JPMorgan Chase & Co. Has Lowered Expectations for Oculis (NASDAQ:OCS) Stock Price

Oculis (NASDAQ:OCS) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $42.00 to $23.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 80.53% from the stock’s current price.

Several other analysts also recently weighed in on OCS. Wall Street Zen downgraded Oculis from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Needham & Company LLC reduced their price objective on Oculis from $46.00 to $38.00 and set a “buy” rating for the company in a research report on Monday. Guggenheim dropped their target price on Oculis from $75.00 to $45.00 and set a “buy” rating for the company in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Oculis in a report on Tuesday, April 21st. Finally, Stifel Nicolaus dropped their price target on Oculis from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.33.

Oculis Stock Up 3.7%

Shares of OCS traded up $0.45 during trading hours on Wednesday, hitting $12.74. 729,164 shares of the company were exchanged, compared to its average volume of 469,787. The company has a market cap of $738.72 million, a PE ratio of -5.98 and a beta of 0.23. The firm’s 50 day moving average is $27.46 and its 200-day moving average is $25.18. Oculis has a 52 week low of $11.70 and a 52 week high of $34.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.18 and a current ratio of 5.18.

Oculis (NASDAQ:OCS) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.14). The company had revenue of $0.26 million for the quarter, compared to the consensus estimate of $0.25 million. Oculis had a negative return on equity of 56.78% and a negative net margin of 8,460.67%. On average, equities research analysts forecast that Oculis will post -2.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Oculis

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Gildi lifeyrissjodur bought a new position in shares of Oculis in the 4th quarter worth $50,250,000. Aberdeen Group plc boosted its position in shares of Oculis by 39.4% in the 4th quarter. Aberdeen Group plc now owns 1,746,946 shares of the company’s stock worth $34,887,000 after purchasing an additional 493,827 shares during the last quarter. SR One Capital Management LP boosted its position in shares of Oculis by 98.8% in the 4th quarter. SR One Capital Management LP now owns 641,022 shares of the company’s stock worth $12,801,000 after purchasing an additional 318,522 shares during the last quarter. Perceptive Advisors LLC bought a new position in Oculis during the fourth quarter worth about $9,862,000. Finally, Alyeska Investment Group L.P. lifted its holdings in Oculis by 152.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 331,332 shares of the company’s stock worth $6,617,000 after acquiring an additional 200,000 shares in the last quarter. 22.30% of the stock is 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.