What is HC Wainwright’s Forecast for Ocugen FY2028 Earnings?

Ocugen, Inc. (NASDAQ:OCGN) – Stock analysts at HC Wainwright cut their FY2028 earnings per share (EPS) estimates for shares of Ocugen in a research report issued to clients and investors on Thursday, September 10th. HC Wainwright analyst S. Ramakanth now forecasts that the company will earn ($0.43) per share for the year, down from their previous forecast of ($0.41). The consensus estimate for Ocugen’s current full-year earnings is ($0.25) per share.

Other research analysts also recently issued reports about the stock. Canaccord Genuity Group decreased their target price on shares of Ocugen from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Wall Street Zen cut shares of Ocugen from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings raised shares of Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Ocugen Stock Performance

NASDAQ:OCGN opened at $0.99 on Monday. The firm has a market cap of $335.72 million, a PE ratio of -3.81 and a beta of 2.20. Ocugen has a fifty-two week low of $0.98 and a fifty-two week high of $2.73. The company has a debt-to-equity ratio of 4.17, a quick ratio of 0.80 and a current ratio of 0.80. The business has a 50 day moving average price of $1.31 and a 200-day moving average price of $1.52.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The business had revenue of $1.49 million during the quarter, compared to analyst estimates of $0.89 million.

Hedge Funds Weigh In On Ocugen

A number of institutional investors have recently bought and sold shares of the stock. Engineers Gate Manager LP boosted its position in Ocugen by 70.2% during the 2nd quarter. Engineers Gate Manager LP now owns 18,368 shares of the company’s stock valued at $28,000 after acquiring an additional 7,577 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Ocugen by 42.4% in the 2nd quarter. NewEdge Advisors LLC now owns 237,180 shares of the company’s stock valued at $363,000 after purchasing an additional 70,585 shares during the period. AXQ Capital LP bought a new stake in shares of Ocugen during the second quarter valued at approximately $65,000. Headlands Technologies LLC boosted its position in shares of Ocugen by 527.1% during the second quarter. Headlands Technologies LLC now owns 511,575 shares of the company’s stock valued at $783,000 after purchasing an additional 429,997 shares in the last quarter. Finally, Two Sigma Securities LLC grew its stake in Ocugen by 116.9% in the second quarter. Two Sigma Securities LLC now owns 156,027 shares of the company’s stock worth $239,000 after purchasing an additional 84,100 shares during the period. 10.27% of the stock is owned by institutional investors.

Insider Activity at Ocugen

In other news, CEO Shankar Musunuri sold 57,264 shares of Ocugen stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $1.12, for a total transaction of $64,135.68. Following the sale, the chief executive officer owned 1,088,035 shares of the company’s stock, valued at approximately $1,218,599.20. The trade was a 5.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.95% of the company’s stock.

Ocugen Company Profile

Ocugen, Inc (NASDAQ: OCGN) is a biotechnology company focused on developing gene and cell therapies for blindness diseases and other serious medical conditions. The company’s ophthalmology pipeline includes modifier gene therapies designed to address inherited retinal diseases, including retinitis pigmentosa and geographic atrophy associated with dry age-related macular degeneration.

Ocugen’s leading candidates include OCU400, an investigational gene therapy for certain inherited retinal diseases, and OCU410 and OCU410ST, investigational therapies being developed for geographic atrophy and Stargardt disease, respectively.