Ocular Therapeutix, Inc. (NASDAQ:OCUL – Get Free Report)’s share price was down 10.6% during trading on Thursday . The company traded as low as $8.90 and last traded at $8.9050. Approximately 1,188,839 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 4,467,485 shares. The stock had previously closed at $9.96.
Analyst Upgrades and Downgrades
OCUL has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Tuesday, April 21st. Robert W. Baird increased their target price on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Chardan Capital lifted their price objective on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 target price on shares of Ocular Therapeutix in a research report on Wednesday, May 6th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.11.
Read Our Latest Report on OCUL
Ocular Therapeutix Stock Performance
Insider Activity at Ocular Therapeutix
In related news, insider Pravin Dugel sold 21,156 shares of Ocular Therapeutix stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the sale, the insider directly owned 2,597,170 shares in the company, valued at approximately $21,296,794. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,999 shares of company stock worth $237,792 over the last three months. Company insiders own 3.10% of the company’s stock.
Hedge Funds Weigh In On Ocular Therapeutix
Several institutional investors have recently added to or reduced their stakes in OCUL. Steward Partners Investment Advisory LLC boosted its stake in Ocular Therapeutix by 124.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,242 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in Ocular Therapeutix in the fourth quarter valued at approximately $31,000. Hilton Head Capital Partners LLC grew its holdings in Ocular Therapeutix by 30.4% during the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,053 shares during the period. Atlas Capital Advisors Inc. bought a new position in Ocular Therapeutix during the fourth quarter valued at $61,000. Finally, KBC Group NV bought a new stake in shares of Ocular Therapeutix in the fourth quarter valued at $78,000. Institutional investors own 59.21% of the company’s stock.
About Ocular Therapeutix
Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.
The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.
Featured Stories
- Five stocks we like better than Ocular Therapeutix
- Why Abbott Laboratories Stock Is Suddenly Winning Back Wall Street
- Revving Up Returns: Big Banks Race Through the Rate Plateau
- Why Uber’s Biggest Deal Yet Could Unlock Its Next Growth Phase
- Why Microsoft Is Playing a Different AI Game Than Big Tech—and Cash Flow Is the Test
Receive News & Ratings for Ocular Therapeutix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocular Therapeutix and related companies with MarketBeat.com's FREE daily email newsletter.
