Ocular Therapeutix Inc (NASDAQ:OCUL)’s stock price fell 5.9% during mid-day trading on Tuesday . The stock traded as low as $3.62 and last traded at $3.82, 990,851 shares traded hands during mid-day trading. An increase of 53% from the average session volume of 649,721 shares. The stock had previously closed at $4.06.
Several equities analysts have recently commented on the company. ValuEngine raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Piper Jaffray Companies set a $8.00 price target on Ocular Therapeutix and gave the company a “buy” rating in a research note on Friday, July 26th. Zacks Investment Research lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. JMP Securities set a $9.00 price target on Ocular Therapeutix and gave the company a “buy” rating in a research note on Friday, June 21st. Finally, HC Wainwright set a $9.00 price target on Ocular Therapeutix and gave the company a “buy” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $9.18.
The company has a 50 day moving average price of $4.35 and a 200 day moving average price of $4.12. The firm has a market cap of $180.05 million, a price-to-earnings ratio of -2.43 and a beta of 2.18. The company has a debt-to-equity ratio of 7.06, a quick ratio of 6.39 and a current ratio of 6.46.
Several institutional investors have recently made changes to their positions in OCUL. Bank of New York Mellon Corp lifted its stake in Ocular Therapeutix by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 105,467 shares of the biopharmaceutical company’s stock worth $464,000 after acquiring an additional 2,990 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new position in Ocular Therapeutix during the 1st quarter worth about $30,000. Creative Planning acquired a new position in Ocular Therapeutix during the 2nd quarter worth about $52,000. Northern Trust Corp lifted its stake in Ocular Therapeutix by 3.3% during the 2nd quarter. Northern Trust Corp now owns 419,982 shares of the biopharmaceutical company’s stock worth $1,848,000 after acquiring an additional 13,249 shares in the last quarter. Finally, Highland Capital Management LLC acquired a new position in Ocular Therapeutix during the 2nd quarter worth about $62,000. 48.11% of the stock is currently owned by institutional investors and hedge funds.
Ocular Therapeutix Company Profile (NASDAQ:OCUL)
Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel platform technology. The company markets ReSure Sealant, a hydrogel ophthalmic wound sealant to seal corneal incisions following cataract surgery.
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