Oculis (NASDAQ:OCS) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Oculis (NASDAQ:OCS) in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm issued an overweight rating and a $38.00 price target on the stock.

Several other brokerages also recently issued reports on OCS. HC Wainwright boosted their price target on shares of Oculis from $36.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Wall Street Zen upgraded shares of Oculis from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Bank of America decreased their target price on shares of Oculis from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Chardan Capital restated a “buy” rating and issued a $51.00 price target on shares of Oculis in a research note on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Oculis in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Oculis presently has an average rating of “Moderate Buy” and a consensus target price of $41.50.

Oculis Stock Up 9.1%

NASDAQ:OCS opened at $21.25 on Friday. The company has a current ratio of 4.47, a quick ratio of 4.47 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average of $20.10 and a 200-day moving average of $18.87. The firm has a market capitalization of $1.11 billion, a PE ratio of -8.43 and a beta of 0.32. Oculis has a 52 week low of $14.00 and a 52 week high of $23.08.

Oculis (NASDAQ:OCS) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.10. The business had revenue of $0.31 million during the quarter, compared to analyst estimates of $0.23 million. Oculis had a negative return on equity of 80.82% and a negative net margin of 12,915.42%. Analysts predict that Oculis will post -2.09 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Woodline Partners LP increased its stake in shares of Oculis by 65.8% during the third quarter. Woodline Partners LP now owns 83,833 shares of the company’s stock valued at $1,474,000 after acquiring an additional 33,265 shares during the period. Bank of America Corp DE boosted its stake in Oculis by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 40,512 shares of the company’s stock valued at $786,000 after purchasing an additional 878 shares in the last quarter. Bosun Asset Management LLC acquired a new position in shares of Oculis during the 2nd quarter valued at $378,000. Marshall Wace LLP acquired a new position in shares of Oculis during the 2nd quarter valued at $393,000. Finally, Geode Capital Management LLC raised its stake in shares of Oculis by 27.7% in the 2nd quarter. Geode Capital Management LLC now owns 29,436 shares of the company’s stock worth $571,000 after buying an additional 6,384 shares in the last quarter. 22.30% of the stock is currently owned by institutional investors.

About Oculis

Oculis SA (NASDAQ: OCS) is a clinical-stage biopharmaceutical company focused on developing novel ophthalmic therapies designed primarily to treat retinal and neuro-ophthalmic diseases. Leveraging its proprietary technology platforms, Oculis aims to deliver therapeutic agents to the back of the eye through topical or nasal administration, potentially offering an alternative to current intravitreal injections. The company’s pipeline includes OCS-01, a topical dexamethasone formulation targeting diabetic macular edema; OCS-05, a neuroprotective candidate for acute optic neuritis and idiopathic intracranial hypertension; and OC-02, a nasal spray formulation of varenicline for dry eye disease.

Founded in 2016 and headquartered in Basel, Switzerland, Oculis operates research and development facilities across Europe and in the United States, with a presence in Cambridge, Massachusetts.