Ocular Therapeutix Inc. (OCUL) Shares Up 2.1%
Ocular Therapeutix Inc. (NASDAQ:OCUL) shot up 2.1% on Wednesday . The stock traded as high as $7.74 and last traded at $7.61, with a volume of 666,343 shares trading hands. The stock had previously closed at $7.45.
Several research firms have recently weighed in on OCUL. Zacks Investment Research raised Ocular Therapeutix from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a report on Friday, August 12th. Morgan Stanley increased 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. JMP Securities began coverage on Ocular Therapeutix in a report on Thursday, August 11th. They issued an “outperform” rating and a $5.84 price objective for the company. BTIG Research reissued a “buy” rating and issued a $18.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, July 26th. Finally, Cowen and Company reissued a “buy” rating on shares of Ocular Therapeutix in a report on Monday, June 6th. Six equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $19.07.
The company’s market capitalization is $182.19 million. The company has a 50 day moving average of $5.35 and a 200-day moving average of $8.25.
Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.46) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.03. During the same period last year, the business posted ($0.45) earnings per share. The business earned $0.44 million during the quarter, compared to the consensus estimate of $0.55 million. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. On average, equities analysts forecast that Ocular Therapeutix Inc. will post ($1.87) EPS for the current fiscal year.
In other Ocular Therapeutix news, CEO Amarpreet Sawhney acquired 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 acquisition, the chief executive officer now owns 573,733 shares in the company, valued at $3,844,011.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, 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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