Needham & Company LLC Begins Coverage on Oculis (NASDAQ:OCS)

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.

Needham & Company LLC started coverage on shares of Oculis (NASDAQ:OCS - Free Report) in a research note published on Wednesday, Marketbeat reports. The firm issued a buy rating and a $36.00 price objective on the stock.

OCS has been the topic of a number of other research reports. Chardan Capital lifted their price target on shares of Oculis from $28.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. HC Wainwright lifted their price target on shares of Oculis from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $35.75.

Oculis Stock Performance

Shares of Oculis stock traded down $0.22 during midday trading on Wednesday, hitting $16.13. The company had a trading volume of 10,420 shares, compared to its average volume of 10,175. The business's 50 day simple moving average is $18.14 and its two-hundred day simple moving average is $18.50. The stock has a market cap of $704.24 million, a PE ratio of -6.04 and a beta of 0.27. 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.

Oculis (NASDAQ:OCS - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.06). The company had revenue of $0.25 million during the quarter, compared to analyst estimates 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 predict that Oculis will post -2.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Oculis

A number of institutional investors have recently bought and sold shares of the business. Bellevue Group AG acquired a new stake in shares of Oculis in the 4th quarter valued at $170,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Oculis in the 1st quarter valued at $234,000. Geode Capital Management LLC boosted its stake in shares of Oculis by 12.0% in the 4th quarter. Geode Capital Management LLC now owns 16,744 shares of the company's stock valued at $284,000 after purchasing an additional 1,800 shares in the last quarter. Bosun Asset Management LLC acquired a new stake in shares of Oculis in the 2nd quarter valued at $378,000. Finally, Marshall Wace LLP acquired a new stake in shares of Oculis in the 2nd quarter valued at $393,000. Institutional investors and hedge funds own 22.30% of the company's stock.

Oculis Company Profile

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.