Ocular Therapeutix Inc. (OCUL) Shares Down 8.3%
Ocular Therapeutix Inc. (NASDAQ:OCUL)’s share price fell 8.3% during trading on Tuesday . The company traded as low as $7.31 and last traded at $7.53, with a volume of 2,003,851 shares trading hands. The stock had previously closed at $8.21.
A number of research firms have recently commented on OCUL. Morgan Stanley lifted their price target on shares of Ocular Therapeutix from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, April 28th. Zacks Investment Research lowered shares of Ocular Therapeutix from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Cowen and Company reissued a “buy” rating on shares of Ocular Therapeutix in a research report on Monday, June 6th. JMP Securities began coverage on shares of Ocular Therapeutix in a research report on Thursday, August 11th. They issued an “outperform” rating and a $5.84 price target on the stock. Finally, BTIG Research reissued a “buy” rating and issued a $18.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, July 26th. Six equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of $19.07.
The stock has a 50-day moving average price of $5.42 and a 200 day moving average price of $8.25. The company’s market cap is $182.19 million.
Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.03. During the same period in the prior year, the business earned ($0.45) EPS. The business had revenue of $0.44 million for the quarter, compared to analyst estimates of $0.55 million. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities research analysts expect that Ocular Therapeutix Inc. will post ($1.87) EPS for the current fiscal year.
In other Ocular Therapeutix news, CEO Amarpreet Sawhney purchased 10,000 shares of the business’s stock in a transaction on Thursday, June 9th. The stock was acquired at an average price of $6.70 per share, with a total value of $67,000.00. Following the acquisition, the chief executive officer now directly owns 573,733 shares of the company’s stock, valued at approximately $3,844,011.10. The transaction was disclosed in a filing with the SEC, 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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