Needham & Company LLC Cuts Oculis (NASDAQ:OCS) Price Target to $38.00

Oculis (NASDAQ:OCS) had its target price lowered by investment analysts at Needham & Company LLC from $46.00 to $38.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 67.39% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. HC Wainwright increased their price target on shares of Oculis from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Oculis in a report on Tuesday, April 21st. Guggenheim initiated coverage on shares of Oculis in a report on Wednesday, May 20th. They issued a “buy” rating and a $75.00 price target on the stock. Stifel Nicolaus increased their target price on shares of Oculis from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Oculis from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Oculis presently has an average rating of “Moderate Buy” and a consensus target price of $45.75.

Oculis Stock Performance

NASDAQ OCS opened at $22.70 on Monday. Oculis has a 1 year low of $16.00 and a 1 year high of $34.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.18 and a quick ratio of 5.18. The stock has a market capitalization of $1.32 billion, a PE ratio of -10.66 and a beta of 0.23. The company’s 50 day simple moving average is $27.68 and its two-hundred day simple moving average is $25.21.

Oculis (NASDAQ:OCS) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.14). The company had revenue of $0.26 million during the quarter, compared to the consensus estimate of $0.25 million. Oculis had a negative return on equity of 56.78% and a negative net margin of 8,460.67%. Analysts predict that Oculis will post -2.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oculis

Several institutional investors and hedge funds have recently made changes to their positions in OCS. Gildi lifeyrissjodur bought a new position in shares of Oculis during the 4th quarter valued at $50,250,000. Aberdeen Group plc grew its holdings in shares of Oculis by 39.4% during the 4th quarter. Aberdeen Group plc now owns 1,746,946 shares of the company’s stock valued at $34,887,000 after purchasing an additional 493,827 shares during the last quarter. Perceptive Advisors LLC purchased a new stake in Oculis during the 4th quarter valued at $9,862,000. SR One Capital Management LP boosted its position in Oculis by 98.8% during the 4th quarter. SR One Capital Management LP now owns 641,022 shares of the company’s stock valued at $12,801,000 after buying an additional 318,522 shares during the period. Finally, Alyeska Investment Group L.P. boosted its position in Oculis by 152.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 331,332 shares of the company’s stock valued at $6,617,000 after buying an additional 200,000 shares during the period. 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.