Ocular Therapeutix Inc. (OCUL) Sees Unusually-High Trading Volume
Shares of Ocular Therapeutix Inc. (NASDAQ:OCUL) saw strong trading volume on Friday . 6,534,158 shares changed hands during 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.
Several equities analysts have recently commented on the stock. Morgan Stanley increased their price target 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. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $48.00 price target on shares of Ocular Therapeutix in a research report on Sunday, April 10th. Zacks Investment Research cut shares of Ocular Therapeutix from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Cowen and Company reaffirmed a “buy” rating on shares of Ocular Therapeutix in a research report on Monday, June 6th. Finally, BTIG Research reaffirmed a “buy” rating and set a $18.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, July 26th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Ocular Therapeutix currently has an average rating of “Buy” and a consensus target price of $22.81.
The stock has a 50-day moving average price of $5.06 and a 200 day moving average price of $8.21. The firm’s market cap is $160.24 million.
Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.43) by $0.01. The firm had revenue of $458 million for the quarter. Equities analysts expect that Ocular Therapeutix Inc. will post ($1.86) EPS for the current fiscal year.
In related news, CEO Amarpreet Sawhney bought 10,000 shares of Ocular Therapeutix stock in a transaction dated Thursday, June 9th. The shares were bought 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 owns 573,733 shares of the company’s stock, valued at $3,844,011.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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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