Oculis (NASDAQ:OCS) Issues Quarterly Earnings Results, Beats Estimates By $0.28 EPS

Oculis (NASDAQ:OCS) issued its quarterly earnings data on Thursday. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.28, FiscalAI reports. The firm had revenue of $0.38 million during the quarter, compared to analyst estimates of $0.22 million. Oculis had a negative return on equity of 45.58% and a negative net margin of 6,777.18%.

Oculis Price Performance

NASDAQ:OCS traded up $0.30 during mid-day trading on Friday, hitting $12.68. 370,877 shares of the stock traded hands, compared to its average volume of 314,551. Oculis has a 12-month low of $10.52 and a 12-month high of $34.47. The company has a quick ratio of 5.18, a current ratio of 5.18 and a debt-to-equity ratio of 0.01. The company has a market cap of $735.19 million, a PE ratio of -7.29 and a beta of 0.51. The business’s 50-day moving average price is $12.17 and its 200 day moving average price is $22.31.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wall Street Zen raised shares of Oculis from a “strong sell” rating to a “sell” rating in a report on Saturday. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Oculis in a research report on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Oculis from $42.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, June 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Oculis in a research note on Friday, July 17th. Finally, Robert W. Baird reduced their target price on Oculis from $49.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, June 1st. Nine 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.33.

Hedge Funds Weigh In On Oculis

A number of institutional investors have recently added to or reduced their stakes in the business. SR One Capital Management LP lifted its position in Oculis by 98.8% in the 4th quarter. SR One Capital Management LP now owns 641,022 shares of the company’s stock worth $12,801,000 after buying an additional 318,522 shares during the last quarter. Perceptive Advisors LLC purchased a new position in shares of Oculis during the fourth quarter worth approximately $9,862,000. Alyeska Investment Group L.P. lifted its holdings in shares of Oculis by 152.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 331,332 shares of the company’s stock worth $6,617,000 after acquiring an additional 200,000 shares during the last quarter. Woodline Partners LP grew its stake in shares of Oculis by 65.8% during the third quarter. Woodline Partners LP now owns 83,833 shares of the company’s stock valued at $1,474,000 after buying an additional 33,265 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new position in shares of Oculis in the fourth quarter worth about $938,000. 22.30% of the stock is currently owned by institutional investors.

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.