Ocugen, Inc. (NASDAQ:OCGN) Receives $9.75 Consensus PT from Analysts

Ocugen, Inc. (NASDAQ:OCGN) has been given an average recommendation of “Moderate Buy” by the five analysts that are currently covering the stock, Marketbeat reports. One 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 brokers that have issued ratings on the stock in the last year is $9.75.

OCGN has been the topic of a number of analyst reports. Oppenheimer initiated coverage on Ocugen in a research report on Wednesday, March 11th. They set an “outperform” rating and a $10.00 target price on the stock. Canaccord Genuity Group initiated coverage on Ocugen in a research report on Tuesday, March 17th. They set a “buy” rating and a $12.00 target price on the stock. HC Wainwright raised their target price on Ocugen from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, March 25th. Wall Street Zen cut Ocugen from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Ocugen in a research report on Thursday, January 22nd.

Institutional Investors Weigh In On Ocugen

Several institutional investors have recently bought and sold shares of OCGN. SmartHarvest Portfolios LLC purchased a new position in Ocugen in the 4th quarter worth approximately $31,000. BNP Paribas Financial Markets lifted its stake in Ocugen by 56.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company’s stock worth $36,000 after purchasing an additional 13,326 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Ocugen by 198.0% in the 2nd quarter. NewEdge Advisors LLC now owns 36,814 shares of the company’s stock worth $36,000 after purchasing an additional 24,460 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Ocugen during the 4th quarter valued at approximately $38,000. Finally, Cora Capital Advisors LLC lifted its holdings in Ocugen by 27.5% in the fourth quarter. Cora Capital Advisors LLC now owns 30,143 shares of the company’s stock valued at $41,000 after acquiring an additional 6,500 shares during the last quarter. 10.27% of the stock is currently owned by institutional investors and hedge funds.

Ocugen Price Performance

NASDAQ OCGN opened at $1.99 on Friday. The company has a debt-to-equity ratio of 8.04, a current ratio of 1.06 and a quick ratio of 1.06. The stock’s fifty day moving average price is $1.83 and its 200 day moving average price is $1.59. Ocugen has a 1 year low of $0.64 and a 1 year high of $2.73. The company has a market cap of $652.52 million, a price-to-earnings ratio of -8.65 and a beta of 2.80.

Ocugen (NASDAQ:OCGN) last released its earnings results on Wednesday, March 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). Ocugen had a negative return on equity of 2,626.38% and a negative net margin of 1,192.18%.The firm had revenue of ($0.19) million for the quarter, compared to the consensus estimate of $0.86 million. As a group, equities research analysts forecast that Ocugen will post -0.2 earnings per share for the current year.

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.