HC Wainwright Comments on Oculis Holding AG’s Q2 2024 Earnings (NASDAQ:OCS)

Oculis Holding AG (NASDAQ:OCS) – Equities researchers at HC Wainwright lifted their Q2 2024 earnings per share estimates for shares of Oculis in a report released on Wednesday, April 24th. HC Wainwright analyst Y. Chen now forecasts that the company will post earnings of ($0.37) per share for the quarter, up from their previous forecast of ($0.41). HC Wainwright currently has a “Buy” rating and a $28.00 target price on the stock. The consensus estimate for Oculis’ current full-year earnings is ($1.75) per share. HC Wainwright also issued estimates for Oculis’ Q3 2024 earnings at ($0.35) EPS, Q4 2024 earnings at ($0.35) EPS and FY2024 earnings at ($1.44) EPS.

Oculis (NASDAQ:OCS) last issued its earnings results on Monday, March 18th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.04. The business had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $0.28 million.

Several other equities research analysts have also commented on the stock. Chardan Capital reaffirmed a “buy” rating and set a $30.00 price target on shares of Oculis in a research report on Tuesday, March 19th. Wedbush reaffirmed an “outperform” rating and set a $29.00 price target on shares of Oculis in a research report on Wednesday, March 6th. Finally, Robert W. Baird reduced their price target on shares of Oculis from $64.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, March 19th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $29.14.

Oculis Stock Performance

Shares of NASDAQ:OCS opened at $12.02 on Friday. Oculis has a fifty-two week low of $9.05 and a fifty-two week high of $14.50. The business has a 50-day simple moving average of $11.86 and a two-hundred day simple moving average of $11.23. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.29 and a quick ratio of 5.29.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OCS. Barclays PLC bought a new position in shares of Oculis during the 2nd quarter valued at approximately $44,000. Wolverine Asset Management LLC bought a new position in Oculis in the 3rd quarter worth approximately $77,000. Compagnie Lombard Odier SCmA boosted its stake in Oculis by 47.3% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 95,750 shares of the company’s stock worth $1,053,000 after purchasing an additional 30,750 shares during the period. abrdn plc bought a new position in Oculis in the 4th quarter worth approximately $15,980,000. Finally, Searle & CO. bought a new position in Oculis in the 4th quarter worth approximately $112,000. 22.30% of the stock is currently owned by institutional investors.

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.