Ocugen, Inc. (NASDAQ:OCGN) Receives $9.00 Average Target Price from Analysts

Shares of Ocugen, Inc. (NASDAQ:OCGN) have received a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $9.00.

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

Institutional Trading of Ocugen

Institutional investors have recently modified their holdings of the stock. SmartHarvest Portfolios LLC purchased a new position in shares of Ocugen in the 4th quarter valued at $31,000. Schonfeld Strategic Advisors LLC acquired a new position in Ocugen in the fourth quarter valued at $38,000. Verdence Capital Advisors LLC acquired a new position in Ocugen in the third quarter valued at $47,000. Cora Capital Advisors LLC grew its holdings in shares of Ocugen by 27.5% during 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 grew its holdings in shares of 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 worth $41,000 after purchasing an additional 30,198 shares during the last quarter. Hedge funds and other institutional investors own 10.27% of the company’s stock.

Ocugen Stock Up 2.9%

Shares of Ocugen stock opened at $2.10 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 8.04. Ocugen has a 52-week low of $0.57 and a 52-week high of $2.72. The company has a market capitalization of $688.58 million, a P/E ratio of -9.13 and a beta of 2.75. The company has a 50 day moving average of $1.73 and a 200 day moving average of $1.52.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings data on Wednesday, March 4th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). The company had revenue of ($0.19) million for the quarter, compared to the consensus estimate of $0.86 million. Ocugen had a negative net margin of 1,192.18% and a negative return on equity of 2,626.38%. As a group, research analysts forecast that Ocugen will post -0.2 EPS for the current fiscal year.

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.