Oculis (NASDAQ:OCS) Price Target Raised to $39.00

Oculis (NASDAQ:OCS) had its price objective raised by HC Wainwright from $26.00 to $39.00 in a research note published on Friday morning, MarketBeat reports. HC Wainwright currently has a buy rating on the stock.

A number of other brokerages have also weighed in on OCS. Weiss Ratings restated a “sell (d-)” rating on shares of Oculis in a research report on Friday, July 17th. Needham & Company LLC decreased their target price on Oculis from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Wall Street Zen raised Oculis from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Stifel Nicolaus cut their price target on Oculis from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, June 1st. Finally, JPMorgan Chase & Co. reduced their price objective on Oculis from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, August 14th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Oculis has a consensus rating of “Moderate Buy” and a consensus price target of $39.44.

Oculis Price Performance

Shares of NASDAQ:OCS opened at $10.14 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.35 and a current ratio of 8.35. The firm has a fifty day moving average price of $12.03 and a 200 day moving average price of $18.88. Oculis has a fifty-two week low of $9.65 and a fifty-two week high of $34.47. The firm has a market cap of $587.92 million, a price-to-earnings ratio of -5.83 and a beta of 0.52.

Oculis (NASDAQ:OCS) last posted its earnings results on Tuesday, June 30th. The company reported ($0.20) earnings per share for the quarter. The company had revenue of $0.38 million for the quarter. Oculis had a negative net margin of 6,777.18% and a negative return on equity of 42.61%. As a group, sell-side analysts expect that Oculis will post -2.01 earnings per share for the current fiscal year.

Institutional Trading of Oculis

A number of large investors have recently made changes to their positions in OCS. Bank of America Corp DE grew its position in Oculis by 9.1% in the first quarter. Bank of America Corp DE now owns 69,764 shares of the company’s stock worth $1,855,000 after acquiring an additional 5,813 shares in the last quarter. Koshinski Asset Management Inc. bought a new stake in Oculis during the first quarter worth approximately $238,000. Himension Capital Singapore PTE. LTD. purchased a new stake in Oculis during the first quarter valued at approximately $503,000. Y Intercept Hong Kong Ltd purchased a new stake in Oculis during the first quarter valued at approximately $776,000. Finally, Squarepoint Ops LLC lifted its stake in shares of Oculis by 326.4% in the 2nd quarter. Squarepoint Ops LLC now owns 61,605 shares of the company’s stock valued at $854,000 after purchasing an additional 47,158 shares during the last quarter. 22.30% of the stock is currently owned by institutional investors.

About Oculis

Oculis is a clinical-stage biopharmaceutical company focused on developing ophthalmic therapies for eye diseases and vision loss. The company uses proprietary drug-delivery technologies designed to improve the delivery of treatments to specific tissues in the eye, with the goal of offering effective and convenient alternatives to injections or other invasive procedures.

Oculis’ pipeline includes OCS-01, a topical eye-drop formulation of dexamethasone being developed for diabetic macular edema and inflammation following ocular surgery.