HC Wainwright Lowers Oculis (NASDAQ:OCS) Price Target to $29.00

Oculis (NASDAQ:OCS) had its price objective cut by HC Wainwright from $30.00 to $29.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 54.50% from the stock’s previous close.

Separately, Chardan Capital restated a “buy” rating and set a $28.00 target price on shares of Oculis in a research report on Tuesday, January 7th.

Oculis Price Performance

Shares of NASDAQ OCS opened at $18.77 on Thursday. The stock has a fifty day simple moving average of $20.89 and a two-hundred day simple moving average of $16.89. Oculis has a 1-year low of $10.55 and a 1-year high of $23.08. The firm has a market cap of $760.26 million, a price-to-earnings ratio of -9.73 and a beta of 0.02. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 0.01.

Oculis (NASDAQ:OCS) last announced its quarterly earnings data on Tuesday, March 11th. The company reported ($0.76) earnings per share 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%. Analysts anticipate that Oculis will post -2.09 earnings per share for the current year.

Institutional Investors Weigh In On Oculis

Several institutional investors have recently made changes to their positions in OCS. Citadel Advisors LLC purchased a new stake in shares of Oculis in the fourth quarter worth $389,000. Bank of America Corp DE raised its position in shares of Oculis by 58.2% in the fourth quarter. Bank of America Corp DE now owns 28,980 shares of the company’s stock worth $493,000 after buying an additional 10,667 shares in the last quarter. Bellevue Group AG purchased a new stake in shares of Oculis in the fourth quarter worth $170,000. XTX Topco Ltd purchased a new stake in shares of Oculis in the fourth quarter worth $225,000. Finally, Geode Capital Management LLC raised its position in shares of Oculis by 12.0% in the fourth quarter. Geode Capital Management LLC now owns 16,744 shares of the company’s stock worth $284,000 after buying an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 22.30% of the company’s stock.

Oculis Company Profile

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.