Ocular Therapeutix Inc. (OCUL) Trading Up 12%
Ocular Therapeutix Inc. (NASDAQ:OCUL)’s share price was up 12% during trading on Thursday . The stock traded as high as $6.84 and last traded at $6.54, with a volume of 3,034,675 shares changing hands. The stock had previously closed at $5.84.
Several equities analysts have commented on OCUL shares. Morgan Stanley raised their target price on shares of Ocular Therapeutix from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, April 28th. Zacks Investment Research lowered shares of Ocular Therapeutix from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Cowen and Company reissued a “buy” rating on shares of Ocular Therapeutix in a report on Monday, June 6th. BTIG Research reissued a “buy” rating and issued a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday, July 26th. Finally, JMP Securities started coverage on shares of Ocular Therapeutix in a report on Thursday. They issued an “outperform” rating and a $5.84 target price on the stock. Six research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average target price of $19.07.
The company’s market cap is $167.91 million. The stock’s 50 day moving average is $5.18 and its 200 day moving average is $8.20.
Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.46) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.03. The business had revenue of $0.44 million for the quarter, compared to analysts’ expectations of $0.55 million. Ocular Therapeutix’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the company earned ($0.45) earnings per share. On average, equities research analysts anticipate that Ocular Therapeutix Inc. will post ($1.87) earnings per share for the current fiscal year.
In other Ocular Therapeutix news, CEO Amarpreet Sawhney acquired 10,000 shares of the company’s stock in a transaction on Thursday, June 9th. The shares were acquired at an average cost of $6.70 per share, with a total value of $67,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 573,733 shares in the company, valued at $3,844,011.10. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
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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