HC Wainwright Cuts Oculis (NASDAQ:OCS) Price Target to $28.00

Oculis (NASDAQ:OCS) had its target price trimmed by HC Wainwright from $29.00 to $28.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage 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 research firms have also recently commented on OCS. Chardan Capital reissued a buy rating and issued a $30.00 target price on shares of Oculis in a research note on Tuesday, March 19th. Robert W. Baird reduced their target price on Oculis from $64.00 to $35.00 and set an outperform rating on the stock in a research note on Tuesday, March 19th. Finally, Wedbush reissued an outperform rating and issued a $29.00 target price on shares of Oculis in a research note on Wednesday, March 6th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Oculis currently has a consensus rating of Buy and an average price target of $29.14.

Oculis Trading Up 0.6 %

Oculis stock opened at $12.02 on Wednesday. Oculis has a fifty-two week low of $9.05 and a fifty-two week high of $14.50. The firm’s fifty day moving average price is $11.86 and its 200-day moving average price is $11.23. The company has a quick ratio of 5.29, a current ratio of 5.29 and a debt-to-equity ratio of 0.01.

Oculis (NASDAQ:OCS) last released its 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 firm had revenue of $0.21 million during the quarter, compared to the consensus estimate of $0.28 million. As a group, analysts forecast that Oculis will post -1.75 earnings per share for the current year.

Institutional Trading of Oculis

A number of institutional investors have recently modified their holdings of the company. Searle & CO. bought a new stake in Oculis during the 4th quarter valued at approximately $112,000. abrdn plc bought a new stake in Oculis during the 4th quarter valued at approximately $15,980,000. Compagnie Lombard Odier SCmA boosted its position 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 acquiring an additional 30,750 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in Oculis during the 3rd quarter valued at approximately $77,000. Finally, Barclays PLC bought a new stake in Oculis during the 2nd quarter valued at approximately $44,000. 22.30% of the stock is currently owned by hedge funds and other institutional investors.

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.