Oculis (NASDAQ:OCS) Coverage Initiated at Needham & Company LLC

Key Points

• Needham & Company LLC initiated coverage on Oculis (NASDAQ:OCS), setting a "buy" rating and a price target of $36.00, indicating a potential upside of 105.36%.
• The company recently reported a quarterly earnings miss with an EPS of ($0.59), compared to analysts' expectations of ($0.53).
• Oculis is a clinical-stage biopharmaceutical company developing treatments for ophthalmic diseases, with its lead candidate, OCS-01, in Phase 3 trials for diabetic macular edema.

Investment analysts at Needham & Company LLC assumed coverage on shares of Oculis (NASDAQ:OCS - Get Free Report) in a note issued to investors on Wednesday,Benzinga reports. The brokerage set a "buy" rating and a $36.00 price target on the stock. Needham & Company LLC's price target would indicate a potential upside of 105.36% from the stock's previous close.

OCS has been the subject of a number of other research reports. Chardan Capital boosted their price objective on Oculis from $28.00 to $33.00 and gave the company a "buy" rating in a report on Friday, May 9th. HC Wainwright boosted their price objective on Oculis from $32.00 to $33.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $35.75.

Oculis Stock Performance

NASDAQ:OCS opened at $17.53 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.55 and a quick ratio of 4.55. Oculis has a 1 year low of $11.56 and a 1 year high of $23.08. The stock's 50 day simple moving average is $18.31 and its two-hundred day simple moving average is $18.62. The company has a market cap of $765.39 million, a price-to-earnings ratio of -6.57 and a beta of 0.27.

Oculis (NASDAQ:OCS - Get Free Report) last released its quarterly earnings data on Thursday, August 21st. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.06). The firm had revenue of $0.25 million during the quarter, compared to the consensus estimate of $0.14 million. Oculis had a negative return on equity of 90.31% and a negative net margin of 13,958.12%. As a group, equities analysts anticipate that Oculis will post -2.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oculis

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted its stake in shares of 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 purchasing an additional 878 shares during the last quarter. Bosun Asset Management LLC acquired a new position in Oculis during the 2nd quarter valued at about $378,000. Marshall Wace LLP acquired a new position in Oculis during the 2nd quarter valued at about $393,000. Geode Capital Management LLC increased its position in 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 buying an additional 6,384 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA increased its position in Oculis by 11.5% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 97,000 shares of the company's stock valued at $1,883,000 after buying an additional 10,000 shares in the last quarter. 22.30% of the stock is currently owned by hedge funds and other institutional investors.

About Oculis

Oculis Holding AG, a clinical-stage biopharmaceutical company, develops drug candidates to treat ophthalmic diseases. The company's lead product candidate is OCS-01, a topical dexamethasone optireach formulation, which is in Phase 3 clinical trials for the treatment of diabetic macular edema; OCS-02, a topical biologic candidate that is in Phase 2b clinical trials for the treatment for dry eye disease; and OCS-05, a disease modifying neuroprotective agent for neurological damage with indications for glaucoma, dry age-related macular degeneration and diabetic retinopathy, and acute optic neuritis.

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