Ocular Therapeutix Inc. (OCUL) Stock Price Down 4.5%
Shares of Ocular Therapeutix Inc. (NASDAQ:OCUL) fell 4.5% during trading on Monday . The company traded as low as $5.61 and last traded at $5.67, with a volume of 443,437 shares changing hands. The stock had previously closed at $5.94.
Several research firms recently weighed in on OCUL. Cowen and Company reiterated a “buy” rating on shares of Ocular Therapeutix in a research report on Monday, June 6th. Morgan Stanley reiterated an “overweight” rating and set a $16.00 target price (down from $17.00) on shares of Ocular Therapeutix in a research report on Tuesday, June 7th. Zacks Investment Research downgraded Ocular Therapeutix from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $48.00 target price on shares of Ocular Therapeutix in a research report on Sunday, April 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $31.85.
The company has a 50-day moving average price of $7.11 and a 200-day moving average price of $8.62. The stock’s market cap is $126.31 million.
Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.43) by $0.01. The company earned $458 million during the quarter. Analysts anticipate that Ocular Therapeutix Inc. will post ($1.86) earnings per share for the current year.
In related news, CEO Amarpreet Sawhney bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 9th. The shares were acquired at an average cost 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 transaction was disclosed in a filing with the SEC, which is accessible through 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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