Ocugen (NASDAQ:OCGN) Earns Buy Rating from Chardan Capital

by · The Markets Daily

Ocugen (NASDAQ:OCGN – Get Free Report)‘s stock had its “buy” rating reissued by equities researchers at Chardan Capital in a report issued on Friday,Benzinga reports. They currently have a $6.00 target price on the stock. Chardan Capital’s price objective indicates a potential upside of 460.75% from the company’s previous close.

Several other research firms have also recently issued reports on OCGN. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Ocugen in a research note on Wednesday, October 23rd. Maxim Group started coverage on Ocugen in a research note on Tuesday, October 15th. They set a “buy” rating and a $4.00 price objective for the company.

Read Our Latest Stock Analysis on Ocugen

Ocugen Stock Performance

Shares of NASDAQ OCGN traded up $0.08 during trading on Friday, reaching $1.07. 2,573,458 shares of the stock traded hands, compared to its average volume of 6,140,895. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $308.01 million, a P/E ratio of -5.39 and a beta of 3.75. Ocugen has a 52-week low of $0.35 and a 52-week high of $2.11. The company has a 50-day moving average of $1.03 and a 200-day moving average of $1.35.

Ocugen (NASDAQ:OCGN – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $1.14 million for the quarter. During the same quarter in the prior year, the firm earned ($0.10) EPS. Analysts forecast that Ocugen will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Xponance Inc. purchased a new position in shares of Ocugen in the second quarter worth $25,000. Baader Bank Aktiengesellschaft bought a new position in shares of Ocugen during the second quarter valued at about $35,000. Victory Capital Management Inc. purchased a new stake in shares of Ocugen during the second quarter worth about $51,000. Headlands Technologies LLC bought a new stake in shares of Ocugen in the first quarter worth about $66,000. Finally, Daiwa Securities Group Inc. purchased a new position in Ocugen during the 2nd quarter valued at about $67,000. 10.27% of the stock is owned by institutional investors.

Ocugen Company Profile

(Get Free Report)

Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing novel gene and cell therapies and vaccines that improve patients’ health. The company’s pipeline product includes OCU400, a novel gene therapy product candidate restoring retinal integrity and function across a range of genetically diverse inherited retinal diseases, currently under Phase 3 trials for the treatment of retinitis pigmentosa and Phase 1/2 trials for the treatment of leber congenital amaurosis; OCU410, a gene therapy under phase 1/2 for the treatment of dry age-related macular degeneration (AMD); and OCU410ST, a gene therapy under phase 1/2 for the treatment of Stargardt disease.

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