Ocular Therapeutix Inc. (OCUL) Shares Up 5.1%
Shares of Ocular Therapeutix Inc. (NASDAQ:OCUL) shot up 5.1% during trading on Tuesday . The company traded as high as $7.09 and last traded at $7.04, with a volume of 454,161 shares changing hands. The stock had previously closed at $6.70.
A number of brokerages have recently commented on OCUL. Morgan Stanley restated an “overweight” rating and issued a $16.00 price target (down from $17.00) on shares of Ocular Therapeutix in a report on Tuesday, June 7th. Cowen and Company restated a “buy” rating on shares of Ocular Therapeutix in a report on Monday, June 6th. Zacks Investment Research upgraded Ocular Therapeutix from a “hold” rating to a “buy” rating and set a $7.50 price target on the stock in a report on Friday, August 12th. JMP Securities began coverage on Ocular Therapeutix in a report on Thursday, August 11th. They issued an “outperform” rating and a $5.84 price target on the stock. Finally, BTIG Research restated a “buy” rating and issued a $18.00 price target on shares of Ocular Therapeutix in a report on Tuesday, July 26th. Six analysts have rated the stock with a buy rating, Ocular Therapeutix has an average rating of “Buy” and an average price target of $19.07.
The stock has a 50 day moving average of $6.48 and a 200-day moving average of $8.19. The company’s market cap is $176.73 million.
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Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.03. The business earned $0.44 million during the quarter, compared to analyst estimates of $0.55 million. Ocular Therapeutix had a negative return on equity of 52.44% and a negative net margin of 2,519.61%. 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) EPS. Equities research analysts expect that Ocular Therapeutix Inc. will post ($1.87) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC raised its position in shares of Ocular Therapeutix by 3.1% in the second quarter. ProShare Advisors LLC now owns 20,623 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 614 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of Ocular Therapeutix during the second quarter valued at about $111,000. Teachers Advisors Inc. raised its position in shares of Ocular Therapeutix by 17.9% in the second quarter. Teachers Advisors Inc. now owns 25,268 shares of the biopharmaceutical company’s stock valued at $125,000 after buying an additional 3,836 shares in the last quarter. BlackRock Group LTD raised its position in shares of Ocular Therapeutix by 980.8% in the first quarter. BlackRock Group LTD now owns 13,142 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 11,926 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Ocular Therapeutix by 127.5% in the second quarter. Alliancebernstein L.P. now owns 27,300 shares of the biopharmaceutical company’s stock valued at $135,000 after buying an additional 15,300 shares in the last quarter. 78.45% of the stock is owned by institutional investors and hedge funds.
Ocular Therapeutix Company Profile
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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