Oculis (NASDAQ:OCS) Shares Gap Up – Still a Buy?

Shares of Oculis Holding AG (NASDAQ:OCS) gapped up prior to trading on Friday. The stock had previously closed at $9.41, but opened at $9.71. Oculis shares last traded at $9.3350, with a volume of 16,034 shares trading hands.

Analyst Ratings Changes

OCS has been the topic of a number of research reports. Guggenheim decreased their target price on shares of Oculis from $75.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oculis in a report on Friday, July 17th. Wall Street Zen upgraded Oculis from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Robert W. Baird lowered their price objective on Oculis from $49.00 to $38.00 and set an “outperform” rating on the stock in a research note on Monday, June 1st. Finally, HC Wainwright upped their target price on Oculis from $26.00 to $39.00 and gave the company a “buy” rating in a report on Friday, September 18th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Oculis has an average rating of “Moderate Buy” and an average price target of $39.44.

Oculis Price Performance

The firm has a market cap of $540.70 million, a price-to-earnings ratio of -5.35 and a beta of 0.52. The company has a current ratio of 8.35, a quick ratio of 8.35 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average price is $11.80 and its 200-day moving average price is $18.39.

Oculis (NASDAQ:OCS) last issued its quarterly earnings data on Tuesday, June 30th. The company reported ($0.20) earnings per share for the quarter. The business had revenue of $0.38 million during the quarter. Oculis had a negative return on equity of 42.61% and a negative net margin of 6,777.18%. As a group, equities research analysts forecast that Oculis Holding AG will post -2.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oculis

A number of hedge funds have recently modified their holdings of OCS. Braidwell LP acquired a new stake in shares of Oculis during the 2nd quarter worth about $11,570,000. Folketrygdfondet purchased a new position in Oculis during the fourth quarter worth about $3,651,000. Propel Bio Management LLC purchased a new position in Oculis during the fourth quarter worth about $3,452,000. NEXTBio Capital Management LP acquired a new stake in shares of Oculis during the fourth quarter valued at about $2,991,000. Finally, Bank of America Corp DE increased its position in shares of Oculis by 9.1% during the first quarter. Bank of America Corp DE now owns 69,764 shares of the company’s stock valued at $1,855,000 after acquiring an additional 5,813 shares during the last quarter. 22.30% of the stock is currently owned by hedge funds and other institutional investors.

Oculis Company Profile

Oculis is a clinical-stage biopharmaceutical company focused on developing ophthalmic therapies for eye diseases and vision loss. The company uses proprietary drug-delivery technologies designed to improve the delivery of treatments to specific tissues in the eye, with the goal of offering effective and convenient alternatives to injections or other invasive procedures.

Oculis’ pipeline includes OCS-01, a topical eye-drop formulation of dexamethasone being developed for diabetic macular edema and inflammation following ocular surgery.