Oculis (NASDAQ:OCS) Sees Unusually-High Trading Volume After Analyst Upgrade

Key Points

• Oculis experienced a 39% increase in trading volume after HC Wainwright raised its price target from $33.00 to $36.00, while maintaining a buy rating on the stock.
• Despite positive ratings from several analysts, including four buy ratings, Weiss Ratings reaffirmed a "sell (d-)" rating for Oculis, indicating mixed sentiment among investors.
• Oculis reported a quarterly EPS of ($0.59), missing the consensus estimate, with significant losses reflected in its financial performance and a forecast of -2.09 EPS for the current fiscal year.

Oculis Holding AG (NASDAQ:OCS - Get Free Report) saw an uptick in trading volume on Tuesday after HC Wainwright raised their price target on the stock from $33.00 to $36.00. HC Wainwright currently has a buy rating on the stock. 57,118 shares changed hands during mid-day trading, an increase of 39% from the previous session's volume of 41,034 shares.The stock last traded at $18.83 and had previously closed at $18.56.

Other equities analysts have also issued reports about the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Oculis in a report on Saturday, September 27th. Wall Street Zen cut shares of Oculis from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st. Finally, Needham & Company LLC began coverage on shares of Oculis in a research note on Wednesday, August 27th. They issued a "buy" rating and a $36.00 target price for the company. Four 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.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.50.

Institutional Trading of Oculis

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in Oculis by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 40,512 shares of the company's stock valued at $786,000 after acquiring an additional 878 shares during the period. Bosun Asset Management LLC acquired a new stake in Oculis during the 2nd quarter valued at approximately $378,000. Marshall Wace LLP acquired a new stake in Oculis during the 2nd quarter valued at approximately $393,000. Geode Capital Management LLC lifted its stake in Oculis by 27.7% during the 2nd 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 period. Finally, Compagnie Lombard Odier SCmA lifted its stake in Oculis by 11.5% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 97,000 shares of the company's stock valued at $1,883,000 after acquiring an additional 10,000 shares during the period. 22.30% of the stock is currently owned by institutional investors and hedge funds.

Oculis Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.55 and a current ratio of 4.55. The firm's 50 day simple moving average is $17.52 and its 200 day simple moving average is $18.06. The firm has a market capitalization of $824.52 million, a price-to-earnings ratio of -7.07 and a beta of 0.29.

Oculis (NASDAQ:OCS - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The company reported ($0.59) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $0.14 million. Sell-side analysts forecast that Oculis Holding AG will post -2.09 earnings per share for the current fiscal year.

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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