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

Shares of Ocugen, Inc. (NASDAQ:OCGN) have earned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $9.50.

Several brokerages recently issued reports on OCGN. Oppenheimer assumed coverage on Ocugen in a research note on Wednesday, March 11th. They issued an “outperform” rating and a $10.00 price target for the company. Chardan Capital restated a “buy” rating and set a $7.00 target price on shares of Ocugen in a research note on Wednesday, March 25th. Weiss Ratings cut Ocugen from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 18th. Wall Street Zen upgraded Ocugen from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Canaccord Genuity Group cut their target price on Ocugen from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday.

Institutional Investors Weigh In On Ocugen

Several institutional investors and hedge funds have recently added to or reduced their stakes in OCGN. UBS Group AG lifted its stake in Ocugen by 373.2% during the fourth quarter. UBS Group AG now owns 4,849,353 shares of the company’s stock worth $6,547,000 after purchasing an additional 3,824,474 shares during the last quarter. State Street Corp lifted its stake in Ocugen by 193.6% during the fourth quarter. State Street Corp now owns 3,978,738 shares of the company’s stock worth $5,371,000 after purchasing an additional 2,623,361 shares during the last quarter. Marshall Wace LLP bought a new stake in Ocugen during the fourth quarter worth $3,417,000. Goldman Sachs Group Inc. lifted its stake in Ocugen by 2,256.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,302,475 shares of the company’s stock worth $3,108,000 after purchasing an additional 2,204,765 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Ocugen by 485.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,700,400 shares of the company’s stock worth $2,296,000 after purchasing an additional 1,410,200 shares during the last quarter. 10.27% of the stock is currently owned by institutional investors.

Ocugen Trading Down 2.1%

Shares of OCGN stock opened at $1.38 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 4.17. The stock has a market cap of $467.16 million, a P/E ratio of -5.75 and a beta of 2.30. The stock has a 50 day simple moving average of $1.67 and a 200 day simple moving average of $1.57. Ocugen has a 1 year low of $0.80 and a 1 year high of $2.73.

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