Ocugen, Inc. (NASDAQ:OCGN) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts rate Ocugen “Moderate Buy”: Four of five covering firms recommend buying the stock, while one rates it a sell. The average 12-month price target is $9.50.
• Insider and institutional interest increased: CFO Treerita Johnson-Greene bought 21,000 shares, and several institutional investors initiated or expanded positions. Insiders own 3.95% of the company, while institutions own 10.27%.
• Ocugen shares opened at $1.36, versus a 52-week range of $1.01 to $2.73. The company reported a quarterly loss of $0.07 per share, missing estimates, although revenue of $1.49 million exceeded expectations.

Ocugen, Inc. (NASDAQ:OCGN - Get Free Report) has been given an average recommendation of "Moderate Buy" by the five research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $9.50.

A number of brokerages have weighed in on OCGN. Weiss Ratings upgraded shares of Ocugen from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Canaccord Genuity Group dropped their price target on Ocugen from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. Finally, Wall Street Zen lowered Ocugen from a "hold" rating to a "sell" rating in a report on Saturday, August 8th.

Insider Transactions at Ocugen

In other news, CFO Treerita Johnson-Greene purchased 21,000 shares of the business's stock in a transaction on Monday, June 15th. The stock was acquired at an average cost of $1.23 per share, for a total transaction of $25,830.00. Following the purchase, the chief financial officer directly owned 521,000 shares in the company, valued at $640,830. This trade represents a 4.20% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.95% of the company's stock.

Hedge Funds Weigh In On Ocugen

Several institutional investors have recently made changes to their positions in the business. Creative Planning bought a new stake in Ocugen during the second quarter valued at approximately $57,000. XTX Topco Ltd bought a new position in Ocugen in the second quarter worth approximately $203,000. Jump Financial LLC bought a new position in Ocugen in the second quarter worth approximately $57,000. Qube Research & Technologies Ltd purchased a new position in shares of Ocugen during the 2nd quarter worth $188,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Ocugen by 198.0% during the 2nd quarter. NewEdge Advisors LLC now owns 36,814 shares of the company's stock worth $36,000 after acquiring an additional 24,460 shares during the last quarter. Institutional investors own 10.27% of the company's stock.

Ocugen Price Performance

OCGN opened at $1.36 on Tuesday. The company's 50-day simple moving average is $1.36 and its two-hundred day simple moving average is $1.55. The company has a debt-to-equity ratio of 4.17, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $461.19 million, a P/E ratio of -5.23 and a beta of 2.20. Ocugen has a 52-week low of $1.01 and a 52-week high of $2.73.

Ocugen (NASDAQ:OCGN - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $1.49 million for the quarter, compared to analysts' expectations of $0.89 million. As a group, analysts predict that Ocugen will post -0.25 EPS for the current year.

Ocugen Company Profile

Ocugen Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing gene therapies to treat rare inherited retinal diseases, as well as vaccines designed to address unmet needs in infectious diseases. Headquartered in Malvern, Pennsylvania, the company applies its proprietary gene therapy platform to create novel treatments aimed at preserving and restoring vision, while leveraging strategic partnerships to broaden its vaccine pipeline.

In its gene therapy portfolio, Ocugen is advancing multiple programs targeting retinal disorders.

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