%. As a group, research analysts expect that Ocular Therapeutix will post -0.59 EPS for the current fiscal year.

In related news, CEO Antony C. Mattessich acquired 5,000 shares of the stock in a transaction dated Friday, August 20th. The stock was bought at an average cost of $9.89 per share, with a total value of $49,450.00. Following the purchase, the chief executive officer now directly owns 102,900 shares of the company’s stock, valued at $1,017,681. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.60% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in OCUL. FMR LLC boosted its position in Ocular Therapeutix by 548.5% during the 2nd quarter. FMR LLC now owns 1,198,937 shares of the biopharmaceutical company’s stock worth $17,001,000 after purchasing an additional 1,014,069 shares during the period. Kornitzer Capital Management Inc. KS purchased a new stake in Ocular Therapeutix during the 2nd quarter worth $7,956,000. Rubric Capital Management LP purchased a new stake in Ocular Therapeutix during the 1st quarter worth $6,275,000. Kamunting Street Capital Management L.P. boosted its position in Ocular Therapeutix by 527.8% during the 1st quarter. Kamunting Street Capital Management L.P. now owns 436,307 shares of the biopharmaceutical company’s stock worth $7,160,000 after purchasing an additional 366,806 shares during the period. Finally, BlackRock Inc. boosted its position in Ocular Therapeutix by 6.4% during the 1st quarter. BlackRock Inc. now owns 5,867,062 shares of the biopharmaceutical company’s stock worth $96,278,000 after purchasing an additional 354,798 shares during the period. 63.02% of the stock is owned by hedge funds and other institutional investors.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapies for diseases and conditions of the eye. Its product pipeline includes Dextenza, OTX-TP, and OTX-TIC. The company was founded by Amarpreet S. Sawhney and Farhad Khosravi on September 12, 2006 and is headquartered in Bedford, MA.

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Analyst Recommendations for Ocular Therapeutix (NASDAQ:OCUL)

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