Oculis (NASDAQ:OCS) Price Target Lowered to $29.00 at Bank of America

Oculis (NASDAQ:OCS) had its price objective decreased by analysts at Bank of America from $30.00 to $29.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 50.53% from the stock’s previous close.

A number of other research firms have also recently commented on OCS. HC Wainwright increased their price target on Oculis from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oculis in a research report on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 target price on shares of Oculis in a research note on Tuesday. Wall Street Zen lowered shares of Oculis from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Finally, Chardan Capital reiterated a “buy” rating and set a $51.00 price objective on shares of Oculis in a research note on Tuesday. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.80.

Oculis Stock Up 1.9%

Shares of Oculis stock traded up $0.37 on Thursday, reaching $19.27. The stock had a trading volume of 64,505 shares, compared to its average volume of 50,400. The company has a quick ratio of 4.55, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.01 billion, a P/E ratio of -7.64 and a beta of 0.30. The company has a 50 day moving average price of $19.10 and a 200 day moving average price of $18.62. Oculis has a 1 year low of $14.00 and a 1 year high of $23.08.

Oculis (NASDAQ:OCS) last announced its earnings results on Monday, November 10th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.10. Oculis had a negative net margin of 12,915.42% and a negative return on equity of 80.82%. The company had revenue of $0.31 million during the quarter, compared to the consensus estimate of $0.23 million. As a group, equities research analysts forecast that Oculis will post -2.09 EPS for the current year.

Hedge Funds Weigh In On Oculis

Institutional investors and hedge funds have recently modified their holdings of the stock. Kestra Private Wealth Services LLC purchased a new stake in shares of Oculis in the first quarter worth about $234,000. Bosun Asset Management LLC purchased a new position in Oculis during the second quarter valued at approximately $378,000. Marshall Wace LLP acquired a new position in Oculis in the second quarter valued at approximately $393,000. Geode Capital Management LLC lifted its holdings 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 period. Finally, Bank of America Corp DE boosted its position in Oculis by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 40,512 shares of the company’s stock worth $786,000 after purchasing an additional 878 shares in the last quarter. Institutional investors and hedge funds own 22.30% of the company’s stock.

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.