HC Wainwright Cuts Oculis (NASDAQ:OCS) Price Target to $28.00

Oculis (NASDAQ:OCS) had its target price decreased by equities research analysts at HC Wainwright from $29.00 to $28.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 134.31% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Robert W. Baird cut their target price on shares of Oculis from $64.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, March 19th. Chardan Capital reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Oculis in a report on Tuesday, March 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $29.00 price objective on shares of Oculis in a research report on Wednesday, March 6th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $29.14.

Oculis Stock Down 0.3 %

NASDAQ OCS opened at $11.95 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.29 and a quick ratio of 5.29. The stock’s fifty day moving average price is $11.88 and its 200 day moving average price is $11.23. Oculis has a 1 year low of $9.05 and a 1 year high of $14.50.

Oculis (NASDAQ:OCS) last released its earnings results on Monday, March 18th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.04. The firm had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.28 million. As a group, analysts anticipate that Oculis will post -1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Oculis

Hedge funds have recently modified their holdings of the company. abrdn plc purchased a new position in Oculis during the fourth quarter worth about $15,980,000. Compagnie Lombard Odier SCmA grew its position in Oculis by 47.3% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 95,750 shares of the company’s stock worth $1,053,000 after acquiring an additional 30,750 shares during the period. Searle & CO. acquired a new stake in Oculis during the fourth quarter worth $112,000. Wolverine Asset Management LLC acquired a new stake in Oculis during the third quarter worth $77,000. Finally, Barclays PLC purchased a new stake in Oculis in the second quarter valued at $44,000. Hedge funds and other institutional investors own 22.30% of the company’s stock.

Oculis Company Profile

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.