Ocugen, Inc. (NASDAQ:OCGN) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Ocugen, Inc. (NASDAQ:OCGN) have received an average recommendation of “Moderate Buy” from the five analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $9.50.

A number of research firms have recently issued reports on OCGN. Wall Street Zen cut Ocugen from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Canaccord Genuity Group decreased their target price on Ocugen from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Finally, Weiss Ratings upgraded Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday.

Ocugen Stock Down 3.6%

Shares of OCGN stock opened at $1.35 on Friday. The company has a debt-to-equity ratio of 4.17, a quick ratio of 0.80 and a current ratio of 0.80. The firm’s 50-day moving average is $1.34 and its 200-day moving average is $1.56. The stock has a market cap of $457.80 million, a price-to-earnings ratio of -5.19 and a beta of 2.21. Ocugen has a 52-week low of $0.98 and a 52-week high of $2.73.

Ocugen (NASDAQ:OCGN) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The company had revenue of $1.49 million during the quarter, compared to analyst estimates of $0.89 million. Sell-side analysts predict that Ocugen will post -0.25 EPS for the current year.

Insider Activity at Ocugen

In related news, CFO Treerita Essali Johnson-Greene acquired 21,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were purchased at an average cost of $1.23 per share, for a total transaction of $25,830.00. Following the completion of the acquisition, the chief financial officer directly owned 521,000 shares in the company, valued at approximately $640,830. This trade represents a 4.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OCGN. Diversify Advisory Services LLC acquired a new position in shares of Ocugen in the second quarter valued at approximately $25,000. SmartHarvest Portfolios LLC acquired a new stake in Ocugen during the 4th quarter worth approximately $31,000. CTC Alternative Strategies Ltd. bought a new stake in Ocugen in the 1st quarter valued at $34,000. BNP Paribas Financial Markets grew its holdings in Ocugen by 56.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company’s stock valued at $36,000 after buying an additional 13,326 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Ocugen by 198.0% in the 2nd 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. Institutional investors and hedge funds own 10.27% of the company’s stock.

Ocugen Company Profile

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.