Oculis (NASDAQ:OCS) Price Target Cut to $20.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Oculis’s price target from $23 to $20 while maintaining an “overweight” rating, implying roughly 55% upside from the stock’s prior close.
• Other analysts also reduced their targets, but sentiment remains positive: Oculis has a consensus “Moderate Buy” rating and an average price target of $38, based on nine Buy ratings and one Sell rating.
• Oculis shares recently traded at $12.87, near the lower end of their 52-week range, while the clinical-stage biopharmaceutical company reported a quarterly loss of $0.20 per share on $0.38 million in revenue.

Oculis (NASDAQ:OCS - Get Free Report) had its target price decreased by JPMorgan Chase & Co. from $23.00 to $20.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 55.35% from the stock's previous close.

A number of other analysts have also recently commented on OCS. Needham & Company LLC reduced their price objective on Oculis from $46.00 to $38.00 and set a "buy" rating for the company in a research report on Monday, June 1st. Guggenheim cut their price objective on Oculis from $75.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, June 1st. Stifel Nicolaus lowered their price target on shares of Oculis from $50.00 to $40.00 and set a "buy" rating for the company in a report on Monday, June 1st. Robert W. Baird cut their price objective on Oculis from $49.00 to $38.00 and set an "outperform" rating on the stock in a research report on Monday, June 1st. Finally, Wall Street Zen raised Oculis from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.00.

Oculis Trading Up 0.4%

NASDAQ:OCS traded up $0.05 during trading hours on Friday, reaching $12.87. The company's stock had a trading volume of 63,967 shares, compared to its average volume of 477,171. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.35 and a current ratio of 8.35. The firm has a 50-day simple moving average of $12.16 and a 200-day simple moving average of $21.90. The firm has a market capitalization of $746.43 million, a price-to-earnings ratio of -7.39 and a beta of 0.51. Oculis has a 1 year low of $10.52 and a 1 year high of $34.47.

Oculis (NASDAQ:OCS - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The company reported ($0.20) EPS for the quarter. Oculis had a negative net margin of 6,777.18% and a negative return on equity of 42.61%. The firm had revenue of $0.38 million for the quarter. Research analysts expect that Oculis will post -2.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Oculis

Several hedge funds have recently added to or reduced their stakes in OCS. Geode Capital Management LLC grew its holdings in Oculis by 27.7% during the second quarter. Geode Capital Management LLC now owns 29,436 shares of the company's stock worth $571,000 after acquiring an additional 6,384 shares during the period. Marshall Wace LLP purchased a new position in Oculis in the 2nd quarter valued at about $393,000. Bank of America Corp DE boosted its stake in shares of Oculis by 2.2% in the second quarter. Bank of America Corp DE now owns 40,512 shares of the company's stock worth $786,000 after acquiring an additional 878 shares during the last quarter. Woodline Partners LP grew its stake in Oculis by 65.8% during the 3rd quarter. Woodline Partners LP now owns 83,833 shares of the company's stock valued at $1,474,000 after acquiring an additional 33,265 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Oculis by 100.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 2,000 shares of the company's stock valued at $40,000 after purchasing an additional 1,000 shares during the last quarter. 22.30% of the stock is owned by hedge funds and other 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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