Oculis (NASDAQ:OCS) PT Lowered to $28.00

Oculis (NASDAQ:OCS) had its price target lowered by HC Wainwright from $29.00 to $28.00 in a report issued on Wednesday, Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Oculis’ Q2 2024 earnings at ($0.37) EPS, Q3 2024 earnings at ($0.35) EPS, Q4 2024 earnings at ($0.35) EPS and FY2024 earnings at ($1.44) EPS.

A number of other analysts also recently issued reports on the company. Wedbush reissued an outperform rating and issued a $29.00 target price on shares of Oculis in a research report on Wednesday, March 6th. Robert W. Baird reduced their price target on Oculis from $64.00 to $35.00 and set an outperform rating for the company in a research report on Tuesday, March 19th. Finally, Chardan Capital reiterated a buy rating and issued a $30.00 price target on shares of Oculis in a research report on Tuesday, March 19th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $29.14.

Oculis Price Performance

Shares of OCS opened at $12.02 on Wednesday. The company has a quick ratio of 5.29, a current ratio of 5.29 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average of $11.86 and a 200 day moving average of $11.23. Oculis has a 12 month low of $9.05 and a 12 month high of $14.50.

Oculis (NASDAQ:OCS) last issued its quarterly earnings results on Monday, March 18th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.04. The business had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $0.28 million. As a group, analysts expect that Oculis will post -1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oculis

A number of hedge funds and other institutional investors have recently modified their holdings of OCS. abrdn plc bought a new stake in shares of Oculis in the 4th quarter valued at about $15,980,000. Compagnie Lombard Odier SCmA increased its holdings in Oculis by 47.3% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 95,750 shares of the company’s stock valued at $1,053,000 after purchasing an additional 30,750 shares during the period. Searle & CO. purchased a new position in Oculis during the 4th quarter valued at about $112,000. Wolverine Asset Management LLC purchased a new position in Oculis during the 3rd quarter valued at about $77,000. Finally, Barclays PLC purchased a new position in Oculis during the 2nd quarter valued at about $44,000. Institutional investors 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.