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

Oculis Holding AG (NASDAQ:OCS - Get Free Report)'s stock price 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 trading hands.

A number of other research analysts have also recently commented on the stock. Robert W. Baird increased their price target on shares of Oculis from $37.00 to $41.00 and gave the company an "outperform" rating in a research report on Thursday, March 13th. Chardan Capital restated a "buy" rating and set a $28.00 price target on shares of Oculis in a research report on Thursday, April 17th.

Institutional Investors Weigh In On Oculis

Large investors have recently made changes to their positions in the business. abrdn plc lifted its stake in 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 acquiring an additional 188,871 shares during the period. Bank of America Corp DE lifted its position in Oculis by 58.2% during the 4th quarter. Bank of America Corp DE now owns 28,980 shares of the company's stock valued at $493,000 after acquiring an additional 10,667 shares during the period. Citadel Advisors LLC purchased a new stake in Oculis in the fourth quarter worth about $389,000. Bellevue Group AG bought a new position in shares of Oculis during the fourth quarter valued at approximately $170,000. Finally, Geode Capital Management LLC lifted its holdings in shares of 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. 22.30% of the stock is currently owned by institutional investors.

Oculis Price Performance

The firm has a 50 day moving average of $18.76 and a two-hundred day moving average of $18.09. The company has a market cap of $772.38 million, a PE ratio of -9.17 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.

Oculis (NASDAQ:OCS - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Research analysts predict that Oculis Holding AG will post -2.09 earnings per share for the current fiscal year.

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.