Oculis (NASDAQ:OCS) Stock Price Up 9% – Still a Buy?
by Teresa Graham · The Cerbat GemShares of Oculis Holding AG (NASDAQ:OCS – Get Free Report) were up 9% on Tuesday . The company traded as high as $11.63 and last traded at $11.6790. Approximately 240,161 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 496,844 shares. The stock had previously closed at $10.71.
Wall Street Analyst Weigh In
OCS has been the topic of several recent analyst reports. HC Wainwright dropped their price target on Oculis from $47.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Robert W. Baird reduced their price objective on Oculis from $49.00 to $38.00 and set an “outperform” rating on the stock in a research note on Monday, June 1st. JPMorgan Chase & Co. dropped their target price on Oculis from $42.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. Guggenheim dropped their target price on Oculis from $75.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Finally, Stifel Nicolaus cut their target price on Oculis from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.33.
Read Our Latest Report on Oculis
Oculis Stock Up 1.0%
The company has a quick ratio of 5.18, a current ratio of 5.18 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $26.16 and a 200-day simple moving average of $24.92. The stock has a market cap of $627.15 million, a P/E ratio of -5.08 and a beta of 0.23.
Oculis (NASDAQ:OCS – Get Free Report) 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). The firm had revenue of $0.26 million for 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%. On average, equities research analysts forecast that Oculis Holding AG will post -2.27 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Oculis
Several hedge funds have recently modified their holdings of OCS. Geode Capital Management LLC boosted its holdings in shares of Oculis by 27.7% during the 2nd quarter. Geode Capital Management LLC now owns 29,436 shares of the company’s stock valued at $571,000 after acquiring an additional 6,384 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Oculis during the 2nd quarter valued at $393,000. Bank of America Corp DE lifted its holdings in Oculis by 2.2% during the 2nd 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 period. Woodline Partners LP lifted its holdings in Oculis by 65.8% during the 3rd 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 period. Finally, Aventura Private Wealth LLC acquired a new position in Oculis during the 4th quarter worth about $80,000. Institutional investors and hedge funds 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.