Oculis (NASDAQ:OCS) Hits New 12-Month High – Here’s Why

Oculis Holding AG (NASDAQ:OCS) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $29.36 and last traded at $29.03, with a volume of 293170 shares trading hands. The stock had previously closed at $28.45.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on OCS shares. Bank of America cut their price objective on Oculis from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Chardan Capital restated a “buy” rating and set a $51.00 price target on shares of Oculis in a report on Tuesday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Oculis in a research note on Tuesday, November 11th. Lifesci Capital initiated coverage on Oculis in a research report on Wednesday, December 3rd. They set an “outperform” rating and a $55.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Oculis in a report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Oculis currently has an average rating of “Moderate Buy” and an average price target of $41.50.

Oculis Price Performance

The firm has a market capitalization of $1.38 billion, a P/E ratio of -10.46 and a beta of 0.28. The company has a current ratio of 4.47, a quick ratio of 4.47 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $22.44 and a 200-day moving average price of $19.93.

Oculis (NASDAQ:OCS) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.10. The company had revenue of $0.31 million for the quarter, compared to analyst estimates of $0.23 million. Oculis had a negative return on equity of 80.82% and a negative net margin of 12,915.42%. On average, analysts expect that Oculis Holding AG will post -2.09 earnings per share for the current year.

Hedge Funds Weigh In On Oculis

Large investors have recently made changes to their positions in the company. Gildi lifeyrissjodur purchased a new stake in Oculis in the 4th quarter worth about $50,250,000. Woodline Partners LP grew its stake in shares of Oculis by 65.8% during the third quarter. Woodline Partners LP now owns 83,833 shares of the company’s stock valued at $1,474,000 after buying an additional 33,265 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Oculis by 2.2% in the second quarter. Bank of America Corp DE now owns 40,512 shares of the company’s stock worth $786,000 after buying an additional 878 shares during the period. Marshall Wace LLP purchased a new stake in shares of Oculis in the second quarter worth approximately $393,000. Finally, Geode Capital Management LLC lifted its stake in shares of Oculis by 27.7% during the 2nd quarter. Geode Capital Management LLC now owns 29,436 shares of the company’s stock worth $571,000 after acquiring an additional 6,384 shares during the last quarter. 22.30% of the stock is owned by hedge funds and other institutional investors.

About Oculis

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.