Ocugen, Inc. (OCGN) – What Are Investment Firms Saying About This Stock?

Shares of Ocugen, Inc. (NASDAQ:OCGN) have received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $9.50.

Several equities analysts have recently issued reports on OCGN shares. Weiss Ratings raised Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Wall Street Zen cut Ocugen from a “hold” rating to a “sell” rating in a report on Saturday.

Insiders Place Their Bets

In other Ocugen news, CEO Shankar Musunuri sold 57,264 shares of the company’s stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $0.95, for a total transaction of $54,400.80. Following the transaction, the chief executive officer directly owned 1,030,771 shares in the company, valued at approximately $979,232.45. This represents a 5.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,051,982 shares of company stock worth $1,088,801. Insiders own 3.95% of the company’s stock.

Institutional Investors Weigh In On Ocugen

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE acquired a new position in Ocugen in the second quarter valued at approximately $3,046,000. Hennion & Walsh Asset Management Inc. boosted its stake in Ocugen by 121.7% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 2,830,397 shares of the company’s stock valued at $4,331,000 after acquiring an additional 1,553,672 shares during the last quarter. BlackRock Inc. bought a new position in Ocugen in the second quarter valued at approximately $41,314,000. Headlands Technologies LLC boosted its stake in Ocugen by 527.1% in the second quarter. Headlands Technologies LLC now owns 511,575 shares of the company’s stock valued at $783,000 after acquiring an additional 429,997 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Ocugen during the 2nd quarter worth $1,238,000. Institutional investors and hedge funds own 10.27% of the company’s stock.

Ocugen Trading Up 6.9%

Shares of OCGN opened at $0.76 on Wednesday. The business’s fifty day moving average price is $1.07 and its two-hundred day moving average price is $1.44. Ocugen has a 52 week low of $0.70 and a 52 week high of $2.73.

Ocugen (NASDAQ:OCGN) last released its earnings results on Thursday, August 6th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $1.49 million during the quarter, compared to the consensus estimate of $0.89 million. Research analysts anticipate that Ocugen will post -0.25 earnings per share for the current fiscal year.

Ocugen Company Profile

Ocugen, Inc (NASDAQ: OCGN) is a biotechnology company focused on developing gene and cell therapies for blindness diseases and vaccines for infectious diseases. The company’s programs are designed to address serious conditions with limited treatment options, including inherited retinal diseases and diseases affecting the central retina.

Ocugen’s pipeline includes modifier gene therapy candidates intended to treat multiple retinal disorders with a single therapeutic approach. Its lead programs include OCU400 for retinitis pigmentosa, OCU410 for geographic atrophy associated with dry age-related macular degeneration, and OCU410ST for Stargardt disease.