Ocular Therapeutix Inc. (OCUL) Stock Price Down 7.8%
Ocular Therapeutix Inc. (NASDAQ:OCUL) was down 7.8% during mid-day trading on Wednesday . The stock traded as low as $6.20 and last traded at $6.24, with a volume of 670,346 shares trading hands. The stock had previously closed at $6.77.
Several equities research analysts have issued reports on OCUL shares. Zacks Investment Research upgraded shares of Ocular Therapeutix from a “hold” rating to a “buy” rating and set a $7.50 price target on the stock in a research note on Friday, August 12th. BTIG Research reiterated a “buy” rating and issued a $18.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, July 26th. Cowen and Company reiterated a “buy” rating on shares of Ocular Therapeutix in a research note on Monday, June 6th. Morgan Stanley reiterated a “buy” rating on shares of Ocular Therapeutix in a research note on Thursday, May 12th. Finally, JMP Securities started coverage on shares of Ocular Therapeutix in a research note on Thursday, August 11th. They issued an “outperform” rating and a $5.84 price target on the stock. Six research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target of $19.07.
The firm has a 50-day moving average of $5.77 and a 200-day moving average of $8.32. The stock’s market cap is $158.61 million.
Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.03. The firm had revenue of $0.44 million for the quarter, compared to analyst estimates of $0.55 million. During the same quarter last year, the company earned ($0.45) earnings per share. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. Equities research analysts predict that Ocular Therapeutix Inc. will post ($1.87) earnings per share 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 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 directly owns 573,733 shares in the company, valued at approximately $3,844,011.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.