Oculis (NASDAQ:OCS) Posts 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) issued its quarterly earnings data on Thursday. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.06), Zacks reports. Oculis had a negative return on equity of 90.31% and a negative net margin of 13,958.12%.The company had revenue of $0.25 million for the quarter, compared to the consensus estimate of $0.14 million.

Oculis Stock Down 0.3%

Oculis stock traded down $0.05 during trading on Wednesday, hitting $17.49. 24,694 shares of the company were exchanged, compared to its average volume of 43,878. The company has a market capitalization of $763.43 million, a P/E ratio of -6.55 and a beta of 0.27. The company has a current ratio of 4.55, a quick ratio of 4.55 and a debt-to-equity ratio of 0.01. The business's 50 day moving average is $18.31 and its 200 day moving average is $18.62. Oculis has a 52 week low of $11.56 and a 52 week high of $23.08.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in Oculis by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 40,512 shares of the company's stock valued at $786,000 after purchasing an additional 878 shares during the period. Geode Capital Management LLC grew its stake in Oculis by 27.7% in the 2nd quarter. Geode Capital Management LLC now owns 29,436 shares of the company's stock valued at $571,000 after purchasing an additional 6,384 shares during the period. Finally, Marshall Wace LLP bought a new position in Oculis in the 2nd quarter valued at $393,000. Institutional investors own 22.30% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OCS. Chardan Capital boosted their price target on Oculis from $28.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Needham & Company LLC began coverage on Oculis in a research note on Wednesday. They issued a "buy" rating and a $36.00 price target on the stock. Finally, HC Wainwright boosted their price target on Oculis from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $35.75.

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.