Oculis (NASDAQ:OCS) Price Target Raised to $33.00 at HC Wainwright

Key Points

• Oculis has had its price target raised by HC Wainwright from $32.00 to $33.00, indicating a potential upside of 85.39% from its current price.
• In addition, Chardan Capital also raised its price target for Oculis to $33.00, supporting a consensus "buy" rating among analysts.
• The company's lead product, OCS-01, is currently in Phase 3 clinical trials for treating diabetic macular edema, showcasing its focus on ophthalmic diseases.

Oculis (NASDAQ:OCS - Free Report) had its price objective increased by HC Wainwright from $32.00 to $33.00 in a report published on Friday morning, MarketBeat.com reports. HC Wainwright currently has a buy rating on the stock.

Separately, Chardan Capital boosted their target price on shares of Oculis from $28.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $35.75.

Oculis Stock Performance

Shares of NASDAQ:OCS traded down $0.05 during mid-day trading on Friday, reaching $17.49. 24,694 shares of the company traded hands, compared to its average volume of 43,878. The company's 50 day moving average price is $18.31 and its 200-day moving average price is $18.62. The firm has a market cap of $763.43 million, a PE ratio of -6.55 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 52 week low of $11.56 and a 52 week 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 analysts' consensus estimates of ($0.53) by ($0.06). The company had revenue of $0.25 million for the quarter, compared to the consensus estimate of $0.14 million. Oculis had a negative net margin of 13,958.12% and a negative return on equity of 90.31%. On average, equities analysts expect that Oculis will post -2.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Oculis

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its position in Oculis by 58.2% in the fourth quarter. Bank of America Corp DE now owns 28,980 shares of the company's stock worth $493,000 after acquiring an additional 10,667 shares during the period. Citadel Advisors LLC purchased a new position in Oculis in the fourth quarter worth approximately $389,000. Kestra Private Wealth Services LLC purchased a new position in Oculis in the first quarter worth approximately $234,000. Geode Capital Management LLC grew its position in Oculis by 12.0% in the fourth quarter. Geode Capital Management LLC now owns 16,744 shares of the company's stock worth $284,000 after acquiring an additional 1,800 shares during the period. Finally, Aberdeen Group plc grew its position in 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 acquiring an additional 243,695 shares during the period. Hedge funds and other institutional investors 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.