Ocugen, Inc. (NASDAQ:OCGN) Given Average Rating of “Moderate Buy” by Analysts

Ocugen, Inc. (NASDAQ:OCGN) has earned a consensus rating of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $9.50.

OCGN has been the topic of a number of research reports. HC Wainwright upped their price target on shares of Ocugen from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, March 25th. Chardan Capital restated a “buy” rating and issued a $7.00 target price on shares of Ocugen in a research note on Wednesday, March 25th. Wall Street Zen raised Ocugen from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Canaccord Genuity Group cut their price target on Ocugen from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Finally, Weiss Ratings lowered Ocugen from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd.

Insider Buying and Selling

In other Ocugen news, CFO Treerita Essali Johnson-Greene acquired 21,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average price of $1.23 per share, with a total value of $25,830.00. Following the completion of the transaction, the chief financial officer owned 521,000 shares in the company, valued at $640,830. The trade was a 4.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.95% of the company’s stock.

Institutional Trading of Ocugen

A number of institutional investors have recently added to or reduced their stakes in the business. SmartHarvest Portfolios LLC bought a new position in shares of Ocugen during the 4th quarter valued at $31,000. CTC Alternative Strategies Ltd. acquired a new position in Ocugen during the first quarter worth $34,000. BNP Paribas Financial Markets increased its position in Ocugen by 56.7% during the second quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company’s stock worth $36,000 after buying an additional 13,326 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Ocugen by 198.0% during the second quarter. NewEdge Advisors LLC now owns 36,814 shares of the company’s stock valued at $36,000 after buying an additional 24,460 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in Ocugen during the fourth quarter valued at about $38,000. 10.27% of the stock is currently owned by institutional investors and hedge funds.

Ocugen Price Performance

Ocugen stock opened at $1.36 on Monday. Ocugen has a twelve month low of $0.93 and a twelve month high of $2.73. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a market cap of $460.39 million, a PE ratio of -5.67 and a beta of 2.18. The firm’s 50 day moving average price is $1.38 and its two-hundred day moving average price is $1.60.

Ocugen (NASDAQ:OCGN) last issued its earnings results on Tuesday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $1.53 million for the quarter, compared to the consensus estimate of $0.42 million. On average, research analysts predict that Ocugen will post -0.22 EPS for the current fiscal 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.