Oculis (NASDAQ:OCS) Shares Gap Up on Analyst Upgrade

Oculis Holding AG (NASDAQ:OCS)’s stock price gapped up before the market opened on Thursday after HC Wainwright raised their price target on the stock from $29.00 to $32.00. The stock had previously closed at $18.02, but opened at $18.55. HC Wainwright currently has a buy rating on the stock. Oculis shares last traded at $18.35, with a volume of 2,721 shares changing hands.

Several other research firms have also commented on OCS. Robert W. Baird upped their price target on shares of Oculis from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, March 13th. Chardan Capital reiterated a “buy” rating and set a $28.00 price objective on shares of Oculis in a research report on Thursday.

Hedge Funds Weigh In On Oculis

Hedge funds have recently modified their holdings of the company. abrdn plc grew its holdings in Oculis by 23.0% during the fourth quarter. abrdn plc now owns 1,009,424 shares of the company’s stock worth $17,150,000 after acquiring an additional 188,871 shares during the period. Bank of America Corp DE raised its holdings in shares of Oculis by 58.2% in the 4th quarter. Bank of America Corp DE now owns 28,980 shares of the company’s stock worth $493,000 after purchasing an additional 10,667 shares in the last quarter. Citadel Advisors LLC bought a new stake in Oculis during the fourth quarter worth approximately $389,000. Bellevue Group AG acquired a new position in Oculis in the fourth quarter worth approximately $170,000. Finally, Geode Capital Management LLC lifted its position in shares of Oculis by 12.0% during the 4th quarter. Geode Capital Management LLC now owns 16,744 shares of the company’s stock valued at $284,000 after acquiring an additional 1,800 shares during the last quarter. 22.30% of the stock is currently owned by institutional investors and hedge funds.

Oculis Trading Up 0.7 %

The firm has a market capitalization of $792.03 million, a P/E ratio of -9.51 and a beta of 0.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.02 and a current ratio of 4.02. The firm has a 50 day moving average price of $18.94 and a two-hundred day moving average price of $17.90.

Oculis (NASDAQ:OCS) last released its quarterly earnings results on Tuesday, March 11th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.28). Oculis had a negative net margin of 8,043.28% and a negative return on equity of 71.31%. On average, equities research analysts expect that Oculis Holding AG will post -2.09 EPS for the current fiscal year.

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.