Oculis (NASDAQ:OCS) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Key Points

• Oculis reported a quarterly earnings per share of ($0.59), missing analysts' estimates by $0.06, while achieving revenue of $0.25 million against expectations of $0.14 million.
• Oculis stock opened at $17.80 with a 52-week trading range between $10.79 and $23.08, and a market capitalization of $777.15 million.
• Multiple analysts have a "buy" rating on Oculis, with target prices increased to $33.00 by HC Wainwright and Chardan Capital, and an average target price of $35.67.

Oculis (NASDAQ:OCS - Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.59) earnings per share for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.06), Zacks reports. The business had revenue of $0.25 million for the quarter, compared to analyst estimates of $0.14 million. Oculis had a negative net margin of 13,788.70% and a negative return on equity of 92.95%.

Oculis Stock Up 1.4%

Oculis stock opened at $17.80 on Friday. Oculis has a 52 week low of $10.79 and a 52 week high of $23.08. The company's 50 day moving average price is $18.41 and its two-hundred day moving average price is $18.74. The stock has a market cap of $777.15 million, a P/E ratio of -6.74 and a beta of 0.27.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on OCS shares. HC Wainwright boosted their target price on Oculis from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Friday. Chardan Capital upped their target price on Oculis from $28.00 to $33.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $35.67.

Hedge Funds Weigh In On Oculis

Several institutional investors have recently bought and sold shares of the company. Marshall Wace LLP bought a new stake in shares of Oculis during the 2nd quarter valued at $393,000. Geode Capital Management LLC increased its stake in Oculis by 27.7% in the second quarter. Geode Capital Management LLC now owns 29,436 shares of the company's stock valued at $571,000 after acquiring an additional 6,384 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Oculis by 2.2% during the second quarter. Bank of America Corp DE now owns 40,512 shares of the company's stock valued at $786,000 after buying an additional 878 shares during the last quarter. 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.

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