Ocugen (NASDAQ:OCGN) Given New $5.00 Price Target at Chardan Capital

Ocugen (NASDAQ:OCGN) had its target price lifted by Chardan Capital from $4.00 to $5.00 in a research note published on Monday morning, Benzinga reports. Chardan Capital currently has a buy rating on the stock.

Separately, HC Wainwright reaffirmed a buy rating and set a $7.00 price target on shares of Ocugen in a research report on Wednesday, April 3rd.

Ocugen Stock Down 5.6 %

Shares of NASDAQ:OCGN opened at $1.18 on Monday. The business has a 50-day moving average price of $1.27 and a 200 day moving average price of $0.74. The company has a market capitalization of $303.65 million, a price-to-earnings ratio of -4.37 and a beta of 3.51. Ocugen has a 12-month low of $0.35 and a 12-month high of $2.11. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 0.07.

Ocugen (NASDAQ:OCGN) last posted its earnings results on Tuesday, April 16th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $6.04 million during the quarter. Sell-side analysts expect that Ocugen will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Ocugen stock. David J Yvars Group bought a new stake in Ocugen, Inc. (NASDAQ:OCGN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,170 shares of the company’s stock, valued at approximately $35,000. 10.27% of the stock is currently owned by institutional investors and hedge funds.

About Ocugen

Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases. 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, such as retinitis pigmentosa and leber congenital amaurosis; OCU410 and OCU410ST for the treatment of dry age-related macular degeneration (AMD); and OCU200, a novel fusion protein that is in preclinical development stage for the treatment of diabetic macular edema, diabetic retinopathy, and wet AMD.