Oculis (NASDAQ:OCS) Given New $23.00 Price Target at JPMorgan Chase & Co.

Oculis (NASDAQ:OCS) had its price target cut by JPMorgan Chase & Co. from $42.00 to $23.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently commented on OCS. Robert W. Baird dropped their target price on shares of Oculis from $49.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday. HC Wainwright lowered their price objective on shares of Oculis from $47.00 to $26.00 and set a “buy” rating for the company in a research report on Monday. Stifel Nicolaus lowered their price objective on shares of Oculis from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Monday. Guggenheim lowered their price objective on shares of Oculis from $75.00 to $45.00 and set a “buy” rating for the company in a research report on Monday. Finally, Wall Street Zen cut shares of Oculis from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.33.

Oculis Price Performance

Shares of NASDAQ:OCS opened at $13.14 on Wednesday. The firm has a 50 day moving average of $26.98 and a 200-day moving average of $25.09. The stock has a market capitalization of $761.86 million, a PE ratio of -6.17 and a beta of 0.23. The company has a current ratio of 5.18, a quick ratio of 5.18 and a debt-to-equity ratio of 0.01. Oculis has a 12 month low of $11.70 and a 12 month high of $34.47.

Oculis (NASDAQ:OCS) last issued its earnings results on Friday, May 8th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate 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 net margin of 8,460.67% and a negative return on equity of 56.78%. On average, equities research analysts predict that Oculis will post -2.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Oculis

Institutional investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. grew its holdings in Oculis by 100.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $40,000 after acquiring an additional 1,000 shares during the last quarter. Aventura Private Wealth LLC bought a new stake in Oculis during the 4th quarter worth approximately $80,000. Koshinski Asset Management Inc. bought a new stake in Oculis during the 1st quarter worth approximately $238,000. Millennium Management LLC bought a new stake in Oculis during the 4th quarter worth approximately $312,000. Finally, Himension Capital Singapore PTE. LTD. bought a new stake in Oculis during the 1st quarter worth approximately $503,000. 22.30% of the stock is 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.