Ocular Therapeutix (OCUL) Buy Rating Reaffirmed at JMP Securities


Ocular Therapeutix (NASDAQ:OCUL – Get an assessment)JMP’s stock had its “buy” rating restated by analysts at JMP Securities in a report released Wednesday. They currently have a price target of $20.00 on shares of the biopharmaceutical company. JMP Securities’ price target indicates upside potential of 362.96% from the stock’s previous close.

Other research analysts have also recently published reports on the company. StockNews.com began covering Ocular Therapeutix in a report on Thursday, March 31. They issued a “hold” rating for the company. Piper Sandler cut her price target on shares of Ocular Therapeutix from $16.00 to $10.00 in a Friday, May 27 report. Finally, HC Wainwright cut its price target on Ocular Therapeutix shares from $14.00 to $10.00 in a Tuesday, May 10 report. One research analyst has assigned the stock a hold rating, three have assigned a buy rating and one has assigned the stock a high buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $17.25.

NASDAQ: OCUL lost $0.02 during trading hours on Wednesday, hitting $4.32. 12,791 shares of the company were traded, against an average volume of 591,578. The company’s 50-day moving average is $3.59 and its 200-day moving average is $4.81. The stock has a market capitalization of $331.60 million, a P/E ratio of -4.65 and a beta of 1.50. The company has a debt ratio of 0.65, a current ratio of 7.29 and a quick ratio of 7.23. Ocular Therapeutix has a 1-year minimum of $2.91 and a 1-year maximum of $13.75.

Ocular Therapeutix (NASDAQ:OCUL – Get an assessment) last announced its results on Monday, May 9. The biopharmaceutical company reported ($0.22) EPS for the quarter, beating consensus analyst estimates of ($0.25) by $0.03. The company posted revenue of $13.19 million for the quarter, compared to $15.03 million expected by analysts. Ocular Therapeutix posted a negative return on equity of 26.50% and a negative net margin of 45.00%. As a group, research analysts predict Ocular Therapeutix will post -0.75 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently changed their positions in the stock. Ahrens Investment Partners LLC acquired a new position in Ocular Therapeutix in Q4 for a value of approximately $52,000. Provident Investment Management Inc. acquired a new position in shares of Ocular Therapeutix during the first quarter worth $54,000. Coastal Bridge Advisors LLC bought a new position in shares of Ocular Therapeutix in the fourth quarter worth $76,000. Hikari Power Ltd increased its stake in Ocular Therapeutix by 41.7% during the 1st quarter. Hikari Power Ltd now owns 17,000 shares of the biopharmaceutical company valued at $84,000 after buying an additional 5,000 shares last quarter. Finally, Fox Run Management LLC acquired a new stake in Ocular Therapeutix during the 4th quarter at a value of $89,000. Hedge funds and other institutional investors own 53.94% of the company’s shares.

Ocular Therapeutix Company Profile (Get an assessment)

Ocular Therapeutix, Inc, a biopharmaceutical company, is focused on the formulation, development and commercialization of therapies for eye diseases and conditions using its bioabsorbable hydrogel formulation technology. The company markets ReSure Sealant, an ophthalmic device to prevent wound leakage in corneal incisions after cataract surgery; and DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.

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