Oculis (NASDAQ:OCS) Price Target Raised to $40.00

Oculis (NASDAQ:OCS) had its price target lifted by Stifel Nicolaus from $35.00 to $40.00 in a research report sent to investors on Friday, Marketbeat reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on OCS. Bank of America reduced their price target on Oculis from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. JPMorgan Chase & Co. initiated coverage on Oculis in a research note on Friday. They set an “overweight” rating and a $38.00 price objective for the company. Chardan Capital reissued a “buy” rating and issued a $51.00 target price on shares of Oculis in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Oculis in a research note on Wednesday, October 8th. Finally, HC Wainwright upped their price target on shares of Oculis from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Oculis has a consensus rating of “Moderate Buy” and an average target price of $41.50.

Oculis Stock Up 9.1%

OCS opened at $21.25 on Friday. The firm’s 50 day simple moving average is $20.10 and its two-hundred day simple moving average is $18.86. The company has a market capitalization of $1.11 billion, a PE ratio of -8.43 and a beta of 0.32. Oculis has a 1-year low of $14.00 and a 1-year high of $23.08. The company has a current ratio of 4.47, a quick ratio of 4.47 and a debt-to-equity ratio of 0.02.

Oculis (NASDAQ:OCS) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.10. Oculis had a negative return on equity of 80.82% and a negative net margin of 12,915.42%.The firm had revenue of $0.31 million during the quarter, compared to analyst estimates of $0.23 million. As a group, equities analysts forecast that Oculis will post -2.09 EPS for the current year.

Hedge Funds Weigh In On Oculis

Several hedge funds have recently modified their holdings of OCS. Pivotal bioVenture Partners Investment Advisor LLC boosted its position in shares of Oculis by 32.4% during the first quarter. Pivotal bioVenture Partners Investment Advisor LLC now owns 2,300,774 shares of the company’s stock worth $43,784,000 after acquiring an additional 563,078 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in Oculis in the 1st quarter worth $2,499,000. Woodline Partners LP boosted its holdings in shares of Oculis by 65.8% during the 3rd quarter. Woodline Partners LP now owns 83,833 shares of the company’s stock valued at $1,474,000 after purchasing an additional 33,265 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Oculis during the second quarter valued at about $393,000. Finally, Bosun Asset Management LLC purchased a new position in shares of Oculis during the second quarter valued at about $378,000. Hedge funds and other institutional investors own 22.30% of the company’s stock.

About Oculis

Oculis SA (NASDAQ: OCS) is a clinical-stage biopharmaceutical company focused on developing novel ophthalmic therapies designed primarily to treat retinal and neuro-ophthalmic diseases. Leveraging its proprietary technology platforms, Oculis aims to deliver therapeutic agents to the back of the eye through topical or nasal administration, potentially offering an alternative to current intravitreal injections. The company’s pipeline includes OCS-01, a topical dexamethasone formulation targeting diabetic macular edema; OCS-05, a neuroprotective candidate for acute optic neuritis and idiopathic intracranial hypertension; and OC-02, a nasal spray formulation of varenicline for dry eye disease.

Founded in 2016 and headquartered in Basel, Switzerland, Oculis operates research and development facilities across Europe and in the United States, with a presence in Cambridge, Massachusetts.