In a research report sent to investors on Friday morning, Maxim Group initiated coverage on shares of Oculus Innovative Sciences (NASDAQ:OCLS). The firm issued a buy rating and a $3.00 price target on the stock.

OCLS has dropped 9.43% during the past week. However, the shares have posted positive gains of 54.84% in the last 4 weeks.

Although the shares have underperformed the S&P 500 by 9.07% during the past week, OCLS has outperformed the index in 4 weeks by 55.27%.

OCLS is a global healthcare company that designs, produces, and markets prescription and non-prescription products in over 20 countries.

The company’s market cap is $21.67 million and focus is on the commercialization of its technology platform called Microcyn Technology, which is based on electrically charged oxychlorine small molecules designed to target a wide range of organisms that cause disease.

The technology products of the company outside the US have a CE Mark device approval in Europe. The mark is for debriding, irrigating and moistening acute and chronic wounds in comprehensive wound treatment.

The company is approved as a drug for antiseptic in Mexico. Its technology has a drug license for cleaning and debriding in wound management in India. It has obtained a medical device approval by the State FDA in China for reducing the propagation of microbes in wounds and creating a moist environment for wound healing.

Currently, the company Insiders own 8.15% of Oculus Innovative Sciences, Inc. Company shares. Institutional Investors own 10.2% of Company shares.

On Friday, Oculus Innovative Sciences opened at 1.44 on Friday. The company has a 52 week low of $0.65 and a 52 week high of $3.22.