Shares of Ocular Therapeutix Inc. (NASDAQ:OCUL) dropped 8.3% on Tuesday . The stock traded as low as $7.31 and last traded at $7.53, with a volume of 2,003,851 shares. The stock had previously closed at $8.21.

OCUL has been the topic of several analyst reports. Morgan Stanley reissued a “buy” rating on shares of Ocular Therapeutix in a research note on Thursday, May 12th. Zacks Investment Research cut shares of Ocular Therapeutix from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Cowen and Company reissued a “buy” rating on shares of Ocular Therapeutix in a research note on Monday, June 6th. BTIG Research reissued a “buy” rating and issued a $18.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, July 26th. Finally, JMP Securities started coverage on shares of Ocular Therapeutix in a research note on Thursday, August 11th. They issued an “outperform” rating and a $5.84 price objective on the stock. Six analysts have rated the stock with a buy rating, Ocular Therapeutix currently has a consensus rating of “Buy” and an average price target of $19.07.

The stock’s market cap is $184.92 million. The stock’s 50-day moving average is $5.27 and its 200-day moving average is $8.24.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.03. During the same quarter in the prior year, the company earned ($0.45) earnings per share. The firm earned $0.44 million during the quarter, compared to analysts’ expectations of $0.55 million. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Equities research analysts expect that Ocular Therapeutix Inc. will post ($1.87) EPS for the current year.

In related news, CEO Amarpreet Sawhney acquired 10,000 shares of the stock in a transaction dated Thursday, June 9th. The shares were purchased at an average price of $6.70 per share, for a total transaction of $67,000.00. Following the transaction, the chief executive officer now owns 573,733 shares in the company, valued at approximately $3,844,011.10. The acquisition was disclosed in a filing with the SEC, which is available at 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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