Oculis (NASDAQ:OCS) Shares Gap Up on Analyst Upgrade

Shares of Oculis Holding AG (NASDAQ:OCS) gapped up before the market opened on Thursday after HC Wainwright raised their price target on the stock from $29.00 to $32.00. The stock had previously closed at $18.02, but opened at $18.55. HC Wainwright currently has a buy rating on the stock. Oculis shares last traded at $18.35, with a volume of 2,721 shares traded.

Other equities research analysts also recently issued research reports about the stock. Chardan Capital reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Oculis in a report on Thursday. Robert W. Baird raised their price objective on shares of Oculis from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, March 13th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bellevue Group AG bought a new position in shares of Oculis during the 4th quarter valued at about $170,000. XTX Topco Ltd bought a new stake in shares of Oculis in the 4th quarter worth approximately $225,000. Geode Capital Management LLC lifted its stake in Oculis by 12.0% during the fourth quarter. Geode Capital Management LLC now owns 16,744 shares of the company’s stock valued at $284,000 after purchasing an additional 1,800 shares during the last quarter. Citadel Advisors LLC acquired a new position in Oculis in the fourth quarter worth approximately $389,000. Finally, Bank of America Corp DE increased its holdings in shares of Oculis by 58.2% in the fourth quarter. Bank of America Corp DE now owns 28,980 shares of the company’s stock valued at $493,000 after buying an additional 10,667 shares in the last quarter. 22.30% of the stock is owned by institutional investors and hedge funds.

Oculis Price Performance

The company has a market cap of $797.70 million, a price-to-earnings ratio of -9.47 and a beta of 0.19. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $18.87 and a 200 day moving average price of $17.94.

Oculis (NASDAQ:OCS) last announced its earnings results on Tuesday, March 11th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.28). Oculis had a negative return on equity of 71.31% and a negative net margin of 8,043.28%. As a group, research analysts expect that Oculis Holding AG will post -2.09 earnings per share for the current fiscal year.

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.