Oculis (NASDAQ:OCS) Given “Buy” Rating at HC Wainwright

Oculis (NASDAQ:OCS)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $26.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 116.85% from the company’s previous close.

Several other analysts also recently commented on the stock. Robert W. Baird decreased their target price on shares of Oculis from $49.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday, June 1st. Guggenheim decreased their price objective on shares of Oculis from $75.00 to $45.00 and set a “buy” rating for the company in a report on Monday, June 1st. Needham & Company LLC lowered their target price on shares of Oculis from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. JPMorgan Chase & Co. reduced their price target on Oculis from $42.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. Finally, Wall Street Zen downgraded Oculis from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Oculis Stock Up 0.8%

OCS stock opened at $11.99 on Wednesday. The company has a 50 day moving average of $13.07 and a two-hundred day moving average of $22.55. The company has a market cap of $695.18 million, a price-to-earnings ratio of -5.63 and a beta of 0.51. Oculis has a 12-month low of $10.52 and a 12-month high of $34.47. The company has a quick ratio of 5.18, a current ratio of 5.18 and a debt-to-equity ratio of 0.01.

Oculis (NASDAQ:OCS) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.14). Oculis had a negative return on equity of 56.78% and a negative net margin of 8,460.67%.The company had revenue of $0.26 million during the quarter, compared to analyst estimates of $0.25 million. On average, equities analysts anticipate that Oculis will post -2.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in Oculis by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 40,512 shares of the company’s stock worth $786,000 after acquiring an additional 878 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Oculis by 100.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $40,000 after acquiring an additional 1,000 shares during the period. Geode Capital Management LLC grew its position in shares of Oculis by 27.7% in the second quarter. Geode Capital Management LLC now owns 29,436 shares of the company’s stock valued at $571,000 after purchasing an additional 6,384 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in shares of Oculis in the first quarter worth about $238,000. Finally, Millennium Management LLC bought a new position in shares of Oculis in the fourth quarter worth about $312,000. 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.