Ocugen’s (OCGN) Buy Rating Reiterated at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Ocugen (NASDAQ:OCGN) in a report released on Thursday morning,Benzinga reports. The brokerage currently has a $6.00 target price on the stock.

Separately, HC Wainwright raised their target price on shares of Ocugen from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday.

Ocugen Trading Up 2.2 %

OCGN stock opened at $0.72 on Thursday. The business has a fifty day moving average of $0.78 and a 200-day moving average of $0.97. The company has a market cap of $209.14 million, a P/E ratio of -3.99 and a beta of 3.82. Ocugen has a twelve month low of $0.64 and a twelve month high of $2.11. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.04.

Hedge Funds Weigh In On Ocugen

Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in shares of Ocugen during the 4th quarter worth about $32,000. Tower Research Capital LLC TRC increased its stake in Ocugen by 309.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 39,848 shares of the company’s stock valued at $32,000 after purchasing an additional 30,120 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Ocugen during the fourth quarter worth $40,000. Two Sigma Securities LLC grew its holdings in shares of Ocugen by 92.9% in the 4th quarter. Two Sigma Securities LLC now owns 51,909 shares of the company’s stock valued at $42,000 after buying an additional 25,004 shares during the period. Finally, Gerber Kawasaki Wealth & Investment Management bought a new stake in shares of Ocugen in the 4th quarter valued at $56,000. Institutional investors and hedge funds own 10.27% of the company’s stock.

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.