FY2029 Earnings Estimate for Ocugen Issued By HC Wainwright

Ocugen, Inc. (NASDAQ:OCGN) – Analysts at HC Wainwright lowered their FY2029 earnings per share estimates for Ocugen in a note issued to investors on Monday, September 28th. HC Wainwright analyst S. Ramakanth now forecasts that the company will post earnings per share of $0.05 for the year, down from their previous forecast of $0.06. The consensus estimate for Ocugen’s current full-year earnings is ($0.25) per share.

OCGN has been the subject of a number of other reports. Wall Street Zen downgraded shares of Ocugen from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Ocugen Price Performance

Shares of NASDAQ:OCGN opened at $1.09 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 4.17. The company has a 50-day moving average price of $1.24 and a 200 day moving average price of $1.46. The company has a market cap of $369.63 million, a P/E ratio of -4.19 and a beta of 2.20. Ocugen has a 52 week low of $0.97 and a 52 week high of $2.73.

Ocugen (NASDAQ:OCGN) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The company had revenue of $1.49 million for the quarter, compared to analysts’ expectations of $0.89 million.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP lifted its stake in Ocugen by 70.2% in the 2nd quarter. Engineers Gate Manager LP now owns 18,368 shares of the company’s stock valued at $28,000 after buying an additional 7,577 shares in the last quarter. NewEdge Advisors LLC increased its position in Ocugen by 42.4% during the second quarter. NewEdge Advisors LLC now owns 237,180 shares of the company’s stock worth $363,000 after buying an additional 70,585 shares in the last quarter. AXQ Capital LP acquired a new position in shares of Ocugen in the second quarter worth $65,000. Headlands Technologies LLC raised its holdings in shares of Ocugen by 527.1% in the second quarter. Headlands Technologies LLC now owns 511,575 shares of the company’s stock worth $783,000 after acquiring an additional 429,997 shares during the last quarter. Finally, Two Sigma Securities LLC lifted its position in shares of Ocugen by 116.9% in the second quarter. Two Sigma Securities LLC now owns 156,027 shares of the company’s stock valued at $239,000 after acquiring an additional 84,100 shares in the last quarter. 10.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Ocugen news, CEO Shankar Musunuri sold 57,264 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $1.12, for a total value of $64,135.68. Following the sale, the chief executive officer owned 1,088,035 shares of the company’s stock, valued at $1,218,599.20. This represents a 5.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.95% of the stock is owned by company insiders.

About Ocugen

Ocugen, Inc (NASDAQ: OCGN) is a biotechnology company focused on developing gene and cell therapies for blindness diseases and other serious medical conditions. The company’s ophthalmology pipeline includes modifier gene therapies designed to address inherited retinal diseases, including retinitis pigmentosa and geographic atrophy associated with dry age-related macular degeneration.

Ocugen’s leading candidates include OCU400, an investigational gene therapy for certain inherited retinal diseases, and OCU410 and OCU410ST, investigational therapies being developed for geographic atrophy and Stargardt disease, respectively.