Guggenheim Upgrades Oculis (NASDAQ:OCS) to Strong-Buy

Oculis (NASDAQ:OCS) was upgraded by investment analysts at Guggenheim to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Several other research firms have also recently issued reports on OCS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oculis in a research report on Tuesday, April 21st. Wall Street Zen downgraded shares of Oculis from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Stifel Nicolaus upped their price objective on shares of Oculis from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Needham & Company LLC upped their price objective on shares of Oculis from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Oculis from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Oculis presently has an average rating of “Moderate Buy” and a consensus target price of $49.38.

Oculis Price Performance

Oculis stock opened at $31.00 on Wednesday. The stock has a market cap of $1.80 billion, a P/E ratio of -14.55 and a beta of 0.38. The company has a fifty day simple moving average of $27.44 and a 200-day simple moving average of $24.83. Oculis has a 12-month low of $16.00 and a 12-month high of $34.47. The company has a current ratio of 5.18, a quick ratio of 5.18 and a debt-to-equity ratio of 0.01.

Oculis (NASDAQ:OCS) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.63) earnings per share (EPS) 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 return on equity of 56.78% and a negative net margin of 8,460.67%. Equities analysts expect that Oculis will post -2.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Oculis

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its holdings in shares of Oculis by 9.1% in the first quarter. Bank of America Corp DE now owns 69,764 shares of the company’s stock valued at $1,855,000 after buying an additional 5,813 shares during the last quarter. Himension Capital Singapore PTE. LTD. purchased a new stake in shares of Oculis in the first quarter valued at about $503,000. Koshinski Asset Management Inc. purchased a new stake in shares of Oculis in the first quarter valued at about $238,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Oculis in the first quarter valued at about $776,000. Finally, Perceptive Advisors LLC purchased a new stake in shares of Oculis in the fourth quarter valued at about $9,862,000. 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.