Ocular Therapeutix Inc. (OCUL) Trading 32.1% Higher
Ocular Therapeutix Inc. (NASDAQ:OCUL)’s share price traded up 32.1% during trading on Thursday . The company traded as high as $5.73 and last traded at $5.55, with a volume of 4,716,489 shares traded. The stock had previously closed at $4.20.
A number of equities analysts have recently commented on the company. Morgan Stanley raised their price objective on Ocular Therapeutix from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, April 28th. Royal Bank Of Canada reiterated an “outperform” rating and set a $48.00 target price on shares of Ocular Therapeutix in a report on Sunday, April 10th. Zacks Investment Research downgraded Ocular Therapeutix from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Cowen and Company reiterated a “buy” rating on shares of Ocular Therapeutix in a report on Monday, June 6th. Finally, BTIG Research reiterated a “buy” rating and set a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday, July 26th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $27.45.
The stock has a 50 day moving average of $5.04 and a 200-day moving average of $8.24. The firm’s market cap is $139.43 million.
Ocular Therapeutix (NASDAQ:OCUL) last issued 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 firm earned $458 million during the quarter. Analysts anticipate that Ocular Therapeutix Inc. will post ($1.86) earnings per share for the current fiscal year.
In other Ocular Therapeutix news, CEO Amarpreet Sawhney purchased 10,000 shares of the stock in a transaction dated Thursday, June 9th. The shares were acquired at an average price of $6.70 per share, for a total transaction of $67,000.00. Following the completion of the acquisition, 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 document filed with the Securities & Exchange Commission, which can be accessed 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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