Drug Stock In Focus After FDA Resubmission

Short interest is high on OCUL

Emma Duncan

Managing Editor

Jun 29, 2018 at 10:10 AM

OCUL

Shares of Ocular Therapeutix Inc (NASDAQ:OCUL) are down 2.2% at $7.09 in early trading, after the company announced its New Drug Application (NDA) resubmission for its eye pain drug DEXTENZA, to the Food and Drug Administration (FDA). The company's President and CEO Antony Mattessich said it has made "substantial improvements" in the manufacturing of the pain drug.

Looking at the charts, Ocular Therapeutix stock has been trending higher since November, with pullbacks in recent months contained by the 50-day moving average. Overall, the drug concern has gained nearly 59% year-to-date.

Digging deeper, analyst sentiment has been extremely optimistic toward OCUL. As of yesterday, all six brokerage firms following the stock sport "strong buy" recommendations, while Ocular Therapeutix stock's average 12-month price target stands at $20.33 -- almost triple current levels.

Finally, short interest rose 2.7% during the most recent reporting period, and now represents nearly 20% of the stock's total available float. At OCUL's average price of daily trading, it would take over two weeks for shorts to cover their bearish bets.

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.