Ocugen (NASDAQ:OCGN - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They currently have a $7.00 target price on the stock. HC Wainwright's target price would suggest a potential upside of 365.12% from the stock's current price.
Ocugen Stock Performance
NASDAQ:OCGN traded up $0.12 during trading hours on Wednesday, hitting $1.51. 10,000,929 shares of the company traded hands, compared to its average volume of 7,911,636. The stock has a market capitalization of $386.03 million, a price-to-earnings ratio of -4.56 and a beta of 3.51. Ocugen has a twelve month low of $0.35 and a twelve month high of $2.11. The firm has a 50-day moving average of $0.97 and a 200 day moving average of $0.63. The company has a current ratio of 5.08, a quick ratio of 5.08 and a debt-to-equity ratio of 0.03.
Hedge Funds Weigh In On Ocugen
Hedge funds have recently made changes to their positions in the business. IHT Wealth Management LLC acquired a new position in shares of Ocugen in the 1st quarter valued at $33,000. Mackenzie Financial Corp acquired a new position in shares of Ocugen in the 1st quarter valued at $34,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Ocugen in the 1st quarter valued at $47,000. Cetera Investment Advisers acquired a new position in shares of Ocugen in the 1st quarter valued at $50,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Ocugen in the 1st quarter valued at $25,000. Institutional investors and hedge funds own 10.27% 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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