Oculis (NASDAQ:OCS) Given New $36.00 Price Target at HC Wainwright

Key Points

• HC Wainwright has increased Oculis' price target from $33.00 to $36.00, indicating a potential upside of 93.97% from the stock's previous close and maintaining a "buy" rating.
• Oculis currently holds a "Moderate Buy" average rating from analysts, with four analysts recommending a buy and one suggesting a sell.
• Despite missing earnings estimates with a reported loss of ($0.59) earnings per share, the company had a revenue of $0.25 million which surpassed expectations.

Oculis (NASDAQ:OCS - Get Free Report) had its price objective upped by equities research analysts at HC Wainwright from $33.00 to $36.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's target price would suggest a potential upside of 93.97% from the stock's previous close.

OCS has been the subject of several other research reports. Wall Street Zen downgraded Oculis from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Oculis in a research report on Saturday, September 27th. Finally, Needham & Company LLC assumed coverage on shares of Oculis in a research note on Wednesday, August 27th. They issued a "buy" rating and a $36.00 target price for the company. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.50.

Oculis Stock Up 5.6%

Shares of NASDAQ:OCS opened at $18.56 on Tuesday. Oculis has a 1 year low of $13.60 and a 1 year high of $23.08. The company has a market capitalization of $810.33 million, a PE ratio of -6.95 and a beta of 0.29. The business has a fifty day moving average price of $17.52 and a two-hundred day moving average price of $18.06. 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 (NASDAQ:OCS - Get Free Report) last released its earnings results on Thursday, August 21st. The company reported ($0.59) earnings per share for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.06). Oculis had a negative net margin of 13,958.12% and a negative return on equity of 90.31%. The company had revenue of $0.25 million during the quarter, compared to analysts' expectations of $0.14 million. Analysts forecast that Oculis will post -2.09 earnings per share for the current year.

Hedge Funds Weigh In On Oculis

A number of large investors have recently modified their holdings of the company. Bank of America Corp DE grew its stake in Oculis by 58.2% during the fourth quarter. Bank of America Corp DE now owns 28,980 shares of the company's stock valued at $493,000 after acquiring an additional 10,667 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Oculis in the 1st quarter valued at $2,499,000. Kestra Private Wealth Services LLC purchased a new position in shares of Oculis during the 1st quarter valued at $234,000. Compagnie Lombard Odier SCmA increased its holdings in shares of Oculis by 11.5% in the second quarter. Compagnie Lombard Odier SCmA now owns 97,000 shares of the company's stock worth $1,883,000 after purchasing an additional 10,000 shares during the period. Finally, Aberdeen Group plc raised its position in shares of Oculis by 24.1% in the first quarter. Aberdeen Group plc now owns 1,253,119 shares of the company's stock worth $23,847,000 after buying an additional 243,695 shares in the last quarter. 22.30% of the stock is currently owned by 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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