Algert Global LLC Acquires New Shares in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

On October 12, 2024, it was reported that Algert Global LLC has made a new investment in Ocular Therapeutix, Inc. (NASDAQ:OCUL). The purchase took place during the second quarter, with Algert Global acquiring 10,114 shares of the biopharmaceutical company, valued at around $69,000.

In addition to Algert Global's investment, several other hedge funds have recently adjusted their stakes in Ocular Therapeutix. For example, Atlas Capital Advisors LLC also purchased new shares in the second quarter for approximately $34,000. Another firm, Amalgamated Bank, increased its holdings in Ocular Therapeutix by 37.9% during the same period, now owning 5,384 shares worth about $37,000 after acquiring an additional 1,481 shares.

Trust Co. of Vermont raised its investment in the fourth quarter by 20%, bringing its total to 6,000 shares valued at $27,000. Bayesian Capital Management LP bought a new stake valued at about $94,000 during the first quarter. Moreover, Ameritas Investment Partners Inc. expanded its holdings by 39.4%, now owning 11,531 shares worth $105,000. Overall, institutional investors and hedge funds hold 59.21% of the company’s shares.

Overview of Ocular Therapeutix's Stock Performance

The stock price of Ocular Therapeutix (OCUL) opened at $9.78 on the reporting date. Key metrics for the company include a debt-to-equity ratio of 0.18, a current ratio of 16.64, and a quick ratio of 16.55. The fifty-day moving average price for the stock is $8.73, while the two-hundred day moving average stands at $7.39. The company has a total market capitalization of $1.52 billion and a P/E ratio of -7.24, indicating its current losses. Over the past year, Ocular Therapeutix has seen a low of $2.00 and a high of $11.31.

In its latest quarterly earnings report released on August 7, the company reported an earnings per share (EPS) of ($0.26), which fell short of the consensus estimate of ($0.22) by $0.04. Additionally, Ocular Therapeutix posted a negative return on equity of 52.75% and a net margin of -226.46%. The company’s revenue for that quarter was reported as $16.40 million, surpassing analyst estimates of $15.85 million, and reflecting a year-over-year increase of 7.9%. Looking ahead, research analysts expect Ocular Therapeutix to report an EPS of -1.02 for the current fiscal year.

Recent Analyst Ratings

Recently, Ocular Therapeutix has been the subject of multiple research reports. HC Wainwright maintained a “buy” rating with a price target of $14.00 per share. Additionally, Piper Sandler reiterated an “overweight” rating with a higher target price of $15.00. On the other hand, Robert W. Baird updated their price target for Ocular Therapeutix, lowering it from $18.00 to $17.00 while keeping an “outperform” rating. Conversely, TD Cowen changed their recommendation from a “strong-buy” to a “hold”. Overall, among one analyst who issued a sell rating, one assigned a hold rating, and five analysts recommended buying the stock, Ocular Therapeutix has a consensus rating of “Moderate Buy” with a target price of $15.67 according to data from MarketBeat.

Company Background

Ocular Therapeutix, Inc. is a biopharmaceutical company that focuses on developing and commercializing treatments for various eye conditions. The company is known for its patented technology which utilizes bioresorbable hydrogel formulations. One of its key products, DEXTENZA, is designed to treat post-surgical ocular inflammation and pain after eye surgery, as well as allergic conjunctivitis.

Conclusion

This recent investment activity highlights the ongoing interest from institutional investors in Ocular Therapeutix, amid its evolving financial performance and stock market presence. With ongoing evaluations from analysts, the future looks promising for both the company and its investors.

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