Ocular Therapeutix Inc. (NASDAQ:OCUL)’s share price gapped up prior to trading on Tuesday after RBC Capital Markets raised their price target on the stock from $30.00 to $32.00. The stock had previously closed at $7.36, but opened at $7.49. RBC Capital Markets currently has an outperform rating on the stock. Ocular Therapeutix shares last traded at $7.63, with a volume of 653,697 shares.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada upped their price objective on shares of Ocular Therapeutix from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday. 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 report on Friday, August 12th. BTIG Research reiterated a “buy” rating and set a $18.00 price target on shares of Ocular Therapeutix in a report on Saturday, October 15th. Finally, JMP Securities began coverage on shares of Ocular Therapeutix in a report on Thursday, August 11th. They set an “outperform” rating and a $5.84 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $18.56.

Large investors have recently modified their holdings of the company. Credit Suisse AG boosted its stake in shares of Ocular Therapeutix by 58.2% in the third quarter. Credit Suisse AG now owns 27,614 shares of the biopharmaceutical company’s stock valued at $189,000 after buying an additional 10,163 shares in the last quarter. Morgan Stanley boosted its stake in shares of Ocular Therapeutix by 481.4% in the third quarter. Morgan Stanley now owns 573,309 shares of the biopharmaceutical company’s stock valued at $3,938,000 after buying an additional 474,703 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Ocular Therapeutix by 8.5% in the third quarter. Northern Trust Corp now owns 210,345 shares of the biopharmaceutical company’s stock valued at $1,445,000 after buying an additional 16,541 shares in the last quarter. Columbus Circle Investors boosted its stake in shares of Ocular Therapeutix by 76.2% in the third quarter. Columbus Circle Investors now owns 491,204 shares of the biopharmaceutical company’s stock valued at $3,375,000 after buying an additional 212,419 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Ocular Therapeutix by 1.1% in the third quarter. California State Teachers Retirement System now owns 37,939 shares of the biopharmaceutical company’s stock valued at $261,000 after buying an additional 400 shares in the last quarter. Institutional investors own 77.66% of the company’s stock.

The company’s market cap is $196.30 million. The stock has a 50 day moving average of $6.45 and a 200 day moving average of $6.99.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.11. Ocular Therapeutix had a negative net margin of 2,346.47% and a negative return on equity of 56.23%. On average, equities analysts expect that Ocular Therapeutix Inc. will post ($1.77) EPS for the current fiscal year.

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.

5 Day Chart for NASDAQ:OCUL

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