Arizona State Retirement System Buys New Stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Arizona State Retirement System purchased a new position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 28,151 shares of the biopharmaceutical company’s stock, valued at approximately $193,000.

A number of other large investors have also made changes to their positions in OCUL. Vanguard Group Inc. raised its stake 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 buying an additional 2,117,029 shares during the last quarter. Avoro Capital Advisors LLC purchased a new position in shares of Ocular Therapeutix in the 1st quarter valued at approximately $65,055,000. Opaleye Management Inc. raised its position in shares of Ocular Therapeutix by 9.6% in the 1st quarter. Opaleye Management Inc. now owns 6,653,138 shares of the biopharmaceutical company’s stock valued at $60,544,000 after purchasing an additional 583,138 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Ocular Therapeutix in the 4th quarter worth approximately $20,071,000. Finally, Deltec Asset Management LLC grew its position in Ocular Therapeutix by 9.6% during the 2nd quarter. Deltec Asset Management LLC now owns 2,590,265 shares of the biopharmaceutical company’s stock worth $17,717,000 after purchasing an additional 226,181 shares during the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.

Ocular Therapeutix Stock Performance

OCUL opened at $9.05 on Thursday. The firm has a fifty day moving average price of $8.39 and a 200 day moving average price of $7.47. Ocular Therapeutix, Inc. has a 1 year low of $2.00 and a 1 year high of $11.31. The stock has a market cap of $1.40 billion, a P/E ratio of -6.70 and a beta of 1.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 16.64 and a quick ratio of 16.55.

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

Wall Street Analysts Forecast Growth

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