Ocugen (NASDAQ:OCGN) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Ocugen (NASDAQ:OCGN) issued its quarterly earnings data on Friday. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01, Zacks reports. Ocugen had a negative net margin of 532.51% and a negative return on equity of 154.75%. The firm had revenue of $1.48 million for the quarter.

Ocugen Stock Performance

Shares of NASDAQ OCGN opened at $0.67 on Friday. The company has a 50-day simple moving average of $0.66 and a 200-day simple moving average of $0.76. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.58 and a quick ratio of 2.58. The company has a market cap of $195.80 million, a PE ratio of -3.72 and a beta of 4.21. Ocugen has a 12 month low of $0.52 and a 12 month high of $2.06.

Analyst Upgrades and Downgrades

OCGN has been the topic of several research reports. Chardan Capital increased their price target on shares of Ocugen from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of Ocugen in a report on Thursday, March 6th.

About Ocugen

Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing novel gene and cell therapies and vaccines that improve patients’ health. The company’s pipeline product includes OCU400, a novel gene therapy product candidate restoring retinal integrity and function across a range of genetically diverse inherited retinal diseases, currently under Phase 3 trials for the treatment of retinitis pigmentosa and Phase 1/2 trials for the treatment of leber congenital amaurosis; OCU410, a gene therapy under phase 1/2 for the treatment of dry age-related macular degeneration (AMD); and OCU410ST, a gene therapy under phase 1/2 for the treatment of Stargardt disease.