Ocular Therapeutix Inc. (OCUL) Stock Price Up 2.7%
Ocular Therapeutix Inc. (NASDAQ:OCUL) shares shot up 2.7% on Friday . The stock traded as high as $5.03 and last traded at $5.02, with a volume of 225,849 shares traded. The stock had previously closed at $4.89.
Several brokerages have recently weighed in on OCUL. Cowen and Company reiterated a “buy” rating on shares of Ocular Therapeutix in a research note on Monday, June 6th. Morgan Stanley reiterated an “overweight” rating and set a $16.00 price target (down previously from $17.00) on shares of Ocular Therapeutix in a research note on Tuesday, June 7th. Zacks Investment Research cut shares of Ocular Therapeutix from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $48.00 price target on shares of Ocular Therapeutix in a research note on Sunday, April 10th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $31.85.
The stock’s market cap is $124.33 million. The firm’s 50-day moving average price is $6.50 and its 200-day moving average price is $8.53.
Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by $0.01. The business had revenue of $458 million for the quarter. On average, equities analysts expect that Ocular Therapeutix Inc. will post ($1.86) earnings per share for the current year.
In related news, CEO Amarpreet Sawhney purchased 10,000 shares of the company’s stock in a transaction on Thursday, June 9th. The stock was acquired at an average cost of $6.70 per share, for a total transaction of $67,000.00. Following the completion of the transaction, the chief executive officer now directly owns 573,733 shares in the company, valued at $3,844,011.10. The acquisition was disclosed in a document filed 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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