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

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

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

Wall Street Analysts Forecast Growth

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

Ocular Therapeutix Stock Performance

NASDAQ:OCUL traded down $0.64 during trading hours on Friday, reaching $6.36. The company had a trading volume of 2,891,880 shares, compared to its average volume of 1,560,783. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -4.82 and a beta of 1.49. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The firm's 50 day moving average price is $7.42 and its 200-day moving average price is $8.69. Ocular Therapeutix, Inc. has a 52 week low of $4.06 and a 52 week high of $11.78.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $17.08 million during the quarter, compared to analysts' expectations of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. On average, analysts forecast that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

Insiders Place Their Bets

In related news, insider Pravin Dugel sold 21,475 shares of the firm's 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 transaction, the insider now owns 3,520,318 shares of the company's stock, valued at approximately $24,184,584.66. This trade represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Donald Notman sold 6,301 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $7.84, for a total transaction of $49,399.84. Following the sale, the insider now directly owns 204,563 shares of the company's stock, valued at approximately $1,603,773.92. This represents a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,895 shares of company stock valued at $283,772. 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.