Needham & Company LLC Raises Oculis (NASDAQ:OCS) Price Target to $46.00

Oculis (NASDAQ:OCS) had its price objective lifted by stock analysts at Needham & Company LLC from $40.00 to $46.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 51.34% from the company’s previous close.

A number of other analysts have also issued reports on the company. Stifel Nicolaus increased their target price on Oculis from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Oculis in a research report on Tuesday, April 21st. Wall Street Zen downgraded Oculis from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, HC Wainwright raised their price target on shares of Oculis from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday. Seven 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.14.

Oculis Trading Down 6.9%

Shares of OCS traded down $2.26 during midday trading on Tuesday, hitting $30.40. The stock had a trading volume of 349,570 shares, compared to its average volume of 346,820. The business has a 50-day simple moving average of $27.18 and a two-hundred day simple moving average of $24.33. The firm has a market cap of $1.76 billion, a P/E ratio of -13.39 and a beta of 0.38. The company has a current ratio of 5.96, a quick ratio of 5.96 and a debt-to-equity ratio of 0.01. Oculis has a fifty-two week low of $16.00 and a fifty-two week high of $34.47.

Oculis (NASDAQ:OCS) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). Oculis had a negative net margin of 8,173.41% and a negative return on equity of 62.12%. The firm had revenue of $0.26 million for the quarter, compared to analyst estimates of $0.25 million. As a group, equities analysts forecast that Oculis will post -2.17 EPS for the current year.

Institutional Investors Weigh In On Oculis

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of 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 buying an additional 878 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Oculis by 100.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $40,000 after acquiring an additional 1,000 shares in the last quarter. Aventura Private Wealth LLC acquired a new stake in Oculis in the fourth quarter valued at approximately $80,000. Geode Capital Management LLC lifted 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, Koshinski Asset Management Inc. bought a new stake in Oculis in the first quarter worth approximately $238,000. 22.30% of the stock is currently owned by institutional investors and hedge funds.

Oculis Company Profile

Oculis SA (NASDAQ: OCS) is a clinical-stage biopharmaceutical company focused on developing novel ophthalmic therapies designed primarily to treat retinal and neuro-ophthalmic diseases. Leveraging its proprietary technology platforms, Oculis aims to deliver therapeutic agents to the back of the eye through topical or nasal administration, potentially offering an alternative to current intravitreal injections. The company’s pipeline includes OCS-01, a topical dexamethasone formulation targeting diabetic macular edema; OCS-05, a neuroprotective candidate for acute optic neuritis and idiopathic intracranial hypertension; and OC-02, a nasal spray formulation of varenicline for dry eye disease.

Founded in 2016 and headquartered in Basel, Switzerland, Oculis operates research and development facilities across Europe and in the United States, with a presence in Cambridge, Massachusetts.