Ocugen, Inc. (NASDAQ:OCGN) Receives Average Rating of “Moderate Buy” from Analysts

Ocugen, Inc. (NASDAQ:OCGN) has been assigned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $9.50.

A number of analysts have recently commented on OCGN shares. HC Wainwright boosted their price target on Ocugen from $7.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, March 25th. Wall Street Zen raised Ocugen from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Oppenheimer started coverage on Ocugen in a research report on Wednesday, March 11th. They set an “outperform” rating and a $10.00 price target on the stock. Chardan Capital reissued a “buy” rating and set a $7.00 price target on shares of Ocugen in a research report on Wednesday, March 25th. Finally, Weiss Ratings downgraded Ocugen from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 18th.

Ocugen Stock Down 2.1%

Shares of Ocugen stock opened at $1.38 on Friday. The business has a fifty day simple moving average of $1.67 and a 200 day simple moving average of $1.57. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 4.17. The stock has a market cap of $467.16 million, a PE ratio of -5.75 and a beta of 2.30. Ocugen has a 12 month low of $0.80 and a 12 month high of $2.73.

Ocugen (NASDAQ:OCGN) last posted its earnings results on Tuesday, May 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $1.53 million for the quarter, compared to the consensus estimate of $0.42 million. Ocugen had a negative return on equity of 127,987.80% and a negative net margin of 1,192.18%. Research analysts predict that Ocugen will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Ocugen

Institutional investors have recently made changes to their positions in the stock. CTC Alternative Strategies Ltd. bought a new stake in shares of Ocugen in the first quarter valued at approximately $34,000. SmartHarvest Portfolios LLC bought a new stake in shares of Ocugen in the fourth quarter valued at approximately $31,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Ocugen in the fourth quarter valued at approximately $38,000. Cora Capital Advisors LLC boosted 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 valued at $41,000 after buying an additional 6,500 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Ocugen by 28,222.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 30,305 shares of the company’s stock valued at $41,000 after buying an additional 30,198 shares during the period. 10.27% of the stock is currently owned by institutional investors.

Ocugen Company Profile

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.