Ocugen’s (OCGN) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Ocugen (NASDAQ:OCGN) in a report issued on Thursday,Benzinga reports. HC Wainwright currently has a $8.00 price objective on the stock.

Separately, Chardan Capital restated a “buy” rating and set a $6.00 price objective on shares of Ocugen in a report on Thursday, February 13th.

Ocugen Trading Up 10.0 %

Shares of NASDAQ:OCGN opened at $0.63 on Thursday. Ocugen has a 12-month low of $0.55 and a 12-month high of $2.11. The stock has a market cap of $183.71 million, a PE ratio of -3.50 and a beta of 3.88. The business has a 50 day moving average of $0.73 and a 200-day moving average of $0.91. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.04.

Ocugen (NASDAQ:OCGN) last issued its quarterly earnings data on Wednesday, March 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). Ocugen had a negative return on equity of 154.75% and a negative net margin of 532.51%. The company had revenue of $0.76 million during the quarter, compared to analysts’ expectations of $0.30 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. As a group, equities research analysts forecast that Ocugen will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OCGN. Renaissance Technologies LLC acquired a new position in shares of Ocugen during the fourth quarter worth $1,681,000. State Street Corp increased its holdings in shares of Ocugen by 7.1% during the third quarter. State Street Corp now owns 15,824,517 shares of the company’s stock worth $15,701,000 after buying an additional 1,047,896 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Ocugen during the third quarter worth $456,000. Geode Capital Management LLC increased its holdings in shares of Ocugen by 6.3% during the third quarter. Geode Capital Management LLC now owns 6,278,554 shares of the company’s stock worth $6,231,000 after buying an additional 373,555 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Ocugen by 258.8% during the fourth quarter. Jane Street Group LLC now owns 496,177 shares of the company’s stock worth $399,000 after buying an additional 357,891 shares in the last quarter. 10.27% of the stock is currently owned by institutional investors and hedge funds.

About Ocugen

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.