Chardan Capital Reaffirms Buy Rating for Oculis (NASDAQ:OCS)

Oculis (NASDAQ:OCS)‘s stock had its “buy” rating restated by Chardan Capital in a note issued to investors on Thursday,Benzinga reports. They presently have a $28.00 price target on the stock. Chardan Capital’s price target points to a potential upside of 49.17% from the company’s current price.

Separately, HC Wainwright reduced their price objective on Oculis from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday.

Oculis Stock Performance

Shares of Oculis stock opened at $18.77 on Thursday. The stock has a market cap of $760.26 million, a PE ratio of -9.73 and a beta of 0.02. The business has a fifty day simple moving average of $20.89 and a 200-day simple moving average of $16.89. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 0.01. Oculis has a 12 month low of $10.55 and a 12 month high of $23.08.

Oculis (NASDAQ:OCS) last released its quarterly earnings data 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 net margin of 8,043.28% and a negative return on equity of 71.31%. On average, sell-side analysts anticipate that Oculis will post -2.09 EPS for the current fiscal year.

Institutional Trading of Oculis

Institutional investors and hedge funds have recently made changes to their positions in the stock. abrdn plc increased its stake in shares of Oculis by 23.0% in the fourth quarter. abrdn plc now owns 1,009,424 shares of the company’s stock worth $17,150,000 after purchasing an additional 188,871 shares during the period. Citadel Advisors LLC bought a new position in shares of Oculis in the fourth quarter worth about $389,000. XTX Topco Ltd bought a new position in shares of Oculis in the fourth quarter worth about $225,000. Bank of America Corp DE increased its stake 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 worth $493,000 after purchasing an additional 10,667 shares during the period. Finally, Bellevue Group AG bought a new position in shares of Oculis in the fourth quarter worth about $170,000. Institutional investors and hedge funds 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.