Ocular Therapeutix Inc. (OCUL) Shares Up 2.4%
Ocular Therapeutix Inc. (NASDAQ:OCUL)’s share price shot up 2.4% on Thursday . The company traded as high as $6.71 and last traded at $6.53, with a volume of 339,336 shares. The stock had previously closed at $6.38.
A number of research firms recently weighed in on OCUL. JMP Securities began coverage on shares of Ocular Therapeutix in a research report on Thursday, August 11th. They set an “outperform” rating and a $5.84 price objective for the company. BTIG Research reaffirmed a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, July 26th. Zacks Investment Research cut shares of Ocular Therapeutix from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Morgan Stanley increased their price objective on shares of Ocular Therapeutix from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, April 28th. Finally, Cowen and Company reaffirmed 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 stock currently has an average rating of “Buy” and an average target price of $19.07.
The company’s 50-day moving average is $5.67 and its 200 day moving average is $8.28. The firm’s market capitalization is $158.11 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. The business earned $0.44 million during the quarter, compared to analysts’ expectations of $0.55 million. During the same period last year, the company earned ($0.45) EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities analysts forecast that Ocular Therapeutix Inc. will post ($1.87) earnings per share for the current fiscal year.
In other Ocular Therapeutix news, CEO Amarpreet Sawhney purchased 10,000 shares of Ocular Therapeutix stock in a transaction on Thursday, June 9th. The shares were bought at an average price of $6.70 per share, with a total value of $67,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 573,733 shares of the company’s stock, valued at $3,844,011.10. The transaction was disclosed in a document filed with the SEC, which is available 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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