Ocugen (NASDAQ:OCGN) Given New $7.00 Price Target at HC Wainwright

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Ocugen (NASDAQ:OCGN - Get Free Report) had its target price upped by analysts at HC Wainwright from $5.00 to $7.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock.

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Ocugen Stock Performance

Shares of OCGN stock opened at $0.53 on Wednesday. The firm has a 50-day moving average of $0.47 and a 200-day moving average of $0.46. The company has a market cap of $136.89 million, a P/E ratio of -1.62 and a beta of 3.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.08 and a quick ratio of 5.08. Ocugen has a one year low of $0.35 and a one year high of $1.40.

Ocugen (NASDAQ:OCGN - Get Free Report) last announced its earnings results on Thursday, November 9th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. Equities research analysts forecast that Ocugen will post -0.3 EPS for the current fiscal year.

Institutional Trading of Ocugen

A number of large investors have recently added to or reduced their stakes in OCGN. JPMorgan Chase & Co. increased its holdings in Ocugen by 20.9% during the first quarter. JPMorgan Chase & Co. now owns 4,015,742 shares of the company's stock worth $13,251,000 after buying an additional 693,786 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in Ocugen during the first quarter worth about $47,000. Cetera Investment Advisers purchased a new stake in Ocugen during the first quarter worth about $50,000. Vanguard Group Inc. increased its holdings in Ocugen by 2.8% during the first quarter. Vanguard Group Inc. now owns 10,906,557 shares of the company's stock worth $35,991,000 after buying an additional 301,063 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in Ocugen during the first quarter worth about $34,000. Hedge funds and other institutional investors own 21.50% of the company's stock.

About Ocugen

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Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases. 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, such as retinitis pigmentosa and leber congenital amaurosis; OCU410 and OCU410ST for the treatment of dry age-related macular degeneration (AMD); and OCU200, a novel fusion protein that is in preclinical development stage for the treatment of diabetic macular edema, diabetic retinopathy, and wet AMD.

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