Analysts Set Ocugen, Inc. (NASDAQ:OCGN) Price Target at $9.00

Ocugen, Inc. (NASDAQ:OCGNGet Free Report) has earned a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $9.00.

A number of equities analysts recently issued reports on OCGN shares. Oppenheimer began coverage on shares of Ocugen in a research note on Wednesday, March 11th. They issued an “outperform” rating and a $10.00 price target on the stock. Canaccord Genuity Group began coverage on shares of Ocugen in a report on Tuesday, March 17th. They issued a “buy” rating and a $12.00 target price for the company. Chardan Capital reiterated a “buy” rating and issued a $7.00 target price on shares of Ocugen in a research note on Thursday, March 5th. Wall Street Zen upgraded shares of Ocugen from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Ocugen in a research report on Thursday, January 22nd.

Check Out Our Latest Research Report on Ocugen

More Ocugen News

Here are the key news stories impacting Ocugen this week:

Ocugen Stock Down 8.9%

Shares of NASDAQ:OCGN opened at $2.04 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 8.04. The stock has a fifty day simple moving average of $1.73 and a two-hundred day simple moving average of $1.51. Ocugen has a 12-month low of $0.56 and a 12-month high of $2.72. The stock has a market capitalization of $668.92 million, a price-to-earnings ratio of -8.87 and a beta of 2.75.

Ocugen (NASDAQ:OCGNGet Free Report) last released its earnings results on Wednesday, March 4th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). Ocugen had a negative return on equity of 2,626.38% and a negative net margin of 1,192.18%.The firm had revenue of ($0.19) million for the quarter, compared to analysts’ expectations of $0.86 million. On average, research analysts anticipate that Ocugen will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Ocugen

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cora Capital Advisors LLC raised its stake in shares of Ocugen by 27.5% in the fourth quarter. Cora Capital Advisors LLC now owns 30,143 shares of the company’s stock worth $41,000 after purchasing an additional 6,500 shares during the last quarter. Jain Global LLC boosted its position in shares of Ocugen by 7.2% during the fourth quarter. Jain Global LLC now owns 114,690 shares of the company’s stock valued at $155,000 after buying an additional 7,686 shares during the last quarter. Lanham O Dell & Company Inc. boosted its position in shares of Ocugen by 7.7% during the third quarter. Lanham O Dell & Company Inc. now owns 140,000 shares of the company’s stock valued at $228,000 after buying an additional 10,000 shares during the last quarter. Procyon Advisors LLC increased its holdings in Ocugen by 5.5% in the 3rd quarter. Procyon Advisors LLC now owns 211,100 shares of the company’s stock worth $344,000 after buying an additional 11,000 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Ocugen by 56.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company’s stock worth $36,000 after buying an additional 13,326 shares in the last quarter. Institutional investors own 10.27% of the company’s stock.

Ocugen Company Profile

(Get Free Report)

Ocugen Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing gene therapies to treat rare inherited retinal diseases, as well as vaccines designed to address unmet needs in infectious diseases. Headquartered in Malvern, Pennsylvania, the company applies its proprietary gene therapy platform to create novel treatments aimed at preserving and restoring vision, while leveraging strategic partnerships to broaden its vaccine pipeline.

In its gene therapy portfolio, Ocugen is advancing multiple programs targeting retinal disorders.

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Analyst Recommendations for Ocugen (NASDAQ:OCGN)

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