Oculis (NASDAQ:OCS) Given New $29.00 Price Target at HC Wainwright

Oculis (NASDAQ:OCS) had its price objective lowered by HC Wainwright from $30.00 to $29.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Chardan Capital reiterated a “buy” rating and set a $28.00 price target on shares of Oculis in a research note on Tuesday, January 7th.

Oculis Stock Up 0.4 %

Shares of NASDAQ:OCS opened at $18.77 on Thursday. The business has a fifty day simple moving average of $20.92 and a 200 day simple moving average of $16.97. Oculis has a 12-month low of $10.55 and a 12-month high of $23.08. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 0.01. The firm has a market cap of $760.26 million, a P/E ratio of -9.73 and a beta of 0.02.

Oculis (NASDAQ:OCS) last issued its earnings results on Tuesday, March 11th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate 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%. Analysts predict that Oculis will post -2.09 earnings per share for the current year.

Hedge Funds Weigh In On Oculis

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