Birchview Capital’s Top Healthcare Stock Picks

#4 BIOLASE Inc (NASDAQ:BIOL)

– Shares Owned by Birchview Capital (as of March 31): 1.28 million

– Value of Holding (as of March 31): $1.68 million

Though Birchview Capital didn’t make any changes to its stake in BIOLASE Inc (NASDAQ:BIOL) during the first quarter, owing to a 56% rise in its stock during that period the company jumped seven spots to become the fund’s sixth largest holding at the end of March. BIOLASE Inc (NASDAQ:BIOL)’s stock has continued its rally this quarter too and currently trades with year-to-date gains of over 40%. Better-than-expected fourth quarter numbers that the medical device company released on March 9 is the main reason why its stock is flying high this year, although for the first quarter, Biolase posted a net loss of $0.07, lower than the expected loss of $0.03, while the revenue of $11 million was below expectations of $11.90 million. Stephen Dubois‘ Camber Capital Management was the largest shareholder of BIOLASE Inc among funds covered by us at the end of December, it owned 5.33 million shares of the company at that time.

#3 Vermillion, Inc. (NASDAQ:VRML)

– Shares Owned by Birchview Capital (as of March 31): 2.72 million

– Value of Holding (as of March 31): $4 million

With Birchview Capital not making any changes to its stake in Vermillion, Inc. (NASDAQ:VRML) during the first quarter, the company continued to remain its third largest equity holding at the of that period. Vermillion, Inc. (NASDAQ:VRML)’s stock has seen on a gradual decline since mid-2013, when it made a high above the $4 mark, and is currently trading down by 37% year-to-date. For its fiscal 2015 fourth quarter, the company managed to beat the earnings estimate by $0.01 by declaring a per share loss of $0.10, but missed the Street’s revenue projection of $0.36 million by $0.04 million. Its first quarter results are scheduled to be reported on May 16. Following the earnings release, on March 29, analysts at Canaccord Genuity reiterated their ‘Buy’ rating on the stock, but lowered their price target on it to $2.50 from $4.00. Among the notable investors that trimmed their stake in the company during the last quarter of 2015 was Jim Simons‘ Renaissance Technologies, which brought its holding down by 3% to 320,800 shares.