Oculis (NASDAQ:OCS) Issues Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Oculis (NASDAQ:OCS) released its earnings results on Monday. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.10, Zacks reports. Oculis had a negative net margin of 13,958.12% and a negative return on equity of 90.31%.

Oculis Stock Up 1.1%

Shares of NASDAQ OCS traded up $0.22 during trading hours on Monday, hitting $19.45. The stock had a trading volume of 151,300 shares, compared to its average volume of 49,630. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.55 and a current ratio of 4.55. The company has a market capitalization of $1.02 billion, a P/E ratio of -7.28 and a beta of 0.29. The firm’s 50-day moving average price is $18.92 and its two-hundred day moving average price is $18.59. Oculis has a 52 week low of $14.00 and a 52 week high of $23.08.

Institutional Trading of Oculis

Several large investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new position in Oculis during the second quarter valued at approximately $393,000. Geode Capital Management LLC lifted its position in shares of Oculis by 27.7% during 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 during the last quarter. Finally, Bank of America Corp DE grew its holdings in Oculis by 2.2% in the 2nd 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. Institutional investors own 22.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on OCS shares. Needham & Company LLC started coverage on Oculis in a research report on Wednesday, August 27th. They set a “buy” rating and a $36.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oculis in a research report on Wednesday, October 8th. HC Wainwright lifted their price target on Oculis from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Wall Street Zen lowered shares of Oculis from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Finally, Chardan Capital boosted their target price on shares of Oculis from $33.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.00.

About Oculis

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.