Ocugen (NASDAQ:OCGN – Get Free Report) released its earnings results on Wednesday. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05), Zacks reports. Ocugen had a negative net margin of 532.51% and a negative return on equity of 154.75%. The company had revenue of $0.76 million during the quarter, compared to the consensus estimate of $0.30 million. During the same quarter in the prior year, the firm earned ($0.03) EPS.
Ocugen Stock Performance
Shares of NASDAQ OCGN opened at $0.57 on Thursday. The business’s 50-day simple moving average is $0.73 and its 200-day simple moving average is $0.91. Ocugen has a 52 week low of $0.55 and a 52 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 cap of $167.07 million, a price-to-earnings ratio of -3.19 and a beta of 3.88.
Analysts Set New Price Targets
OCGN has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of Ocugen in a research report on Thursday. Chardan Capital raised their price objective on shares of Ocugen from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday.
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.
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