Oculis (NASDAQ:OCS) Stock Price Down 9.6% After Analyst Downgrade

Shares of Oculis Holding AG (NASDAQ:OCS) dropped 9.6% during mid-day trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $42.00 to $23.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Oculis traded as low as $12.06 and last traded at $11.8770. Approximately 241,820 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 476,665 shares. The stock had previously closed at $13.14.

Several other equities analysts have also weighed in on the company. Guggenheim cut their target price on Oculis from $75.00 to $45.00 and set a “buy” rating on the stock in a report on Monday. Wall Street Zen cut Oculis from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Needham & Company LLC reduced their price objective on shares of Oculis from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oculis in a report on Tuesday, April 21st. Finally, HC Wainwright decreased their price target on shares of Oculis from $47.00 to $26.00 and set a “buy” rating for the company in a report on Monday. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

Hedge Funds Weigh In On Oculis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OCS. Bank of America Corp DE grew its position in shares of Oculis by 9.1% during the 1st quarter. Bank of America Corp DE now owns 69,764 shares of the company’s stock worth $1,855,000 after buying an additional 5,813 shares during the period. Himension Capital Singapore PTE. LTD. acquired a new stake in shares of Oculis in the 1st quarter valued at approximately $503,000. Koshinski Asset Management Inc. bought a new position in Oculis during the 1st quarter worth approximately $238,000. Y Intercept Hong Kong Ltd acquired a new position in Oculis during the first quarter valued at approximately $776,000. Finally, Perceptive Advisors LLC acquired a new position in Oculis during the fourth quarter valued at approximately $9,862,000. Institutional investors own 22.30% of the company’s stock.

Oculis Price Performance

The company’s 50 day simple moving average is $26.98 and its 200 day simple moving average is $25.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.18 and a quick ratio of 5.18. The stock has a market cap of $679.58 million, a P/E ratio of -5.55 and a beta of 0.23.

Oculis (NASDAQ:OCS) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.14). Oculis had a negative net margin of 8,460.67% and a negative return on equity of 56.78%. The firm had revenue of $0.26 million during the quarter, compared to analyst estimates of $0.25 million. As a group, equities analysts forecast that Oculis Holding AG will post -2.23 earnings per share for the current year.

Oculis Company Profile

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.