Rhumbline Advisers Raises Stock Holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Rhumbline Advisers lifted its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 39.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 211,301 shares of the biopharmaceutical company’s stock after acquiring an additional 59,345 shares during the period. Rhumbline Advisers owned 0.14% of Ocular Therapeutix worth $1,445,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in Ocular Therapeutix by 41.4% during the 1st quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock worth $65,840,000 after purchasing an additional 2,117,029 shares during the period. Avoro Capital Advisors LLC acquired a new stake in shares of Ocular Therapeutix during the first quarter worth about $65,055,000. Opaleye Management Inc. boosted its stake in shares of Ocular Therapeutix by 9.6% during the first quarter. Opaleye Management Inc. now owns 6,653,138 shares of the biopharmaceutical company’s stock worth $60,544,000 after buying an additional 583,138 shares during the period. Franklin Resources Inc. purchased a new position in shares of Ocular Therapeutix during the fourth quarter worth about $20,071,000. Finally, Deltec Asset Management LLC increased its position in Ocular Therapeutix by 9.6% in the 2nd quarter. Deltec Asset Management LLC now owns 2,590,265 shares of the biopharmaceutical company’s stock valued at $17,717,000 after acquiring an additional 226,181 shares during the period. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research note on Friday, June 21st. TD Cowen lowered shares of Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 21st. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Ocular Therapeutix in a research report on Thursday, August 1st. Finally, Robert W. Baird lowered their target price on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.67.

Ocular Therapeutix Price Performance

Ocular Therapeutix stock opened at $8.98 on Friday. The company has a market cap 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. The business has a fifty day moving average of $8.43 and a two-hundred day moving average of $7.44. The company has a debt-to-equity ratio of 0.18, a quick ratio of 16.55 and a current ratio of 16.64.

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

Ocular Therapeutix 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.