Needham & Company LLC Issues Positive Forecast for Oculis (NASDAQ:OCS) Stock Price

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

OCS has been the topic of a number of other reports. Wall Street Zen downgraded shares of Oculis from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. HC Wainwright increased their price objective on shares of Oculis from $44.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oculis in a research note on Tuesday, April 21st. Finally, Stifel Nicolaus upped 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. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Oculis has an average rating of “Moderate Buy” and an average target price of $45.14.

Oculis Stock Performance

OCS stock traded down $2.26 during trading on Tuesday, reaching $30.40. 349,570 shares of the company’s stock were exchanged, compared to its average volume of 346,820. Oculis has a 1-year low of $16.00 and a 1-year high of $34.47. The firm has a market cap of $1.76 billion, a PE ratio of -13.39 and a beta of 0.38. The company’s fifty day moving average price is $27.18 and its 200-day moving average price is $24.33. The company has a quick ratio of 5.96, a current ratio of 5.96 and a debt-to-equity ratio of 0.01.

Oculis (NASDAQ:OCS) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). The company had revenue of $0.26 million for the quarter, compared to the consensus estimate of $0.25 million. Oculis had a negative net margin of 8,173.41% and a negative return on equity of 62.12%. On average, research analysts expect that Oculis will post -2.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Oculis

Hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. lifted its stake 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 purchasing an additional 1,000 shares during the last quarter. Aventura Private Wealth LLC bought a new position in shares of Oculis in the fourth quarter valued at $80,000. Koshinski Asset Management Inc. bought a new position in shares of Oculis in the first quarter valued at $238,000. Millennium Management LLC acquired a new stake in shares of Oculis during the 4th quarter valued at $312,000. Finally, Marshall Wace LLP bought a new stake in shares of Oculis during the 2nd quarter worth $393,000. Institutional investors and hedge funds 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.