Ocular Therapeutix Inc. [OCUL] Unchanged to Outperform at JMP Securities

JMP Securities maintained its Ocular Therapeutix Inc. [NASDAQ:OCUL] rating to the equivalent of ‎Outperform but changed the price target to $30 from $20, in a research note dated December 30, ‎‎2020. That figure represents around a 49.40% premium from where the company’s shares closed on ‎Tuesday. Other analysts also revised their coverage, with H.C. Wainwright’s analysts downgrading the ‎shares from “a Buy” rating to “a Neutral” rating in a research note to investors issued in late December. ‎Meanwhile, Berenberg had launched its coverage on OCUL with “Buy”, in a research note produced ‎for clients December 17, 2020. In addition, there was no change from Raymond James on November ‎‎13, 2020. The rater maintained OCUL to “a Strong buy” but assigned new target price of $25.

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Is Ocular Therapeutix Inc. [NASDAQ:OCUL] a Good Buy Right Now?

It should be noted that ‎OCUL technical indicators for short, intermediate as well as long term progress have placed an overall ‎average of 80% as Buy. The average signal changed from 100% Buy in the last week and compares with ‎‎100% Buy in the past month. Data from Ocular Therapeutix Inc.’s Trend Spotter indicated that the ‎signals were Bullish. The stock current average is 1.38 million shares in the past 20 days and the short ‎term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 1.23 ‎million shares while the medium term average advocated for 100% Buy. The average long-term signal ‎stands at 100% Buy and the 100-day average volume stands at 1.19 million shares.‎‎

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OCUL Price Performance

On Wall Street, Ocular Therapeutix Inc. [NASDAQ:OCUL] finished ‎Tuesday’s session down -1.52% at $20.08. The stock went up to $20.69 at the same session while its ‎lowest single day price was $18.97. In the last five days, it saw a fall of about -5.51%, Ocular ‎Therapeutix Inc. shares gained by almost 408.35% since the beginning of the year. However, the share ‎price has dropped to as low as -17.37% below its one year high. On 12/16/20, the company shares ‎recorded $24.30, the highest single-day price it has got to in the last 52-weeks and a 52-week low was ‎seen on 03/13/20, the same year at $3.78. The company’s shares have inclined by 408.35% in the past ‎year. The 50-day SMA achieved is $15.77 while the 200-day SMA is $9.56. Volume dropped to 1.19 ‎million from 1.31 million in the previous session.‎‎

OCUL Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing is ‎perceived around 19.14 level, and in case of violation of this particular level, it will cause more drop to ‎‎18.19 level. On the upper level, 21.63 is still the key resistance. The stock may increase to the ‎subsequent resistance at 20.86. The Relative Strength Index (RSI) pinned on the 14-day chart is 55.26, ‎implying a neutral technical stance while the MACD stands at -0.46, meaning price will decrease in the ‎next trading period. Percent R indicator moved to 78.88%, implying bearish price movement. ‎Stochastic %K at 41.17% suggest selling the stock.‎‎

What is the short interest in Ocular Therapeutix Inc.?

Short interest in the Ocular ‎Therapeutix Inc. stock has surged, increasing by 0.8 million shares to total 5.0 million shares on Dec 14, ‎‎2020. The interest had seen shares on Nov 12, 2020 stand at 5.8 million, data from Yahoo Finance ‎shows. The decrease of -16.0% suggests the stock saw some decreased bullish sentiment. The stock’s ‎days to cover (short ratio) moved to while the shorted shares account for just 7.84% of the overall ‎float for the stock.‎‎

Ocular Therapeutix Inc.’s Biggest Shareholders: Who Owns Ocular Therapeutix Inc. ‎‎[OCUL]?

Filings by Opaleye Management, Inc. showed that the firm now holds a total of ‎‎5,984,200 shares or roughly 8.38% of the outstanding OCUL shares. This means their shares have ‎reduced by 0 from the 5,984,200 the investor reportedly held in its prior 13-F filing. With the conclusion ‎of the sale, Summer Road LLC updated stake is worth $98,322,420. Details in the latest 13F filings reveal ‎that BlackRock Fund Advisors acquired their 13.54% stake valued at $65,054,745 while The Vanguard ‎Group, Inc. cut theirs at $49,557,498. During the last quarter, BlackRock Fund Advisors raised 443,326 of ‎its shares in Ocular Therapeutix Inc. while The Vanguard Group, Inc. sold -40,055 shares. The RA Capital ‎Management LP’s holdings currently number 2,727,272 shares at $54763621.76. According to the firm’s ‎last 13F report, Deltec Asset Management LLC shares in the company at filing stood at 2,472,067 ‎shares, roughly $43,261,173.‎‎

OCUL Earnings Forecast For The Current Quarter

Ocular Therapeutix Inc. [OCUL] is expected ‎to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the ‎company expected revenues of $9.91M and an earnings per share of -$0.16 for Dec 2020. Looking ‎further ahead, the company is expected to report revenue of $10.19M at an EPS of -$0.16 for Mar ‎‎2021. The estimates represent upside of 170.70% and 58.70% in the company’s revenue and earnings ‎per share, respectively, on a year-on-year basis.‎‎

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OCUL Earnings Estimates For The Current ‎Year

For the financial year, Ocular Therapeutix Inc. [NASDAQ:OCUL] is expected to bring in ‎revenue of $23.54M. The returns are nearly $19.31 million higher than the company’s actual revenue ‎recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -1.25, higher than that ‎of FY19 by $0.66. Estimates put this year’s earnings growth at 34.60%, 52.80% for the next. As for sales, ‎forecasts are for an increase of 456.90% in the current fiscal year and a further 170.70% over the ‎following year.‎

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