Oculis (NASDAQ:OCS) Price Target Raised to $46.00 at Needham & Company LLC

Oculis (NASDAQ:OCS) had its price objective upped by Needham & Company LLC from $40.00 to $46.00 in a report issued on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Stifel Nicolaus lifted their price target on Oculis from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Wall Street Zen downgraded Oculis from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oculis in a research note on Tuesday, April 21st. Finally, HC Wainwright lifted their target price on Oculis from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.14.

Oculis Stock Down 6.9%

NASDAQ:OCS opened at $30.41 on Tuesday. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -14.28 and a beta of 0.38. Oculis has a one year low of $16.00 and a one year high of $34.47. The stock has a 50-day simple moving average of $27.20 and a 200 day simple moving average of $24.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.96 and a current ratio of 5.96.

Oculis (NASDAQ:OCS) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.14). The firm had revenue of $0.26 million during the quarter, compared to analyst estimates of $0.25 million. Oculis had a negative return on equity of 61.23% and a negative net margin of 8,460.67%. Sell-side analysts predict that Oculis will post -2.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Oculis

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its position in shares of Oculis by 2.2% during the second quarter. Bank of America Corp DE now owns 40,512 shares of the company’s stock worth $786,000 after buying an additional 878 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Oculis by 100.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $40,000 after buying an additional 1,000 shares during the period. Aventura Private Wealth LLC acquired a new position in shares of Oculis during the fourth quarter worth approximately $80,000. Geode Capital Management LLC raised its holdings in Oculis by 27.7% during the second quarter. Geode Capital Management LLC now owns 29,436 shares of the company’s stock worth $571,000 after purchasing an additional 6,384 shares in the last quarter. Finally, Koshinski Asset Management Inc. acquired a new stake in Oculis in the first quarter worth approximately $238,000. 22.30% of the stock is currently owned by institutional investors and hedge funds.

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.