Ocular Therapeutix Inc. (OCUL) Shares Up 2.1%
Ocular Therapeutix Inc. (NASDAQ:OCUL) shot up 2.1% during mid-day trading on Wednesday . The company traded as high as $7.74 and last traded at $7.61, with a volume of 666,343 shares traded. The stock had previously closed at $7.45.
Several equities research analysts have recently weighed in on the company. 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 research 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 research report on Thursday, April 28th. JMP Securities assumed coverage on Ocular Therapeutix in a research 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 research report on Tuesday, July 26th. Finally, Cowen and Company reissued a “buy” rating on shares of Ocular Therapeutix in a research 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 an average target price of $19.07.
The firm’s 50 day moving average is $5.47 and its 200-day moving average is $8.24. The firm’s market capitalization is $176.48 million.
Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.03. During the same quarter last year, the firm earned ($0.45) EPS. The business had revenue of $0.44 million for the quarter, compared to the consensus estimate of $0.55 million. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities analysts anticipate that Ocular Therapeutix Inc. will post ($1.87) EPS for the current fiscal year.
In other news, CEO Amarpreet Sawhney bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 9th. The shares were acquired at an average price of $6.70 per share, with a total value of $67,000.00. Following the transaction, the chief executive officer now owns 573,733 shares in the company, valued at $3,844,011.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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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