Oculis (NASDAQ:OCS) Issues Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Oculis (NASDAQ:OCS) issued its quarterly earnings data on Monday. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.10, Zacks reports. Oculis had a negative net margin of 13,958.12% and a negative return on equity of 90.31%. The business had revenue of $0.31 million during the quarter, compared to the consensus estimate of $0.23 million.

Oculis Price Performance

OCS traded down $0.02 during trading on Tuesday, hitting $19.40. 162,256 shares of the company traded hands, compared to its average volume of 50,249. The company has a market cap of $1.02 billion, a PE ratio of -7.27 and a beta of 0.29. Oculis has a 1 year low of $14.00 and a 1 year high of $23.08. The company has a current ratio of 4.55, a quick ratio of 4.55 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $18.99 and its two-hundred day simple moving average is $18.60.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Chardan Capital reaffirmed a “buy” rating and set a $51.00 price target on shares of Oculis in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 target price on shares of Oculis in a research report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Oculis in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Oculis from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Finally, HC Wainwright raised their price objective on shares of Oculis from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Institutional Investors Weigh In On Oculis

Several large investors have recently bought and sold shares of the business. Marshall Wace LLP bought a new position in shares of Oculis during the 2nd quarter worth $393,000. Geode Capital Management LLC lifted its stake in Oculis by 27.7% in the second quarter. Geode Capital Management LLC now owns 29,436 shares of the company’s stock worth $571,000 after acquiring an additional 6,384 shares during the period. Finally, Bank of America Corp DE grew its holdings in Oculis by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 40,512 shares of the company’s stock worth $786,000 after acquiring an additional 878 shares in the last quarter. Institutional investors 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.