Ocular Therapeutix Inc. (OCUL) Reaches New 52-Week Low at $4.34
Shares of Ocular Therapeutix Inc. (NASDAQ:OCUL) reached a new 52-week low on Tuesday . The stock traded as low as $4.34 and last traded at $4.67, with a volume of 360,747 shares traded. The stock had previously closed at $4.42.
OCUL has been the subject of several recent research reports. BTIG Research reissued a “buy” rating and issued a $18.00 price target on shares of Ocular Therapeutix in a research note on Tuesday. Morgan Stanley reissued an “overweight” rating and issued a $16.00 price target (down from $17.00) on shares of Ocular Therapeutix in a research note on Tuesday, June 7th. Zacks Investment Research downgraded shares of Ocular Therapeutix from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Cowen and Company restated a “buy” rating on shares of Ocular Therapeutix in a research report on Monday, June 6th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $48.00 price objective on shares of Ocular Therapeutix in a research report on Sunday, April 10th. One research 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 target price of $27.45.
The stock’s 50-day moving average price is $5.34 and its 200-day moving average price is $8.31. The stock’s market cap is $112.69 million.
Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by $0.01. The company had revenue of $458 million for the quarter. On average, equities analysts expect that Ocular Therapeutix Inc. will post ($1.86) EPS for the current fiscal year.
In related news, CEO Amarpreet Sawhney bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The stock was bought at an average cost of $6.70 per share, with a total value of $67,000.00. Following the completion of the purchase, the chief executive officer now owns 573,733 shares of the company’s stock, valued at approximately $3,844,011.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, 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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