Ocular Therapeutix Inc. (OCUL) Trading Down 1.7%
Ocular Therapeutix Inc. (NASDAQ:OCUL) dropped 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 traded. The stock had previously closed at $7.03.
A number of equities research analysts have issued reports on the company. Morgan Stanley restated a “buy” rating on shares of Ocular Therapeutix in a research report on Thursday, May 12th. 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. Cowen and Company restated a “buy” rating on shares of Ocular Therapeutix in a research report on Monday, June 6th. BTIG Research restated a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, July 26th. Finally, JMP Securities assumed coverage on Ocular Therapeutix in a research report on Thursday, August 11th. They set an “outperform” rating and a $5.84 price objective on the stock. Six investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $19.07.
The firm has a 50 day moving average of $5.67 and a 200 day moving average of $8.28. The firm’s market cap is $158.36 million.
Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.46) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.03. The business had revenue of $0.44 million for the quarter, compared to analyst estimates of $0.55 million. During the same quarter last year, the business earned ($0.45) earnings per share. Ocular Therapeutix’s revenue was down 3.9% on a year-over-year basis. Analysts anticipate that Ocular Therapeutix Inc. will post ($1.87) EPS for the current year.
In other Ocular Therapeutix news, CEO Amarpreet Sawhney bought 10,000 shares of the company’s stock in a transaction dated Thursday, June 9th. The shares were purchased at an average cost of $6.70 per share, for a total transaction of $67,000.00. Following the transaction, the chief executive officer now directly owns 573,733 shares of the company’s stock, valued at $3,844,011.10. The purchase was disclosed in a filing with the SEC, which is available at 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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