Oculis (NASDAQ:OCS) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Oculis (NASDAQ:OCS) had its price target hoisted by equities researchers at Needham & Company LLC from $36.00 to $40.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 45.09% from the stock’s previous close.

A number of other brokerages have also commented on OCS. Lifesci Capital began coverage on shares of Oculis in a report on Wednesday, December 3rd. They set an “outperform” rating and a $55.00 price target on the stock. JPMorgan Chase & Co. began coverage on Oculis in a research note on Friday, December 19th. They issued an “overweight” rating and a $38.00 price target for the company. Stifel Nicolaus lifted their price objective on Oculis from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Oculis in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Oculis from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Oculis presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Oculis Trading Down 3.6%

Shares of OCS stock opened at $27.57 on Wednesday. Oculis has a twelve month low of $14.00 and a twelve month high of $30.68. The stock’s fifty day simple moving average is $25.74 and its 200 day simple moving average is $21.40. The company has a quick ratio of 4.47, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.44 billion, a P/E ratio of -10.94 and a beta of 0.29.

Oculis (NASDAQ:OCS) last announced its quarterly earnings results on Tuesday, March 10th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.08). Oculis had a negative net margin of 12,915.42% and a negative return on equity of 80.82%. As a group, sell-side analysts predict that Oculis will post -2.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Oculis

A number of institutional investors and hedge funds have recently made changes to their positions in OCS. China Universal Asset Management Co. Ltd. grew its stake in shares of Oculis by 100.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $40,000 after buying an additional 1,000 shares during the period. Aventura Private Wealth LLC bought a new position in Oculis in the fourth quarter worth approximately $80,000. Millennium Management LLC acquired a new stake in Oculis in the fourth quarter valued at approximately $312,000. Bosun Asset Management LLC acquired a new stake in Oculis in the second quarter valued at approximately $378,000. Finally, Marshall Wace LLP bought a new stake in shares of Oculis during the second quarter valued at approximately $393,000. Institutional investors own 22.30% of the company’s stock.

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.