Ocugen (NASDAQ:OCGN) Earns Buy Rating from Chardan Capital

Ocugen (NASDAQ:OCGN)‘s stock had its “buy” rating reissued by investment analysts at Chardan Capital in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $6.00 price target on the stock.

Separately, HC Wainwright increased their price objective on shares of Ocugen from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday.

Ocugen Price Performance

Shares of NASDAQ OCGN opened at $0.66 on Thursday. The stock has a market capitalization of $192.27 million, a PE ratio of -3.67 and a beta of 3.82. Ocugen has a fifty-two week low of $0.57 and a fifty-two week high of $2.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.58 and a quick ratio of 2.58. The business has a fifty day moving average price of $0.78 and a two-hundred day moving average price of $0.98.

Hedge Funds Weigh In On Ocugen

Several hedge funds and other institutional investors have recently modified their holdings of OCGN. Virtu Financial LLC bought a new stake in shares of Ocugen during the 4th quarter worth $32,000. SBI Securities Co. Ltd. acquired a new position in Ocugen during the 4th quarter worth approximately $40,000. SG Americas Securities LLC bought a new position in Ocugen in the 3rd quarter valued at approximately $87,000. MetLife Investment Management LLC increased its holdings in shares of Ocugen by 36.4% during the third quarter. MetLife Investment Management LLC now owns 89,508 shares of the company’s stock worth $89,000 after buying an additional 23,877 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC bought a new position in shares of Ocugen in the 3rd quarter valued at $90,000. Institutional investors own 10.27% of the company’s stock.

Ocugen Company Profile

Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing novel gene and cell therapies and vaccines that improve patients’ health. The company’s pipeline product includes OCU400, a novel gene therapy product candidate restoring retinal integrity and function across a range of genetically diverse inherited retinal diseases, currently under Phase 3 trials for the treatment of retinitis pigmentosa and Phase 1/2 trials for the treatment of leber congenital amaurosis; OCU410, a gene therapy under phase 1/2 for the treatment of dry age-related macular degeneration (AMD); and OCU410ST, a gene therapy under phase 1/2 for the treatment of Stargardt disease.