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

Recently, Algert Global LLC disclosed its purchase of a new stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL). This acquisition took place in the second quarter of the year, where Algert Global LLC acquired a total of 10,114 shares in the biopharmaceutical firm, valued at approximately $69,000.

In addition to Algert Global LLC, several other hedge funds have also adjusted their positions regarding Ocular Therapeutix shares. For instance, Atlas Capital Advisors LLC made a new investment in the company during the second quarter, amounting to $34,000. Similarly, Amalgamated Bank increased its holdings by 37.9% in the same period, bringing its total to 5,384 shares valued at about $37,000 following the purchase of an additional 1,481 shares.

Furthermore, Trust Co. of Vermont also raised its stake in the fourth quarter by 20%, now holding 6,000 shares worth approximately $27,000 after acquiring an additional 1,000 shares. Bayesian Capital Management LP invested roughly $94,000 to purchase a new stake in Ocular Therapeutix during the first quarter, while Ameritas Investment Partners Inc. expanded its holdings by 39.4% in the same term, owning a total of 11,531 shares worth $105,000 after acquiring an additional 3,257 shares.

As a result of these transactions, institutional investors and hedge funds own about 59.21% of Ocular Therapeutix, indicating strong institutional interest in the company.

Performance of Ocular Therapeutix Stock

On the trading front, Ocular Therapeutix shares (OCUL) opened at $9.78. The company maintains a debt-to-equity ratio of 0.18, alongside a current ratio of 16.64 and a quick ratio of 16.55. Ocular Therapeutix has a market capitalization of approximately $1.52 billion and a price-to-earnings (P/E) ratio of -7.24, with a beta of 1.29. Over the past twelve months, the stock has reached a low of $2.00 and a high of $11.31.

The latest quarterly earnings results from Ocular Therapeutix were released on August 7, when the firm reported an earnings per share (EPS) of -$0.26, falling short of the consensus estimate of -$0.22 by $0.04. The company had a negative return on equity of 52.75% and a net margin of -226.46%. The reported revenue for the quarter stood at $16.40 million, surpassing analyst expectations of $15.85 million. Compared to the same quarter last year, revenue shows a 7.9% increase.

Looking ahead, analysts project that Ocular Therapeutix, Inc. will report an EPS of -1.02 for the current fiscal year.

Analyst Ratings

Recent analyst reports have tracked Ocular Therapeutix’s performance closely. HC Wainwright reiterated a “buy” rating and set a price target of $14.00 on the company’s shares as of August 1, while Piper Sandler maintained an “overweight” rating with a target price of $15.00 as of June 21. Conversely, Robert W. Baird decreased its price target from $18.00 to $17.00, while joining in support of the “outperform” rating for Ocular Therapeutix on August 8. In a differing view, TD Cowen downgraded the stock from a “strong-buy” to a “hold” category as of June 21. Currently, one analyst rates the stock with a sell recommendation, one assigns a hold rating, and five have indicated a buy opinion. According to MarketBeat, the consensus rating stands at “Moderate Buy” with an average price target of $15.67.

About Ocular Therapeutix

Ocular Therapeutix, Inc. is a biopharmaceutical entity focused on the development and commercialization of therapies for ocular diseases and conditions. The company specializes in utilizing bioresorbable hydrogel-based formulation technology to create treatments in the U.S. Among its marketed products is DEXTENZA, which is a dexamethasone ophthalmic insert designed to manage post-surgical ocular inflammation and pain as well as to treat allergic conjunctivitis.

Conclusion

As Ocular Therapeutix continues to attract interest from various institutional investors and analysts alike, it remains a significant player in the biopharmaceutical sector, particularly within ocular therapy.

Investment, Shares, Ocular