Ocular Therapeutix Inc. (OCUL) Sees Strong Trading Volume
Shares of Ocular Therapeutix Inc. (NASDAQ:OCUL) saw an uptick in trading volume on Friday . 6,534,158 shares were traded during mid-day trading, an increase of 451% from the previous session’s volume of 1,185,894 shares.The stock last traded at $6.81 and had previously closed at $5.63.
A number of research firms have weighed in on OCUL. Morgan Stanley increased their target price on Ocular Therapeutix from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, April 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Ocular Therapeutix in a research note on Sunday, April 10th. Zacks Investment Research downgraded Ocular Therapeutix from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Cowen and Company reaffirmed a “buy” rating on shares of Ocular Therapeutix in a research note on Monday, June 6th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, July 26th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Ocular Therapeutix has a consensus rating of “Buy” and a consensus target price of $27.45.
The firm’s market cap is $160.24 million. The stock’s 50 day moving average is $5.06 and its 200 day moving average is $8.21.
Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by $0.01. The company earned $458 million during the quarter. On average, analysts forecast that Ocular Therapeutix Inc. will post ($1.86) earnings per share for the current fiscal year.
In other Ocular Therapeutix 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 purchased at an average cost of $6.70 per share, for a total transaction of $67,000.00. Following the purchase, the chief executive officer now directly owns 573,733 shares in the company, valued at $3,844,011.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, 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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