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

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

Oculis Stock Performance

Shares of NASDAQ OCS traded up $0.30 during mid-day trading on Friday, reaching $12.68. 370,877 shares of the company’s stock were exchanged, compared to its average volume of 314,551. The firm has a 50-day moving average price of $12.17 and a two-hundred day moving average price of $22.31. 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 firm has a market capitalization of $735.19 million, a price-to-earnings ratio of -7.29 and a beta of 0.51. Oculis has a 52 week low of $10.52 and a 52 week high of $34.47.

Institutional Trading of Oculis

A number of large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in shares of 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 acquiring an additional 878 shares during the period. Geode Capital Management LLC raised its holdings 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 purchasing an additional 6,384 shares during the period. Millennium Management LLC bought a new stake in shares of Oculis in the 4th quarter worth approximately $312,000. Marshall Wace LLP bought a new position in Oculis during the second quarter valued at $393,000. Finally, Renaissance Technologies LLC bought a new position in Oculis during the fourth quarter valued at $499,000. Hedge funds and other institutional investors own 22.30% of the company’s stock.

Analysts Set New Price Targets

OCS has been the subject of a number of research analyst reports. Robert W. Baird decreased their target price on Oculis from $49.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday, June 1st. Needham & Company LLC reduced their price objective on shares of Oculis from $46.00 to $38.00 and set a “buy” rating for the company in a report on Monday, June 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Oculis in a research report on Friday, July 17th. Stifel Nicolaus lowered their target price 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, JPMorgan Chase & Co. dropped their price target on shares of Oculis from $42.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 3rd. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.