Oculis (NASDAQ:OCS) Shares Gap Up – Here’s Why

Oculis Holding AG (NASDAQ:OCS)’s share price gapped up before the market opened on Monday . The stock had previously closed at $11.31, but opened at $11.95. Oculis shares last traded at $11.9810, with a volume of 65,189 shares traded.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Needham & Company LLC reduced their price target 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oculis in a research note on Friday, July 17th. JPMorgan Chase & Co. decreased their price target on Oculis from $42.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 3rd. Stifel Nicolaus dropped 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, Wall Street Zen downgraded Oculis from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Oculis currently has an average rating of “Moderate Buy” and an average target price of $38.33.

Oculis Trading Up 4.4%

The company has a current ratio of 5.18, a quick ratio of 5.18 and a debt-to-equity ratio of 0.01. The stock has a market cap of $684.45 million, a P/E ratio of -5.54 and a beta of 0.51. The business’s fifty day simple moving average is $13.78 and its 200 day simple moving average is $22.71.

Oculis (NASDAQ:OCS) last announced its 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 the consensus estimate of $0.25 million. As a group, analysts expect that Oculis Holding AG will post -2.27 EPS for the current year.

Institutional Investors Weigh In On Oculis

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its position in shares of Oculis by 2.2% during the second 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 last quarter. China Universal Asset Management Co. Ltd. increased its position in Oculis by 100.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $40,000 after purchasing an additional 1,000 shares during the period. Geode Capital Management LLC raised its holdings in Oculis by 27.7% during the 2nd quarter. Geode Capital Management LLC now owns 29,436 shares of the company’s stock worth $571,000 after purchasing an additional 6,384 shares during the last quarter. Koshinski Asset Management Inc. bought a new stake in Oculis during the 1st quarter worth about $238,000. Finally, Millennium Management LLC acquired a new position in Oculis during the 4th quarter valued at about $312,000. 22.30% of the stock is owned by institutional investors and hedge funds.

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.