Oculis (NASDAQ:OCS) Given New $42.00 Price Target at JPMorgan Chase & Co.

Oculis (NASDAQ:OCS) had its price objective upped by equities researchers at JPMorgan Chase & Co. from $38.00 to $42.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 45.10% from the company’s previous close.

Other analysts also recently issued research reports about the company. Stifel Nicolaus boosted their target price on Oculis from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Wall Street Zen downgraded Oculis from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Needham & Company LLC boosted their target price on Oculis from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Oculis in a research report on Tuesday, April 21st. Finally, HC Wainwright boosted their target price on Oculis from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.71.

Oculis Stock Performance

Shares of Oculis stock traded down $1.35 during trading hours on Monday, hitting $28.95. 112,718 shares of the company’s stock traded hands, compared to its average volume of 347,481. Oculis has a 12-month low of $16.00 and a 12-month high of $34.47. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -13.58 and a beta of 0.38. The company has a fifty day simple moving average of $27.36 and a 200-day simple moving average of $24.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.18 and a quick ratio of 5.18.

Oculis (NASDAQ:OCS) last announced its earnings results on Monday, May 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.14). Oculis had a negative net margin of 8,460.67% and a negative return on equity of 56.78%. The business had revenue of $0.26 million for the quarter, compared to analysts’ expectations of $0.25 million. Equities research analysts anticipate that Oculis will post -2.18 EPS for the current fiscal year.

Institutional Trading of Oculis

Hedge funds and other institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. lifted its position in Oculis by 100.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $40,000 after purchasing an additional 1,000 shares during the last quarter. Aventura Private Wealth LLC purchased a new stake in Oculis in the fourth quarter worth $80,000. Koshinski Asset Management Inc. purchased a new stake in Oculis in the first quarter worth $238,000. Millennium Management LLC purchased a new stake in Oculis in the fourth quarter worth $312,000. Finally, Marshall Wace LLP purchased a new stake in Oculis in the second quarter worth $393,000. Institutional investors own 22.30% of the company’s stock.

About Oculis

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.