Chardan Capital Reiterates Buy Rating for Ocugen (NASDAQ:OCGN)
by Tristan Rich · The Markets DailyOcugen (NASDAQ:OCGN – Get Free Report)‘s stock had its “buy” rating restated by Chardan Capital in a report released on Thursday,Benzinga reports. They presently have a $7.00 price target on the stock. Chardan Capital’s target price would indicate a potential upside of 334.78% from the stock’s previous close.
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Ocugen in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.00.
Read Our Latest Stock Analysis on Ocugen
Ocugen Trading Down 7.5%
Ocugen stock opened at $1.61 on Thursday. Ocugen has a one year low of $0.52 and a one year high of $2.00. The business’s fifty day moving average is $1.58 and its 200 day moving average is $1.42. The stock has a market capitalization of $527.92 million, a PE ratio of -7.00 and a beta of 2.75. The company has a debt-to-equity ratio of 8.04, a current ratio of 1.06 and a quick ratio of 1.85.
Ocugen (NASDAQ:OCGN – Get Free Report) last issued its earnings results on Wednesday, March 4th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of ($0.19) million during the quarter, compared to analyst estimates of $0.86 million. Ocugen had a negative return on equity of 2,626.38% and a negative net margin of 1,192.18%. On average, sell-side analysts predict that Ocugen will post -0.2 EPS for the current year.
Institutional Investors Weigh In On Ocugen
A number of large investors have recently made changes to their positions in OCGN. SmartHarvest Portfolios LLC purchased a new stake in shares of Ocugen during the 4th quarter valued at about $31,000. Schonfeld Strategic Advisors LLC bought a new stake in Ocugen during the fourth quarter valued at approximately $38,000. Verdence Capital Advisors LLC bought a new stake in Ocugen during the third quarter valued at approximately $47,000. Cora Capital Advisors LLC increased its holdings in Ocugen by 27.5% during 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 last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Ocugen by 28,222.4% during 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 last quarter. 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.