Oculis (NASDAQ:OCS) Given New $20.00 Price Target at Bank of America

Oculis (NASDAQ:OCSGet Free Report) had its target price dropped by investment analysts at Bank of America from $21.00 to $20.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 66.67% from the company’s previous close.

A number of other brokerages have also recently commented on OCS. HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of Oculis in a report on Thursday, May 30th. Robert W. Baird decreased their price target on Oculis from $64.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday, March 19th. Wedbush reissued an “outperform” rating and set a $29.00 price target on shares of Oculis in a research note on Wednesday, March 6th. Finally, Chardan Capital reissued a “buy” rating and set a $30.00 price target on shares of Oculis in a research note on Tuesday, March 19th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $30.17.

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Oculis Stock Up 1.3 %

Shares of OCS opened at $12.00 on Tuesday. The business’s 50 day moving average is $11.95 and its 200 day moving average is $11.73. The company has a market capitalization of $486 million, a PE ratio of -6.74 and a beta of 0.31. Oculis has a 12-month low of $9.05 and a 12-month high of $14.50. The company has a current ratio of 4.71, a quick ratio of 4.71 and a debt-to-equity ratio of 0.01.

Oculis (NASDAQ:OCSGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.03). The business had revenue of $0.22 million for the quarter, compared to the consensus estimate of $0.28 million. Oculis had a negative net margin of 6,712.02% and a negative return on equity of 52.72%. Research analysts expect that Oculis will post -1.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Searle & CO. purchased a new position in Oculis during the 4th quarter worth $112,000. abrdn plc purchased a new stake in Oculis during the 4th quarter valued at about $15,980,000. Compagnie Lombard Odier SCmA grew its stake 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 purchasing an additional 30,750 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in Oculis during the 3rd quarter valued at about $77,000. 22.30% of the stock is currently owned by hedge funds and other institutional investors.

About Oculis

(Get Free Report)

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.

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