Avoro Capital Advisors LLC Has $55.13 Million Stock Holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Avoro Capital Advisors LLC grew its holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 12.7% in the second quarter, HoldingsChannel reports. The fund owned 8,060,000 shares of the biopharmaceutical company’s stock after buying an additional 911,064 shares during the period. Ocular Therapeutix accounts for 0.7% of Avoro Capital Advisors LLC’s portfolio, making the stock its 26th largest position. Avoro Capital Advisors LLC owned about 0.05% of Ocular Therapeutix worth $55,130,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of OCUL. Franklin Resources Inc. acquired a new stake in shares of Ocular Therapeutix in the 4th quarter valued at $20,071,000. Vanguard Group Inc. grew its position in Ocular Therapeutix by 41.4% in the first quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock valued at $65,840,000 after acquiring an additional 2,117,029 shares during the last quarter. Rosalind Advisors Inc. bought a new position in shares of Ocular Therapeutix in the second quarter worth about $5,130,000. Great Point Partners LLC bought a new stake in shares of Ocular Therapeutix during the 4th quarter valued at approximately $3,122,000. Finally, Cetera Advisors LLC boosted its position in Ocular Therapeutix by 1,455.0% in the first quarter. Cetera Advisors LLC now owns 723,490 shares of the biopharmaceutical company’s stock valued at $6,584,000 after buying an additional 676,963 shares in the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

Ocular Therapeutix Trading Down 0.7 %

NASDAQ OCUL opened at $8.98 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 16.64 and a quick ratio of 16.55. The business has a 50 day simple moving average of $8.43 and a 200 day simple moving average of $7.42. The stock has a market capitalization of $1.39 billion, a P/E ratio of -6.65 and a beta of 1.28. Ocular Therapeutix, Inc. has a one year low of $2.00 and a one year high of $11.31.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The business had revenue of $16.40 million during the quarter, compared to the consensus estimate of $15.85 million. Ocular Therapeutix had a negative net margin of 226.46% and a negative return on equity of 52.75%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.27) earnings per share. Research analysts expect that Ocular Therapeutix, Inc. will post -1.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

OCUL has been the topic of several research reports. TD Cowen cut Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a report on Friday, June 21st. HC Wainwright reissued a “buy” rating and set a $14.00 target price on shares of Ocular Therapeutix in a report on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research note on Friday, June 21st. Finally, Robert W. Baird reduced their price objective on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $15.67.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.