Ocugen (NASDAQ:OCGN) Posts Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• Ocugen reported a quarterly loss of ($0.05) EPS, surpassing analysts' expectations by $0.01, while generating $1.37 million in revenue compared to estimates of $0.35 million.
• The company's shares opened at $0.99, with a market capitalization of $290.16 million and a significant negative net margin of 1,271.12%.
• Analysts from Chardan Capital and HC Wainwright both maintained a "buy" rating on Ocugen, setting a target price of $7.00 per share.

Ocugen (NASDAQ:OCGN - Get Free Report) issued its quarterly earnings data on Friday. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01, Zacks reports. Ocugen had a negative net margin of 1,197.71% and a negative return on equity of 255.25%. The business had revenue of $1.37 million during the quarter, compared to analyst estimates of $0.35 million.

Ocugen Stock Performance

Shares of NASDAQ OCGN traded up $0.02 during midday trading on Thursday, reaching $0.98. The company had a trading volume of 910,661 shares, compared to its average volume of 4,638,417. The stock has a market cap of $285.87 million, a P/E ratio of -4.89 and a beta of 3.84. Ocugen has a 1 year low of $0.52 and a 1 year high of $1.40. The business's 50-day simple moving average is $1.03 and its 200 day simple moving average is $0.81. The company has a current ratio of 1.83, a quick ratio of 2.60 and a debt-to-equity ratio of 9.18.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Chardan Capital reissued a "buy" rating and set a $7.00 price target on shares of Ocugen in a research report on Monday. HC Wainwright reissued a "buy" rating and set a $7.00 price objective on shares of Ocugen in a research report on Tuesday, June 24th.

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.