Ocugen, Inc. (NASDAQ:OCGN) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Ocugen has a consensus analyst rating of “Moderate Buy”, based on five covering firms: four rate it a buy and one rates it a sell. The average 1-year price target is $9.50.
• The stock recently traded around $1.36, far below its analyst price targets, with a 52-week range of $0.93 to $2.73. Ocugen also carries a high beta of 2.18, indicating elevated volatility.
• Recent company updates include a quarterly earnings miss on EPS, though revenue came in above expectations. Separately, Ocugen’s CFO bought 21,000 shares, signaling insider confidence.

Ocugen, Inc. (NASDAQ:OCGN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the five ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $9.50.

A number of research firms have recently commented on OCGN. HC Wainwright boosted their price objective on Ocugen from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, March 25th. Wall Street Zen raised Ocugen from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings cut shares of Ocugen from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 23rd. Canaccord Genuity Group cut their price target on shares of Ocugen from $12.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, May 27th. Finally, Chardan Capital restated a "buy" rating and set a $7.00 price objective on shares of Ocugen in a research report on Wednesday, March 25th.

Ocugen Price Performance

NASDAQ OCGN opened at $1.36 on Monday. Ocugen has a 12 month low of $0.93 and a 12 month high of $2.73. The firm has a market capitalization of $460.39 million, a PE ratio of -5.67 and a beta of 2.18. The company's 50 day simple moving average is $1.38 and its 200 day simple moving average is $1.60. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.86 and a quick ratio of 1.86.

Ocugen (NASDAQ:OCGN - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). The business had revenue of $1.53 million during the quarter, compared to analysts' expectations of $0.42 million. As a group, equities research analysts forecast that Ocugen will post -0.22 EPS for the current fiscal year.

Insider Activity at Ocugen

In other Ocugen news, CFO Treerita Essali Johnson-Greene bought 21,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average cost of $1.23 per share, with a total value of $25,830.00. Following the completion of the purchase, 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 SEC, which is available through this link. 3.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Cora Capital Advisors LLC raised its position in Ocugen by 27.5% during the fourth quarter. Cora Capital Advisors LLC now owns 30,143 shares of the company's stock valued at $41,000 after buying an additional 6,500 shares during the period. Jain Global LLC boosted its position in Ocugen by 7.2% during the 4th quarter. Jain Global LLC now owns 114,690 shares of the company's stock worth $155,000 after acquiring an additional 7,686 shares during the period. Procyon Advisors LLC boosted its position in Ocugen by 6.2% during the 4th quarter. Procyon Advisors LLC now owns 224,100 shares of the company's stock worth $303,000 after acquiring an additional 13,000 shares during the period. BNP Paribas Financial Markets grew its stake in Ocugen by 56.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company's stock valued at $36,000 after acquiring an additional 13,326 shares in the last quarter. Finally, CTC Alternative Strategies Ltd. purchased a new position in Ocugen during the 1st quarter valued at about $34,000. 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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