Ocugen’s (OCGN) “Buy” Rating Reiterated at Chardan Capital

Ocugen (NASDAQ:OCGN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Chardan Capital in a note issued to investors on Tuesday,Benzinga reports. They currently have a $7.00 price objective on the stock. Chardan Capital’s target price points to a potential upside of 314.20% from the company’s previous close.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Ocugen in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.00.

Ocugen Trading Up 4.3%

Shares of OCGN stock opened at $1.69 on Tuesday. The company has a debt-to-equity ratio of 8.04, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market capitalization of $527.82 million, a price-to-earnings ratio of -7.68 and a beta of 3.50. Ocugen has a 52-week low of $0.52 and a 52-week high of $1.96. The company has a 50-day simple moving average of $1.37 and a two-hundred day simple moving average of $1.30.

Ocugen (NASDAQ:OCGN) last posted its earnings results on Wednesday, November 5th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The firm had revenue of $3.50 million for the quarter, compared to the consensus estimate of $0.44 million. Ocugen had a negative return on equity of 491.22% and a negative net margin of 1,192.18%. Research analysts anticipate that Ocugen will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Ocugen

Institutional investors and hedge funds have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new stake in Ocugen in the 2nd quarter worth about $333,000. Vanguard Personalized Indexing Management LLC boosted its position in Ocugen by 48.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 29,871 shares of the company’s stock worth $29,000 after purchasing an additional 9,791 shares during the period. Ethic Inc. bought a new position in Ocugen during the second quarter worth about $40,000. Rhumbline Advisers increased its stake in shares of Ocugen by 6.4% in the first quarter. Rhumbline Advisers now owns 345,130 shares of the company’s stock worth $244,000 after purchasing an additional 20,655 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd bought a new stake in shares of Ocugen in the second quarter valued at approximately $130,000. 10.27% of the stock is owned by institutional investors.

About Ocugen

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.