Morgan Stanley Maintains Ocular Therapeutix Inc to Overweight with Price Target $16.00

Brokerage firm Morgan Stanley Maintains its rating on Ocular Therapeutix Inc(NASDAQ:OCUL). In a research note issued to the investors, the brokerage major Lowers the price-target to $16.00 per share. The shares have been rated Overweight. The rating by Morgan Stanley was issued on Jun 7, 2016.

In a different note, On Apr 28, 2016, Morgan Stanley said it Maintains its rating on Ocular Therapeutix Inc. In the research note, the firm Raises the price-target to $15.00 per share. The shares have been rated ‘Overweight’ by the firm.

Ocular Therapeutix Inc (OCUL) shares turned negative on Fridays trading session with the shares closing down -0.24 points or -3.68% at a volume of 5,99,983. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $6.55. The peak price level was also seen at $6.55 while the days lowest was $6.26. Finally the shares closed at $6.29. The 52-week high of the shares is $29.22 while the 52-week low is $5.07. According to the latest information available, the market cap of the company is $156 M.

Ocular Therapeutix Inc(OCUL) last announced its earnings results on May 10, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $458.00K. Analysts had an estimated revenue of $450.00K. Earnings per share were $-0.44. Analysts had estimated an EPS of $-0.43.

Several Insider Transactions has been reported to the SEC. On Nov 18, 2015, Amarpreet Sawhney (CEO) purchased 10,000 shares at $8.25 per share price.Also, On Sep 17, 2015, James Fortune (Chief Operating Officer) sold 9,470 shares at $17.16 per share price.On Jun 15, 2015, Charles M Warden (director 10% owner) sold 320,000 shares at $22.00 per share price, according to the Form-4 filing with the securities and exchange commission.

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. Its hydrogel is a bioresorbable formulation of polyethylene glycol (PEG) which when constituted with water takes on a gelatinous consistency. The Company’s product pipeline includes marketed candidate ReSure Sealant and products under development such as OTX-DP OTX-TP OTX-MP and anti-VEGF hydrogel depot. The Company’s lead product candidates are OTX-DP and OTX-TP.

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