Ocular Therapeutix Inc. (OCUL) Stock Price Down 1.7%
Ocular Therapeutix Inc. (NASDAQ:OCUL) shares were down 1.7% during trading on Tuesday . The company traded as low as $6.67 and last traded at $6.91, with a volume of 606,071 shares trading hands. The stock had previously closed at $7.03.
A number of research analysts have commented on OCUL shares. JMP Securities started coverage on Ocular Therapeutix in a research report on Thursday, August 11th. They issued an “outperform” rating and a $5.84 price objective on the stock. BTIG Research reiterated a “buy” rating and issued a $18.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, July 26th. Zacks Investment Research upgraded Ocular Therapeutix from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a research report on Friday, August 12th. Morgan Stanley reiterated an “overweight” rating and issued a $16.00 price objective (down from $17.00) on shares of Ocular Therapeutix in a research report on Tuesday, June 7th. Finally, Cowen and Company reiterated a “buy” rating on shares of Ocular Therapeutix in a research report on Monday, June 6th. Six analysts have rated the stock with a buy rating, Ocular Therapeutix has a consensus rating of “Buy” and a consensus price target of $19.07.
The company’s market cap is $170.77 million. The stock has a 50-day moving average of $5.63 and a 200-day moving average of $8.29.
Ocular Therapeutix (NASDAQ:OCUL) last issued 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. The company earned $0.44 million during the quarter, compared to the consensus estimate of $0.55 million. The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.45) earnings per share. Equities research analysts anticipate that Ocular Therapeutix Inc. will post ($1.87) earnings per share for the current fiscal year.
In other news, CEO Amarpreet Sawhney acquired 10,000 shares of the stock in a transaction on Thursday, June 9th. The stock was acquired at an average cost of $6.70 per share, for a total transaction of $67,000.00. Following the completion of the transaction, the chief executive officer now directly owns 573,733 shares in the company, valued at $3,844,011.10. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
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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