Ocular Therapeutix Inc. (OCUL) Sees Unusually-High Trading Volume
Ocular Therapeutix Inc. (NASDAQ:OCUL) shares saw unusually-high trading volume on Friday . Approximately 1,710,348 shares changed hands during mid-day trading, an increase of 8% from the previous session’s volume of 1,585,123 shares.The stock last traded at $6.63 and had previously closed at $6.30.
OCUL has been the topic of a number of analyst reports. Morgan Stanley increased their price target on shares of Ocular Therapeutix from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, April 28th. Zacks Investment Research downgraded shares of Ocular Therapeutix from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Cowen and Company reiterated a “buy” rating on shares of Ocular Therapeutix in a research report on Monday, June 6th. BTIG Research reiterated a “buy” rating and issued a $18.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, July 26th. Finally, JMP Securities initiated coverage on shares of Ocular Therapeutix in a research report on Thursday. They issued an “outperform” rating and a $5.84 price target on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $19.42.
The company’s market cap is $167.91 million. The company has a 50 day moving average of $5.14 and a 200 day moving average of $8.21.
Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.46) EPS for the quarter, topping the Thomson Reuters’ 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 period in the previous year, the firm posted ($0.45) EPS. The firm’s revenue was down 3.9% compared to the same quarter last year. Analysts anticipate that Ocular Therapeutix Inc. will post ($1.87) earnings per share for the current fiscal year.
In other news, CEO Amarpreet Sawhney purchased 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 acquisition, the chief executive officer now owns 573,733 shares in the company, valued at approximately $3,844,011.10. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
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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