Ocular Therapeutix Inc. (OCUL) Trading 2.4% Higher
Ocular Therapeutix Inc. (NASDAQ:OCUL) shares traded up 2.4% during trading on Thursday . The company traded as high as $6.71 and last traded at $6.53, with a volume of 339,336 shares trading hands. The stock had previously closed at $6.38.
A number of research analysts have recently commented on the stock. Morgan Stanley reaffirmed a “buy” rating on shares of Ocular Therapeutix in a research report on Thursday, May 12th. Cowen and Company reaffirmed a “buy” rating on shares of Ocular Therapeutix in a research report on Monday, June 6th. Zacks Investment Research lowered shares of Ocular Therapeutix from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. 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. Finally, JMP Securities assumed 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. Six investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $19.07.
The firm’s market capitalization is $158.11 million. The stock has a 50-day moving average of $5.73 and a 200-day moving average of $8.27.
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 business earned $0.44 million during the quarter, compared to analyst estimates of $0.55 million. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.45) earnings per share. On average, equities research analysts expect that Ocular Therapeutix Inc. will post ($1.87) EPS for the current fiscal year.
In other news, CEO Amarpreet Sawhney acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, June 9th. The stock was bought 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 directly owns 573,733 shares in the company, valued at approximately $3,844,011.10. The purchase was disclosed in a filing with the SEC, which is accessible 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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