Oculis (NASDAQ:OCS) Given New $29.00 Price Target at Bank of America

Oculis (NASDAQ:OCS) had its price objective trimmed by Bank of America from $30.00 to $29.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

OCS has been the topic of a number of other reports. HC Wainwright increased their target price on shares of Oculis from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday. Chardan Capital reiterated a “buy” rating and issued a $51.00 price target on shares of Oculis in a research report on Tuesday. Wall Street Zen lowered Oculis from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Needham & Company LLC reiterated a “buy” rating and set a $36.00 price target on shares of Oculis in a report on Tuesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Oculis in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Oculis has a consensus rating of “Moderate Buy” and an average price target of $39.80.

Oculis Trading Up 1.6%

Shares of OCS traded up $0.31 during mid-day trading on Thursday, hitting $19.60. The company had a trading volume of 201,477 shares, compared to its average volume of 109,113. Oculis has a 1-year low of $14.00 and a 1-year high of $23.08. The business’s 50-day simple moving average is $19.20 and its 200-day simple moving average is $18.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.55.

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

Hedge Funds Weigh In On Oculis

A number of large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in Oculis by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 40,512 shares of the company’s stock valued at $786,000 after purchasing an additional 878 shares during the last quarter. Bosun Asset Management LLC bought a new stake in Oculis during the 2nd quarter worth approximately $378,000. Marshall Wace LLP acquired a new stake in Oculis during the 2nd quarter valued at approximately $393,000. Geode Capital Management LLC grew its position 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 buying an additional 6,384 shares during the period. Finally, Compagnie Lombard Odier SCmA grew its stake in Oculis by 11.5% in the second quarter. Compagnie Lombard Odier SCmA now owns 97,000 shares of the company’s stock valued at $1,883,000 after acquiring an additional 10,000 shares during the period. Institutional investors own 22.30% of the company’s stock.

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.