Oculis (NASDAQ:OCS) Stock Price Target Lowered at Guggenheim

Oculis (NASDAQ:OCS) had its price target decreased by Guggenheim to $40.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim‘s price target indicates a potential upside of 442.37% from the company’s previous close.

A number of other equities research analysts have also recently commented on OCS. HC Wainwright reissued a “buy” rating and set a $39.00 price target on shares of Oculis in a report on Wednesday, October 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oculis in a research report on Thursday, October 15th. Wall Street Zen raised shares of Oculis from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Oculis from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, August 14th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.89.

Oculis Price Performance

NASDAQ OCS traded down $0.26 on Wednesday, reaching $7.38. 69,927 shares of the company’s stock traded hands, compared to its average volume of 418,116. The stock has a 50-day simple moving average of $9.53 and a 200 day simple moving average of $18.62. The stock has a market cap of $427.60 million, a PE ratio of -4.26 and a beta of 0.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.35 and a quick ratio of 8.35. Oculis has a 12 month low of $7.11 and a 12 month high of $34.47.

Oculis (NASDAQ:OCS) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.10. Oculis had a negative net margin of 6,777.18% and a negative return on equity of 42.61%. The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.26 million. As a group, research analysts predict that Oculis will post -2.01 earnings per share for the current year.

Institutional Investors Weigh In On Oculis

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its position in 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 period. China Universal Asset Management Co. Ltd. purchased a new position in Oculis in the third quarter valued at about $74,000. Koshinski Asset Management Inc. acquired a new stake in shares of Oculis in the first quarter valued at about $238,000. Himension Capital Singapore PTE. LTD. purchased a new stake in shares of Oculis during the 1st quarter valued at about $503,000. Finally, Alps Advisors Inc. lifted its position in Oculis by 40.7% during the 3rd quarter. Alps Advisors Inc. now owns 81,619 shares of the company’s stock worth $762,000 after acquiring an additional 23,600 shares in the last quarter. 22.30% of the stock is owned by institutional investors and hedge funds.

Oculis Company Profile

Oculis is a global biopharmaceutical company focused on developing innovative treatments for eye diseases. The company’s research is centered on therapies that can be administered directly to the eye, including topical ophthalmic formulations and other approaches designed to improve drug delivery, efficacy, and patient convenience.

Oculis has developed a pipeline addressing ophthalmic conditions such as retinal diseases, diabetic macular edema, dry eye disease, and other disorders that can impair vision.