Chardan Capital Reaffirms Buy Rating for Oculis (NASDAQ:OCS)

Oculis (NASDAQ:OCS)‘s stock had its “buy” rating reiterated by investment analysts at Chardan Capital in a report issued on Thursday,Benzinga reports. They currently have a $28.00 target price on the stock. Chardan Capital’s price target would suggest a potential upside of 49.17% from the stock’s current price.

Separately, HC Wainwright lowered their price target on Oculis from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday.

Oculis Stock Up 0.4 %

OCS opened at $18.77 on Thursday. Oculis has a 12 month low of $10.55 and a 12 month high of $23.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.02 and a quick ratio of 4.02. The stock has a market cap of $760.26 million, a P/E ratio of -9.73 and a beta of 0.02. The stock’s 50 day moving average price is $20.89 and its 200 day moving average price is $16.89.

Oculis (NASDAQ:OCS) last posted its earnings results on Tuesday, March 11th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.28). Oculis had a negative net margin of 8,043.28% and a negative return on equity of 71.31%. As a group, research analysts predict that Oculis will post -2.09 earnings per share for the current year.

Hedge Funds Weigh In On Oculis

Several hedge funds have recently modified their holdings of OCS. Citadel Advisors LLC acquired a new position in shares of Oculis in the 4th quarter worth $389,000. Bank of America Corp DE grew its holdings in shares of Oculis by 58.2% in the 4th quarter. Bank of America Corp DE now owns 28,980 shares of the company’s stock worth $493,000 after acquiring an additional 10,667 shares during the last quarter. Bellevue Group AG acquired a new position in shares of Oculis in the 4th quarter worth $170,000. XTX Topco Ltd acquired a new position in shares of Oculis in the 4th quarter worth $225,000. Finally, Geode Capital Management LLC grew its holdings in shares of Oculis by 12.0% in the 4th quarter. Geode Capital Management LLC now owns 16,744 shares of the company’s stock worth $284,000 after acquiring an additional 1,800 shares during the last quarter. 22.30% of the stock is currently owned by institutional investors and hedge funds.

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.