Ocular Therapeutix Inc. (OCUL) Stock Price Down 4.5%
Ocular Therapeutix Inc. (NASDAQ:OCUL) shares fell 4.5% during mid-day trading on Monday . The company traded as low as $5.61 and last traded at $5.67, with a volume of 443,437 shares. The stock had previously closed at $5.94.
A number of research firms have issued reports on OCUL. Cowen and Company reaffirmed a “buy” rating on shares of Ocular Therapeutix in a report on Monday, June 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $16.00 price target (down previously from $17.00) on shares of Ocular Therapeutix in a report on Tuesday, June 7th. Zacks Investment Research cut shares of Ocular Therapeutix from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $48.00 target price on shares of Ocular Therapeutix in a report on Sunday, April 10th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Ocular Therapeutix presently has an average rating of “Buy” and an average target price of $31.85.
The stock has a 50-day moving average of $7.42 and a 200 day moving average of $8.69. The firm’s market capitalization is $142.65 million.
Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.43) by $0.01. The business had revenue of $458 million for the quarter. Equities analysts forecast that Ocular Therapeutix Inc. will post ($1.86) EPS for the current year.
In other news, CEO Amarpreet Sawhney purchased 10,000 shares of the stock in a transaction on Thursday, June 9th. The stock was bought at an average price of $6.70 per share, for a total transaction of $67,000.00. Following the acquisition, the chief executive officer now directly owns 573,733 shares of the company’s stock, valued at approximately $3,844,011.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Ocular Therapeutix, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies for diseases and conditions of the eye using its hydrogel platform technology. The Company’s bioresorbable hydrogel based product candidates are designed to provide sustained delivery of therapeutic agents to the eye.
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