Ocugen (NASDAQ:OCGN) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Ocugen (NASDAQ:OCGN) from a hold rating to a sell rating in a research note published on Saturday morning.

Several other research firms have also recently weighed in on OCGN. Chardan Capital reiterated a “buy” rating and set a $7.00 price objective on shares of Ocugen in a research report on Wednesday, March 25th. Canaccord Genuity Group started coverage on shares of Ocugen in a research report on Tuesday, March 17th. They set a “buy” rating and a $12.00 price objective on the stock. Oppenheimer started coverage on shares of Ocugen in a research report on Wednesday, March 11th. They set an “outperform” rating and a $10.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ocugen in a research report on Thursday, January 22nd. Finally, HC Wainwright boosted their price target on shares of Ocugen from $7.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, March 25th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.75.

Ocugen Trading Down 1.1%

NASDAQ OCGN opened at $1.77 on Friday. Ocugen has a twelve month low of $0.57 and a twelve month high of $2.73. The company has a debt-to-equity ratio of 8.04, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $580.38 million, a price-to-earnings ratio of -7.70 and a beta of 2.80. The firm’s 50 day moving average price is $1.76 and its two-hundred day moving average price is $1.57.

Ocugen (NASDAQ:OCGN) last posted its quarterly earnings data on Wednesday, March 4th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). Ocugen had a negative net margin of 1,192.18% and a negative return on equity of 2,626.38%. The firm had revenue of ($0.19) million for the quarter, compared to analysts’ expectations of $0.86 million. Equities analysts anticipate that Ocugen will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Ocugen

Institutional investors and hedge funds have recently modified their holdings of the stock. SmartHarvest Portfolios LLC purchased a new position in shares of Ocugen during the 4th quarter valued at $31,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Ocugen during the 4th quarter valued at $38,000. Verdence Capital Advisors LLC purchased a new position in shares of Ocugen during the 3rd quarter valued at $47,000. Cora Capital Advisors LLC grew its holdings in shares of Ocugen by 27.5% during the 4th 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Ocugen by 28,222.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 30,305 shares of the company’s stock valued at $41,000 after acquiring an additional 30,198 shares in the last quarter. 10.27% of the stock is currently owned by hedge funds and other institutional investors.

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.