Ocugen (NASDAQ:OCGN) Announces Quarterly Earnings Results

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

Ocugen Stock Down 2.7 %

Shares of Ocugen stock opened at $0.67 on Friday. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.04. Ocugen has a 12-month low of $0.52 and a 12-month high of $2.06. The company has a market cap of $195.80 million, a P/E ratio of -3.72 and a beta of 4.21. The company’s fifty day simple moving average is $0.66 and its two-hundred day simple moving average is $0.76.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on OCGN shares. 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 reissued a “buy” rating and issued a $8.00 target price on shares of Ocugen in a research note on Thursday, March 6th.

Ocugen Company Profile

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.