Oculis (NASDAQ:OCS) Earns Buy Rating from Needham & Company LLC

Oculis (NASDAQ:OCS)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They currently have a $36.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 90.48% from the company’s current price.

A number of other brokerages also recently weighed in on OCS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oculis in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Oculis from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. HC Wainwright boosted their target price on shares of Oculis from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Chardan Capital restated a “buy” rating and issued a $51.00 price target on shares of Oculis in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Oculis Price Performance

OCS stock opened at $18.90 on Tuesday. The company has a quick ratio of 4.55, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The firm has a market cap of $989.98 million, a price-to-earnings ratio of -7.50 and a beta of 0.30. The company’s fifty day simple moving average is $19.10 and its 200 day simple moving average is $18.62. Oculis has a 12-month low of $14.00 and a 12-month high of $23.08.

Oculis (NASDAQ:OCS) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.10. The firm had revenue of $0.31 million during the quarter, compared to analyst estimates of $0.23 million. Oculis had a negative return on equity of 80.82% and a negative net margin of 12,915.42%. On average, analysts expect that Oculis will post -2.09 earnings per share for the current year.

Hedge Funds Weigh In On Oculis

Hedge funds have recently added to or reduced their stakes in the stock. 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 valued at $786,000 after buying an additional 878 shares during the last quarter. Bosun Asset Management LLC bought a new position in shares of Oculis during the second quarter valued at about $378,000. Marshall Wace LLP purchased a new position in Oculis during the second quarter worth about $393,000. Geode Capital Management LLC grew its position in Oculis by 27.7% in the 2nd 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, Compagnie Lombard Odier SCmA increased its stake in Oculis by 11.5% in the 2nd quarter. Compagnie Lombard Odier SCmA now owns 97,000 shares of the company’s stock valued at $1,883,000 after buying an additional 10,000 shares during the last quarter. Institutional investors and hedge funds 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.