What is HC Wainwright's Estimate for Ocugen FY2029 Earnings?

Key Points

• HC Wainwright lowered its FY2029 EPS estimate for Ocugen to $0.06, down from $0.14 previously; it forecasts FY2030 EPS of $0.98.
• Ocugen’s current full-year consensus estimate remains a loss of $0.25 per share, while its latest quarterly loss of $0.07 per share missed analysts’ expectations.
• Analyst sentiment is mixed but leans positive: Ocugen has an average “Moderate Buy” rating and a consensus price target of $9.50, despite shares opening at $1.02 and trading near their 52-week low.

Ocugen, Inc. (NASDAQ:OCGN - Free Report) - Equities researchers at HC Wainwright dropped their FY2029 earnings estimates for shares of Ocugen in a note issued to investors on Thursday, September 10th. HC Wainwright analyst S. Ramakanth now anticipates that the company will post earnings per share of $0.06 for the year, down from their previous estimate of $0.14. The consensus estimate for Ocugen's current full-year earnings is ($0.25) per share. HC Wainwright also issued estimates for Ocugen's FY2030 earnings at $0.98 EPS.

A number of other analysts have also recently weighed in on OCGN. Wall Street Zen cut Ocugen from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Canaccord Genuity Group cut their price target on Ocugen from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. Finally, Weiss Ratings raised Ocugen from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Ocugen currently has an average rating of "Moderate Buy" and a consensus price target of $9.50.

Ocugen Stock Performance

NASDAQ OCGN opened at $1.02 on Friday. The firm has a market cap of $347.59 million, a P/E ratio of -3.94 and a beta of 2.20. Ocugen has a 52-week low of $1.01 and a 52-week high of $2.73. The business's 50-day moving average price is $1.34 and its 200 day moving average price is $1.54. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 4.17.

Ocugen (NASDAQ:OCGN - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.02). The business had revenue of $1.49 million for the quarter, compared to the consensus estimate of $0.89 million.

Insider Buying and Selling

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

Hedge Funds Weigh In On Ocugen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. boosted its holdings in Ocugen by 121.7% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 2,830,397 shares of the company's stock worth $4,331,000 after buying an additional 1,553,672 shares in the last quarter. BlackRock Inc. purchased a new position in Ocugen in the second quarter valued at about $41,314,000. Bank of America Corp DE lifted its position in shares of Ocugen by 1,090.0% during the 1st quarter. Bank of America Corp DE now owns 1,174,180 shares of the company's stock valued at $2,125,000 after acquiring an additional 1,075,508 shares during the period. UBS Group AG lifted its position in shares of Ocugen by 373.2% during the 4th quarter. UBS Group AG now owns 4,849,353 shares of the company's stock valued at $6,547,000 after acquiring an additional 3,824,474 shares during the period. Finally, Headlands Technologies LLC boosted its stake in shares of Ocugen by 527.1% during the 2nd quarter. Headlands Technologies LLC now owns 511,575 shares of the company's stock worth $783,000 after acquiring an additional 429,997 shares in the last quarter. Institutional investors and hedge funds own 10.27% of the company's stock.

About Ocugen

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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