Oculis (NASDAQ:OCS) Issues Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Oculis (NASDAQ:OCS) released its quarterly earnings data on Monday. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.10, Zacks reports. Oculis had a negative net margin of 13,958.12% and a negative return on equity of 90.31%.

Oculis Price Performance

Shares of NASDAQ:OCS traded up $0.22 during trading on Monday, reaching $19.45. The company had a trading volume of 151,300 shares, compared to its average volume of 49,630. The firm’s fifty day moving average is $18.92 and its 200 day moving average is $18.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.55 and a current ratio of 4.55. The firm has a market capitalization of $1.02 billion, a PE ratio of -7.28 and a beta of 0.29. Oculis has a twelve month low of $14.00 and a twelve month high of $23.08.

Analyst Ratings Changes

OCS has been the topic of a number of recent research reports. Chardan Capital raised their price target on shares of Oculis from $33.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Needham & Company LLC began coverage on shares of Oculis in a report on Wednesday, August 27th. They issued a “buy” rating and a $36.00 target price on the stock. HC Wainwright upped their target price on Oculis from $33.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Oculis in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered Oculis from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Hedge Funds Weigh In On Oculis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of Oculis by 2.2% in the 2nd 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 in the last quarter. Geode Capital Management LLC grew its holdings in Oculis by 27.7% during the second 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 period. Finally, Marshall Wace LLP bought a new stake in Oculis in the second quarter worth about $393,000. 22.30% of the stock is owned by institutional investors.

About Oculis

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.