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

Oculis (NASDAQ:OCS) had its price target decreased 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 presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 80.53% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the company. Stifel Nicolaus lowered their price target on Oculis from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday. 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 report on Monday. Wall Street Zen cut Oculis from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Guggenheim cut their price target on Oculis from $75.00 to $45.00 and set a “buy” rating for the company in a research note on Monday. Finally, Robert W. Baird cut their target price on Oculis from $49.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Oculis Trading Up 3.7%

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

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). Oculis had a negative net margin of 8,460.67% and a negative return on equity of 56.78%. The firm had revenue of $0.26 million during the quarter, compared to analyst estimates of $0.25 million. Research analysts predict that Oculis will post -2.21 earnings per share for the current fiscal year.

Institutional Trading of Oculis

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. lifted its position in Oculis by 100.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $40,000 after acquiring an additional 1,000 shares in the last quarter. Aventura Private Wealth LLC bought a new position in shares of Oculis during the 4th quarter worth approximately $80,000. Koshinski Asset Management Inc. bought a new position in shares of Oculis during the 1st quarter worth approximately $238,000. Millennium Management LLC purchased a new stake in shares of Oculis during the 4th quarter worth approximately $312,000. Finally, Marshall Wace LLP bought a new stake in shares of Oculis in the 2nd quarter worth approximately $393,000. 22.30% of the stock is currently owned by institutional investors and hedge funds.

Oculis Company Profile

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.