Oculis (NASDAQ:OCS) Price Target Raised to $51.00

Key Points

• Oculis' price target was raised from $33.00 to $51.00 by Chardan Capital, indicating a potential upside of 167.58% from the stock's previous close.
• The stock currently holds a consensus rating of "Moderate Buy" with an average target price of $41.00, despite mixed ratings from various analysts.
• Oculis recently reported a quarterly loss, with earnings per share of ($0.59), missing estimates and highlighting challenges in financial performance.

Oculis (NASDAQ:OCS - Get Free Report) had its price objective boosted by investment analysts at Chardan Capital from $33.00 to $51.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Chardan Capital's price objective would suggest a potential upside of 167.58% from the stock's previous close.

A number of other analysts also recently issued reports on OCS. Needham & Company LLC initiated coverage on shares of Oculis in a report on Wednesday, August 27th. They issued a "buy" rating and a $36.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Oculis in a report on Saturday, September 27th. HC Wainwright boosted their target price on shares of Oculis from $33.00 to $36.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Wall Street Zen downgraded shares of Oculis from a "hold" rating to a "sell" rating in a report on Sunday, September 21st. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $41.00.

Oculis Price Performance

NASDAQ OCS opened at $19.06 on Wednesday. The company has a quick ratio of 4.55, a current ratio of 4.55 and a debt-to-equity ratio of 0.01. Oculis has a 12-month low of $14.00 and a 12-month high of $23.08. The company has a market capitalization of $832.16 million, a PE ratio of -7.14 and a beta of 0.29. The firm's 50 day moving average is $17.54 and its 200-day moving average is $18.07.

Oculis (NASDAQ:OCS - Get Free Report) last posted 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). Oculis had a negative net margin of 13,958.12% and a negative return on equity of 90.31%. The business had revenue of $0.25 million during the quarter, compared to analyst estimates of $0.14 million. Equities research analysts anticipate that Oculis will post -2.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oculis

Several institutional investors and hedge funds have recently modified their holdings of OCS. Pivotal bioVenture Partners Investment Advisor LLC grew its stake in shares of Oculis by 32.4% in the first quarter. Pivotal bioVenture Partners Investment Advisor LLC now owns 2,300,774 shares of the company's stock valued at $43,784,000 after acquiring an additional 563,078 shares in the last quarter. SR One Capital Management LP acquired a new position in shares of Oculis in the first quarter valued at about $6,137,000. Aberdeen Group plc grew its stake 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 valued at $23,847,000 after acquiring an additional 243,695 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Oculis in the first quarter valued at about $2,499,000. Finally, Marshall Wace LLP acquired a new position in shares of Oculis in the second quarter valued at about $393,000. 22.30% of the stock is currently owned by institutional investors and hedge funds.

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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