Ocugen (NASDAQ:OCGN) Price Target Raised to $8.00 at HC Wainwright

Ocugen (NASDAQ:OCGN) had its price target boosted by analysts at HC Wainwright from $7.00 to $8.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Separately, Chardan Capital reissued a “buy” rating and issued a $6.00 price target on shares of Ocugen in a report on Thursday, January 23rd.

Ocugen Stock Performance

NASDAQ OCGN opened at $0.66 on Thursday. 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 quick ratio of 2.58 and a current ratio of 2.58. The firm has a market capitalization of $192.27 million, a P/E ratio of -3.67 and a beta of 3.82. The stock has a 50-day simple moving average of $0.79 and a two-hundred day simple moving average of $0.98.

Institutional Inflows and Outflows

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

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.