Raymond James Financial Inc. Purchases Shares of 201,623 Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Raymond James Financial Inc. acquired a new stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the fourth quarter, Holdings Channel.com reports. The firm acquired 201,623 shares of the biopharmaceutical company’s stock, valued at approximately $1,722,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OCUL. Palumbo Wealth Management LLC bought a new stake in Ocular Therapeutix in the fourth quarter valued at $100,000. Aigen Investment Management LP acquired a new stake in shares of Ocular Therapeutix in the 4th quarter valued at about $159,000. China Universal Asset Management Co. Ltd. increased its position in Ocular Therapeutix by 11.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company’s stock valued at $285,000 after buying an additional 3,347 shares in the last quarter. Intech Investment Management LLC acquired a new position in Ocular Therapeutix during the 3rd quarter worth approximately $422,000. Finally, Truist Financial Corp acquired a new position in Ocular Therapeutix during the 4th quarter worth approximately $427,000. Institutional investors own 59.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OCUL. Royal Bank of Canada started coverage on shares of Ocular Therapeutix in a report on Tuesday, March 18th. They set an “outperform” rating and a $17.00 price objective for the company. JMP Securities set a $19.00 price objective on Ocular Therapeutix in a report on Tuesday, March 4th. Needham & Company LLC started coverage on Ocular Therapeutix in a research note on Tuesday, March 11th. They issued a “buy” rating and a $15.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.38.

Ocular Therapeutix Price Performance

Shares of NASDAQ:OCUL opened at $7.33 on Tuesday. The company has a market capitalization of $1.17 billion, a P/E ratio of -5.55 and a beta of 1.34. The company’s 50-day moving average is $7.51 and its 200 day moving average is $8.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01. Ocular Therapeutix, Inc. has a fifty-two week low of $4.06 and a fifty-two week high of $11.78.

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

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,475 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $6.87, for a total value of $147,533.25. Following the sale, the insider now directly owns 3,520,318 shares in the company, valued at $24,184,584.66. This represents a 0.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald Notman sold 11,119 shares of the business’s 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 transaction, the insider now owns 193,444 shares of the company’s stock, valued at $1,510,797.64. This trade represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,895 shares of company stock worth $283,772. Corporate insiders own 3.50% of the company’s stock.

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.