Analyst Jonathan Wolleben from JMP Securities has reaffirmed Ocular Therapeutix (NASDAQ: OCUL) with a Market Outperform rating and a $24 price target on March 13, 2024. This update is in line with the overall sentiment among analysts, who have also rated the company as outperform with price targets varying from $9 to $24. The recent announcement by JMP Securities to double the price target from $12 to $24 comes after Ocular Therapeutix released its fourth-quarter results. Despite the positive report, JMP Securities continues to maintain their Market Outperform rating on the company.
OCUL Stock Shows Strong Performance on March 13, 2024: Potential for Further Growth Ahead
On March 13, 2024, OCUL stock showed strong performance as it traded near the top of its 52-week range and above its 200-day simple moving average. This indicates that the stock has been on an upward trend over the long term. The price of OCUL shares increased by $0.20 since the market last closed, representing a 2.15% rise. The stock opened at $9.55, which was $0.26 higher than its previous close. This opening price was a positive sign for investors, suggesting that there was strong demand for the stock at the beginning of the trading day. Overall, the price momentum for OCUL on March 13, 2024, was positive, with the stock showing strength and potential for further growth. Investors may want to keep an eye on OCUL stock as it continues to perform well and potentially reach new highs in the future.
OCUL Stock Performance Analysis: Revenue Up, Net Income Down – March 13, 2024
On March 13, 2024, OCUL stock had a mixed performance based on the financial data provided by CNN Money. The total revenue for the company was reported at $58.44 million for the past year, with a slight increase of 13.49% compared to the previous year. However, the total revenue remained flat since the last quarter at $14.80 million.
In terms of net income, OCUL reported a significant decrease of 13.65% since the previous year, with a total net income of -$80.74 million. The net income also decreased by a staggering 5562.79% since the last quarter, with a reported net income of -$29.22 million.
Earnings per share (EPS) for OCUL stock were reported at -$1.02 for the past year, marking a decrease of 9.94% compared to the previous year. The EPS also decreased by 36.64% since the last quarter, with a reported EPS of -$0.35.
Overall, the financial performance of OCUL stock on March 13, 2024, showed mixed results. Investors and analysts may want to closely monitor the company’s financial health and performance in the coming quarters to assess its long-term prospects.
