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.
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.
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.