Zacks: Brokerages Anticipate Ocugen, Inc. (NASDAQ:OCGN) Will Announce Earnings of -$0.04 Per Share

Brokerages predict that Ocugen, Inc. (NASDAQ:OCGN) will report earnings per share (EPS) of ($0.04) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Ocugen’s earnings. Ocugen reported earnings of ($0.07) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 42.9%. The business is scheduled to issue its next quarterly earnings report on Friday, November 5th.

On average, analysts expect that Ocugen will report full year earnings of ($0.25) per share for the current year, with EPS estimates ranging from ($0.33) to ($0.12). For the next year, analysts forecast that the firm will report earnings of $0.25 per share, with EPS estimates ranging from ($0.25) to $0.65. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Ocugen.

Ocugen (NASDAQ:OCGN) last issued its quarterly earnings results on Friday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10).

A number of analysts have recently weighed in on OCGN shares. Zacks Investment Research lowered Ocugen from a “hold” rating to a “sell” rating in a research note on Wednesday. Chardan Capital dropped their price objective on Ocugen from $8.00 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, June 10th. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Ocugen in a research note on Monday, August 9th. Roth Capital lowered Ocugen from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $6.00 in a research note on Thursday, June 10th. Finally, Noble Financial started coverage on Ocugen in a research note on Monday, July 26th. They set a “buy” rating and a $6.80 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.38.

In other Ocugen news, Director Ramesh Kumar sold 7,500 shares of the stock in a transaction on Monday, July 19th. The stock was sold at an average price of $6.40, for a total value of $48,000.00. Following the completion of the transaction, the director now owns 7,500 shares in the company, valued at $48,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Uday Kompella sold 10,000 shares of the stock in a transaction on Friday, June 25th. The stock was sold at an average price of $8.13, for a total value of $81,300.00. Following the completion of the transaction, the director now owns 560,674 shares of the company’s stock, valued at approximately $4,558,279.62. The disclosure for this sale can be found here. Insiders sold 58,586 shares of company stock valued at $405,676 in the last ninety days. 3.65% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Creative Financial Designs Inc. ADV bought a new position in shares of Ocugen during the second quarter valued at $32,000. Advisor Group Holdings Inc. increased its holdings in shares of Ocugen by 50.7% during the second quarter. Advisor Group Holdings Inc. now owns 4,731 shares of the company’s stock valued at $38,000 after acquiring an additional 1,592 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of Ocugen during the second quarter valued at $55,000. Retirement Group LLC increased its holdings in shares of Ocugen by 41.8% during the second quarter. Retirement Group LLC now owns 8,505 shares of the company’s stock valued at $68,000 after acquiring an additional 2,505 shares in the last quarter. Finally, Inspire Advisors LLC bought a new position in shares of Ocugen during the second quarter valued at $80,000. Hedge funds and other institutional investors own 28.49% of the company’s stock.

NASDAQ:OCGN opened at $7.55 on Friday. The firm has a market cap of $1.50 billion, a PE ratio of -24.35 and a beta of 4.47. Ocugen has a fifty-two week low of $0.25 and a fifty-two week high of $18.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 25.13 and a current ratio of 25.13. The business has a 50 day moving average price of $7.30 and a 200-day moving average price of $8.03.

About Ocugen

Ocugen, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. The firm’s modifier gene therapy platform is engaged in addressing retinal diseases, including retinitis pigmentosa, leber congenital amaurosis, and dry age-related macular degeneration.

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