HC Wainwright Issues Pessimistic Forecast for Oculis (NASDAQ:OCS) Stock Price

Oculis (NASDAQ:OCS - Get Free Report) had its price objective cut by HC Wainwright from $30.00 to $29.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price objective would indicate a potential upside of 53.93% from the company's previous close.

Separately, Chardan Capital reaffirmed a "buy" rating and issued a $28.00 target price on shares of Oculis in a research report on Tuesday, January 7th.

Oculis Stock Up 2.4 %

OCS stock opened at $18.84 on Thursday. Oculis has a one year low of $10.55 and a one year high of $23.08. The firm's 50 day moving average price is $20.82 and its 200-day moving average price is $16.86. The firm has a market cap of $763.10 million, a PE ratio of -9.76 and a beta of 0.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.02 and a current ratio of 4.02.

Oculis (NASDAQ:OCS - Get Free Report) 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 net margin of 8,043.28% and a negative return on equity of 71.31%. On average, equities research analysts anticipate that Oculis will post -2.09 EPS for the current year.

Institutional Investors Weigh In On Oculis

Several large investors have recently bought and sold shares of the stock. abrdn plc grew its holdings in Oculis by 23.0% during the 4th quarter. abrdn plc now owns 1,009,424 shares of the company's stock worth $17,150,000 after acquiring an additional 188,871 shares in the last quarter. Bank of America Corp DE lifted its holdings in Oculis by 58.2% during the 4th quarter. Bank of America Corp DE now owns 28,980 shares of the company's stock worth $493,000 after buying an additional 10,667 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Oculis during the 4th quarter worth about $389,000. Geode Capital Management LLC increased its stake in Oculis by 12.0% in 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. Finally, XTX Topco Ltd purchased a new position in shares of Oculis during the fourth quarter worth about $225,000. Hedge funds and other institutional investors own 22.30% of the company's stock.

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.

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