Ocular Therapeutix Inc. (OCUL) Trading Down 5.4%
Ocular Therapeutix Inc. (NASDAQ:OCUL) shares fell 5.4% during trading on Tuesday . The company traded as low as $4.75 and last traded at $4.75, with a volume of 149,676 shares changing hands. The stock had previously closed at $5.02.
A number of research firms recently commented on OCUL. Zacks Investment Research cut Ocular Therapeutix from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Morgan Stanley upped their price objective on Ocular Therapeutix from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, April 28th. Cowen and Company reiterated a “buy” rating on shares of Ocular Therapeutix in a report on Monday, June 6th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $48.00 target price on shares of Ocular Therapeutix in a research report on Sunday, April 10th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Ocular Therapeutix has a consensus rating of “Buy” and an average price target of $31.85.
The stock’s market cap is $133.24 million. The stock’s 50 day moving average price is $6.07 and its 200 day moving average price is $8.43.
Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Tuesday, May 10th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by $0.01. The firm had revenue of $458 million for the quarter. On average, equities research analysts expect that Ocular Therapeutix Inc. will post ($1.86) EPS for the current year.
In other Ocular Therapeutix news, CEO Amarpreet Sawhney acquired 10,000 shares of the company’s stock in a transaction dated Thursday, June 9th. The stock was acquired at an average cost of $6.70 per share, with a total value of $67,000.00. Following the purchase, the chief executive officer now directly owns 573,733 shares in the company, valued at approximately $3,844,011.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.
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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