Oculis (NASDAQ:OCS) Given New $47.00 Price Target at HC Wainwright

Oculis (NASDAQ:OCS) had its target price upped by stock analysts at HC Wainwright from $44.00 to $47.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 54.28% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus lifted their target price on shares of Oculis from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Needham & Company LLC lifted their target price on shares of Oculis from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oculis in a research note on Tuesday, April 21st. Finally, Wall Street Zen lowered shares of Oculis from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.29.

Oculis Trading Down 6.7%

Shares of OCS traded down $2.19 during trading hours on Tuesday, reaching $30.46. 316,977 shares of the company traded hands, compared to its average volume of 346,203. The company’s fifty day moving average price is $27.18 and its two-hundred day moving average price is $24.33. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -13.44 and a beta of 0.38. The company has a quick ratio of 5.96, a current ratio of 5.96 and a debt-to-equity ratio of 0.01. Oculis has a 12 month low of $16.00 and a 12 month high of $34.47.

Oculis (NASDAQ:OCS) last announced its earnings results on Monday, May 11th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). The company had revenue of $0.26 million for the quarter, compared to the consensus estimate of $0.25 million. Oculis had a negative net margin of 8,173.41% and a negative return on equity of 62.12%. Equities research analysts predict that Oculis will post -2.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oculis

Several hedge funds have recently bought and sold shares of OCS. Geode Capital Management LLC boosted its stake in Oculis by 27.7% during the second quarter. Geode Capital Management LLC now owns 29,436 shares of the company’s stock worth $571,000 after acquiring an additional 6,384 shares in the last quarter. Marshall Wace LLP purchased a new position in Oculis in the second quarter worth about $393,000. Bank of America Corp DE raised its holdings in Oculis by 2.2% in the second quarter. Bank of America Corp DE now owns 40,512 shares of the company’s stock worth $786,000 after buying an additional 878 shares during the last quarter. Woodline Partners LP raised its holdings in Oculis by 65.8% in the third quarter. Woodline Partners LP now owns 83,833 shares of the company’s stock worth $1,474,000 after buying an additional 33,265 shares during the last quarter. Finally, Aventura Private Wealth LLC purchased a new position in Oculis in the fourth quarter worth about $80,000. Institutional investors own 22.30% of the company’s stock.

Oculis Company Profile

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.