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) - Investment analysts at Chardan Capital upped their FY2025 earnings per share estimates for Ocugen in a note issued to investors on Monday, August 4th. Chardan Capital analyst D. Gataulin now anticipates that the company will post earnings per share of ($0.24) for the year, up from their prior forecast of ($0.25). Chardan Capital currently has a "Buy" rating and a $7.00 target price on the stock. The consensus estimate for Ocugen's current full-year earnings is ($0.20) per share.

Separately, HC Wainwright reiterated a "buy" rating and issued a $7.00 price target on shares of Ocugen in a research report on Tuesday, June 24th.

Ocugen Price Performance

NASDAQ OCGN traded down $0.01 during midday trading on Thursday, hitting $0.99. The company had a trading volume of 1,880,726 shares, compared to its average volume of 4,615,454. The company has a market capitalization of $287.92 million, a PE ratio of -4.93 and a beta of 3.84. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 9.18. The firm has a 50-day moving average price of $1.04 and a 200-day moving average price of $0.81. Ocugen has a twelve month low of $0.52 and a twelve month high of $1.40.

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, beating analysts' consensus estimates of ($0.06) by $0.01. The firm had revenue of $1.37 million during the quarter, compared to the consensus estimate of $0.35 million. Ocugen had a negative return on equity of 255.25% and a negative net margin of 1,197.71%.

Institutional Trading of Ocugen

Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in shares of Ocugen in the fourth quarter valued at $1,681,000. GMT Capital Corp raised its holdings in Ocugen by 69.2% during the 1st quarter. GMT Capital Corp now owns 4,153,798 shares of the company's stock valued at $2,934,000 after buying an additional 1,698,840 shares during the last quarter. Nuveen LLC purchased a new position in Ocugen during the 1st quarter valued at about $535,000. GSA Capital Partners LLP increased its holdings in Ocugen by 43.0% during the 1st quarter. GSA Capital Partners LLP now owns 1,638,033 shares of the company's stock valued at $1,157,000 after purchasing an additional 492,300 shares during the period. Finally, Jane Street Group LLC increased its holdings in Ocugen by 258.8% during the 4th quarter. Jane Street Group LLC now owns 496,177 shares of the company's stock valued at $399,000 after purchasing an additional 357,891 shares during the period. 10.27% of the stock is owned by hedge funds and other institutional investors.

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.