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

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

Several analysts have weighed in on OCGN shares. HC Wainwright boosted their price target on shares of Ocugen from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, March 25th. Chardan Capital reaffirmed a “buy” rating and set a $7.00 price objective on shares of Ocugen in a research note on Wednesday, March 25th. Oppenheimer initiated coverage on Ocugen in a report on Wednesday, March 11th. They issued an “outperform” rating and a $10.00 price objective on the stock. Weiss Ratings lowered Ocugen from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. Finally, Canaccord Genuity Group dropped their target price on Ocugen from $12.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, May 27th.

Ocugen Stock Up 0.7%

Shares of OCGN opened at $1.39 on Thursday. Ocugen has a 1 year low of $0.90 and a 1 year high of $2.73. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.86 and a quick ratio of 1.86. The stock has a 50 day simple moving average of $1.45 and a two-hundred day simple moving average of $1.58. The firm has a market cap of $470.54 million, a P/E ratio of -5.79 and a beta of 2.19.

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

Insider Buying and Selling at Ocugen

In related news, CFO Treerita Essali Johnson-Greene acquired 21,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was purchased at an average price of $1.23 per share, with a total value of $25,830.00. Following the completion of the purchase, the chief financial officer owned 521,000 shares in the company, valued at $640,830. This trade represents a 4.20% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.95% of the company’s stock.

Institutional Investors Weigh In On Ocugen

Several institutional investors have recently added to or reduced their stakes in the company. CTC Alternative Strategies Ltd. purchased a new position in shares of Ocugen in the first quarter valued at about $34,000. SmartHarvest Portfolios LLC purchased a new stake in shares of Ocugen during the fourth quarter worth about $31,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Ocugen during the fourth quarter worth about $38,000. Cora Capital Advisors LLC grew 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. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Ocugen by 28,222.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 30,305 shares of the company’s stock valued at $41,000 after purchasing an additional 30,198 shares during the period. Hedge funds and other institutional investors own 10.27% of the company’s stock.

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.