Ocugen, Inc. (NASDAQ:OCGN) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately bullish: Four of five analysts rate Ocugen a buy, while one rates it a sell, producing a consensus “Moderate Buy” rating and an average 12-month price target of $9.50.
• Insider and institutional activity has been positive: CFO Treerita Essali Johnson-Greene purchased 21,000 shares at $1.23 each, while several institutional investors increased or initiated positions. Insiders own 3.95% of the stock and institutions own 10.27%.
• Shares remain under pressure: OCGN opened at $1.35 after falling 3.6%, with a 52-week range of $0.98 to $2.73. Ocugen reported a quarterly loss of $0.07 per share, missing estimates by $0.02, despite revenue of $1.49 million exceeding expectations.

Shares of Ocugen, Inc. (NASDAQ:OCGN - Get Free Report) have received a consensus rating of "Moderate Buy" from the five brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $9.50.

Several research analysts recently commented on OCGN shares. Weiss Ratings upgraded shares of Ocugen from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday. Wall Street Zen lowered shares of Ocugen from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Finally, Canaccord Genuity Group cut their price target on shares of Ocugen from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th.

Insider Buying and Selling at Ocugen

In related news, CFO Treerita Essali Johnson-Greene bought 21,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average price of $1.23 per share, with a total value of $25,830.00. Following the completion of the transaction, the chief financial officer owned 521,000 shares in the company, valued at $640,830. The trade was a 4.20% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Cora Capital Advisors LLC increased its position in shares of Ocugen by 27.5% during the 4th quarter. Cora Capital Advisors LLC now owns 30,143 shares of the company's stock worth $41,000 after purchasing an additional 6,500 shares during the last quarter. Jain Global LLC boosted its holdings in shares of Ocugen by 7.2% in the 4th quarter. Jain Global LLC now owns 114,690 shares of the company's stock valued at $155,000 after buying an additional 7,686 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Ocugen by 56.7% in the second quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company's stock valued at $36,000 after buying an additional 13,326 shares in the last quarter. CTC Alternative Strategies Ltd. bought a new position in shares of Ocugen in the first quarter valued at $34,000. Finally, Diversify Advisory Services LLC acquired a new position in Ocugen during the second quarter worth $25,000. 10.27% of the stock is currently owned by institutional investors.

Ocugen Trading Down 3.6%

NASDAQ OCGN opened at $1.35 on Friday. The stock has a market capitalization of $457.80 million, a price-to-earnings ratio of -5.19 and a beta of 2.21. The stock's 50 day moving average price is $1.34 and its two-hundred day moving average price is $1.56. The company has a debt-to-equity ratio of 4.17, a quick ratio of 0.80 and a current ratio of 0.80. Ocugen has a 52 week low of $0.98 and a 52 week high of $2.73.

Ocugen (NASDAQ:OCGN - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.02). The business had revenue of $1.49 million during the quarter, compared to analysts' expectations of $0.89 million. As a group, analysts anticipate that Ocugen will post -0.25 earnings per share for the current fiscal year.

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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