Ocular Therapeutix Inc. (OCUL) Stock Price Up 12%
Ocular Therapeutix Inc. (NASDAQ:OCUL)’s share price rose 12% during mid-day trading on Thursday . The stock traded as high as $6.84 and last traded at $6.54, with a volume of 3,034,675 shares trading hands. The stock had previously closed at $5.84.
OCUL has been the topic of several research reports. Morgan Stanley lifted their price objective on shares of Ocular Therapeutix from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, April 28th. Zacks Investment Research lowered shares of Ocular Therapeutix from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Cowen and Company reissued a “buy” rating on shares of Ocular Therapeutix in a report on Monday, June 6th. BTIG Research reissued a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, July 26th. Finally, JMP Securities initiated coverage on shares of Ocular Therapeutix in a report on Thursday. They set an “outperform” rating and a $5.84 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $19.42.
The stock’s market capitalization is $156.03 million. The firm’s 50 day moving average is $5.12 and its 200 day moving average is $8.21.
Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.03. The firm earned $0.44 million during the quarter, compared to analyst estimates of $0.55 million. During the same quarter in the previous year, the firm earned ($0.45) earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Analysts anticipate that Ocular Therapeutix Inc. will post ($1.86) EPS for the current year.
In related news, CEO Amarpreet Sawhney acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, June 9th. The shares were purchased 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 owns 573,733 shares in the company, valued at approximately $3,844,011.10. The purchase was disclosed in a document filed with the SEC, which can be accessed 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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