HC Wainwright Reaffirms Buy Rating for Oculis (NASDAQ:OCS)

Key Points

• HC Wainwright reaffirmed its Buy rating on Oculis and maintained a $26 price target, implying 116.85% upside from the prior close.
• Analyst sentiment is generally positive: nine analysts rate Oculis a Buy and one rates it Sell, producing a consensus rating of Moderate Buy with an average price target of $38.33.
• Oculis reported a quarterly loss of $0.63 per share, missing estimates of $0.49, while revenue of $0.26 million slightly exceeded expectations; institutional investors own 22.3% of the stock.

Oculis (NASDAQ:OCS - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $26.00 price objective on the stock. HC Wainwright's target price indicates a potential upside of 116.85% from the company's previous close.

OCS has been the subject of several other reports. Needham & Company LLC decreased their price objective on shares of Oculis from $46.00 to $38.00 and set a "buy" rating for the company in a report on Monday, June 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Oculis in a research report on Friday, July 17th. Stifel Nicolaus decreased their price target on Oculis from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, June 1st. JPMorgan Chase & Co. lowered 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. Finally, Wall Street Zen lowered Oculis from a "sell" rating to a "strong sell" rating in a report on Sunday, July 12th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Oculis Stock Performance

OCS stock opened at $11.99 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.18 and a current ratio of 5.18. The stock has a market capitalization of $695.18 million, a price-to-earnings ratio of -5.63 and a beta of 0.51. Oculis has a 1 year low of $10.52 and a 1 year high of $34.47. The stock's fifty day moving average is $13.07 and its two-hundred day moving average is $22.55.

Oculis (NASDAQ:OCS - Get Free Report) last posted its earnings results on Friday, May 8th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $0.26 million during the quarter, compared to the consensus estimate of $0.25 million. On average, research analysts predict that Oculis will post -2.27 EPS for the current year.

Institutional Trading of Oculis

A number of large investors have recently added to or reduced their stakes in the business. Gildi lifeyrissjodur acquired a new stake in shares of Oculis during the 4th quarter valued at $50,250,000. Folketrygdfondet acquired a new position in shares of Oculis in the 4th quarter valued at $3,651,000. NEXTBio Capital Management LP purchased a new stake in shares of Oculis in the 4th quarter valued at approximately $2,991,000. Simplify Asset Management Inc. acquired a new position in Oculis in the 4th quarter worth approximately $1,972,000. Finally, Propel Bio Management LLC acquired a new stake in Oculis during the 4th quarter valued at $3,452,000. 22.30% of the stock is currently owned by institutional investors.

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.

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