Needham & Company LLC Cuts Oculis (NASDAQ:OCS) Price Target to $38.00

Oculis (NASDAQ:OCS) had its price objective cut by investment analysts at Needham & Company LLC from $46.00 to $38.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 67.39% from the stock’s previous close.

Several other research firms have also recently commented on OCS. HC Wainwright raised their target price on shares of Oculis from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Guggenheim began coverage on shares of Oculis in a research report on Wednesday, May 20th. They issued a “buy” rating and a $75.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of Oculis from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oculis in a research report on Tuesday, April 21st. Finally, Stifel Nicolaus raised their target price on shares of Oculis from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Oculis presently has a consensus rating of “Moderate Buy” and an average price target of $45.75.

Oculis Trading Down 0.0%

Shares of OCS opened at $22.70 on Monday. The stock has a market capitalization of $1.32 billion, a P/E ratio of -10.66 and a beta of 0.23. The company has a quick ratio of 5.18, a current ratio of 5.18 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $27.68 and a two-hundred day simple moving average of $25.21. Oculis has a twelve month low of $16.00 and a twelve month high of $34.47.

Oculis (NASDAQ:OCS) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.14). The firm had revenue of $0.26 million for the quarter, compared to analysts’ expectations of $0.25 million. Oculis had a negative net margin of 8,460.67% and a negative return on equity of 56.78%. On average, research analysts anticipate that Oculis will post -2.21 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in 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 last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Oculis by 100.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $40,000 after buying an additional 1,000 shares during the last quarter. Aventura Private Wealth LLC purchased a new position in Oculis in the fourth quarter worth about $80,000. Geode Capital Management LLC raised its holdings in Oculis by 27.7% in the second quarter. Geode Capital Management LLC now owns 29,436 shares of the company’s stock worth $571,000 after buying an additional 6,384 shares during the last quarter. Finally, Koshinski Asset Management Inc. purchased a new position in Oculis in the first quarter worth about $238,000. 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.