Oculis (NASDAQ:OCS) Posts Earnings Results, Beats Expectations By $0.28 EPS

Oculis (NASDAQ:OCS) posted its earnings results on Thursday. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.28, FiscalAI reports. Oculis had a negative net margin of 6,777.18% and a negative return on equity of 45.58%. The business had revenue of $0.38 million during the quarter, compared to the consensus estimate of $0.22 million.

Oculis Stock Performance

OCS stock traded up $0.30 during midday trading on Friday, hitting $12.68. 370,877 shares of the stock traded hands, compared to its average volume of 314,551. The firm has a market cap of $735.19 million, a P/E ratio of -7.29 and a beta of 0.51. Oculis has a 1-year low of $10.52 and a 1-year high of $34.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.18 and a quick ratio of 5.18. The stock’s fifty day simple moving average is $12.17 and its 200-day simple moving average is $22.31.

Institutional Investors Weigh In On Oculis

Several institutional investors and hedge funds have recently added to or reduced their stakes in OCS. Bank of America Corp DE boosted its position in Oculis by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 40,512 shares of the company’s stock valued at $786,000 after buying an additional 878 shares during the period. Geode Capital Management LLC boosted its holdings in Oculis by 27.7% in the second quarter. Geode Capital Management LLC now owns 29,436 shares of the company’s stock valued at $571,000 after purchasing an additional 6,384 shares during the period. Millennium Management LLC acquired a new position in Oculis during the 4th quarter worth $312,000. Marshall Wace LLP acquired a new position in Oculis during the 2nd quarter worth $393,000. Finally, Renaissance Technologies LLC purchased a new stake in Oculis during the 4th quarter worth about $499,000. Institutional investors and hedge funds own 22.30% of the company’s stock.

Analyst Upgrades and Downgrades

OCS has been the topic of several research analyst reports. Robert W. Baird lowered their price objective on Oculis from $49.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, June 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Oculis in a research note on Friday, July 17th. Needham & Company LLC dropped their target price on Oculis from $46.00 to $38.00 and set a “buy” rating for the company in a report on Monday, June 1st. Stifel Nicolaus cut their price target on shares of Oculis from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Finally, Wall Street Zen upgraded Oculis from a “strong sell” rating to a “sell” rating in a research note on Saturday. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.33.

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.