FY2025 EPS Estimates for Ocugen Increased by Chardan Capital

Key Points

• Chardan Capital has increased its FY2025 earnings per share estimate for Ocugen to ($0.24), up from a previous estimate of ($0.25), maintaining a "Buy" rating with a $7.00 price target.
• In their most recent quarterly earnings, Ocugen reported an earnings per share of ($0.05), which exceeded analysts' expectations of ($0.06), and the company generated $1.37 million in revenue for the quarter.
• Institutional investors have shown increased interest in Ocugen, with various firms, including Geode Capital and JPMorgan Chase & Co., significantly raising their stakes in the company.

Ocugen, Inc. (NASDAQ:OCGN - Free Report) - Equities researchers at Chardan Capital upped their FY2025 earnings estimates for shares of Ocugen in a research report issued to clients and investors on Monday, August 4th. Chardan Capital analyst D. Gataulin now forecasts that the company will post earnings per share of ($0.24) for the year, up from their prior forecast of ($0.25). Chardan Capital has a "Buy" rating and a $7.00 price target on the stock. The consensus estimate for Ocugen's current full-year earnings is ($0.20) per share.

Ocugen (NASDAQ:OCGN - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. Ocugen had a negative return on equity of 255.25% and a negative net margin of 1,197.71%. The business had revenue of $1.37 million for the quarter, compared to the consensus estimate of $0.35 million.

Separately, HC Wainwright reissued a "buy" rating and set a $7.00 price objective on shares of Ocugen in a report on Tuesday, June 24th.

Ocugen Stock Up 0.3%

OCGN stock opened at $0.96 on Thursday. The company has a current ratio of 1.83, a quick ratio of 2.60 and a debt-to-equity ratio of 9.18. The stock has a market cap of $280.12 million, a P/E ratio of -4.79 and a beta of 3.84. Ocugen has a 1-year low of $0.52 and a 1-year high of $1.40. The stock's fifty day simple moving average is $1.03 and its two-hundred day simple moving average is $0.81.

Institutional Investors Weigh In On Ocugen

Several hedge funds have recently added to or reduced their stakes in OCGN. Geode Capital Management LLC raised its position in Ocugen by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 6,588,407 shares of the company's stock worth $5,305,000 after purchasing an additional 309,853 shares during the period. Ameriprise Financial Inc. bought a new position in Ocugen during the 4th quarter worth approximately $30,000. Invesco Ltd. lifted its position in Ocugen by 39.0% in the fourth quarter. Invesco Ltd. now owns 173,553 shares of the company's stock valued at $140,000 after purchasing an additional 48,679 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Ocugen by 10.5% in the fourth quarter. Wellington Management Group LLP now owns 507,495 shares of the company's stock worth $409,000 after purchasing an additional 48,393 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Ocugen by 149.2% during the 4th quarter. JPMorgan Chase & Co. now owns 296,615 shares of the company's stock valued at $239,000 after buying an additional 177,594 shares during the last quarter. Institutional investors 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.

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