Ocular Therapeutix, Inc. $OCUL Shares Purchased by Avoro Capital Advisors LLC

Avoro Capital Advisors LLC grew its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 38.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,250,000 shares of the biopharmaceutical company’s stock after acquiring an additional 2,850,000 shares during the quarter. Ocular Therapeutix comprises approximately 1.5% of Avoro Capital Advisors LLC’s portfolio, making the stock its 19th biggest position. Avoro Capital Advisors LLC owned approximately 4.81% of Ocular Therapeutix worth $119,822,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in Ocular Therapeutix by 9.2% in the third quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company’s stock valued at $107,118,000 after purchasing an additional 771,065 shares during the period. Marshall Wace LLP acquired a new position in Ocular Therapeutix in the 3rd quarter valued at about $18,721,000. Invesco Ltd. increased its position in Ocular Therapeutix by 91.2% in the 2nd quarter. Invesco Ltd. now owns 1,538,846 shares of the biopharmaceutical company’s stock valued at $14,280,000 after acquiring an additional 734,017 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Ocular Therapeutix by 1.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,076,382 shares of the biopharmaceutical company’s stock valued at $12,583,000 after purchasing an additional 10,413 shares during the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of Ocular Therapeutix by 142.8% in the second quarter. Raymond James Financial Inc. now owns 884,381 shares of the biopharmaceutical company’s stock valued at $8,207,000 after purchasing an additional 520,138 shares during the period. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OCUL. Jefferies Financial Group reaffirmed a “buy” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Royal Bank Of Canada restated an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a research note on Thursday, February 5th. HC Wainwright boosted their price target on shares of Ocular Therapeutix from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Chardan Capital reiterated a “buy” rating and set a $21.00 target price on shares of Ocular Therapeutix in a research report on Wednesday, February 18th. Finally, Wall Street Zen cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.78.

Ocular Therapeutix Stock Down 1.2%

Shares of OCUL opened at $8.76 on Friday. The firm has a market cap of $1.91 billion, a PE ratio of -6.08 and a beta of 0.91. The company has a quick ratio of 15.32, a current ratio of 15.39 and a debt-to-equity ratio of 0.11. The company’s fifty day moving average is $9.83 and its two-hundred day moving average is $11.41. Ocular Therapeutix, Inc. has a fifty-two week low of $5.80 and a fifty-two week high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Thursday, February 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04. The firm had revenue of $13.25 million during the quarter, compared to the consensus estimate of $16.13 million. Ocular Therapeutix had a negative return on equity of 70.68% and a negative net margin of 511.90%.The firm’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.29) earnings per share. Analysts forecast that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Nadia Waheed sold 3,510 shares of Ocular Therapeutix stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $7.74, for a total transaction of $27,167.40. Following the sale, the insider directly owned 314,907 shares of the company’s stock, valued at approximately $2,437,380.18. The trade was a 1.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey S. Heier sold 3,057 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $8.28, for a total value of $25,311.96. Following the completion of the transaction, the insider owned 323,368 shares in the company, valued at approximately $2,677,487.04. This trade represents a 0.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 197,221 shares of company stock valued at $1,754,805. 2.30% of the stock is owned by corporate insiders.

Ocular Therapeutix Profile

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.