Ocugen (NASDAQ:OCGN) Releases Earnings Results, Beats Expectations 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) announced its quarterly earnings data on Friday. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01, Zacks reports. The firm had revenue of $1.37 million during the quarter, compared to analyst estimates of $0.35 million. Ocugen had a negative net margin of 1,197.71% and a negative return on equity of 198.22%.

Ocugen Trading Down 2.5%

Ocugen stock traded down $0.03 during mid-day trading on Tuesday, reaching $0.98. 1,037,215 shares of the company traded hands, compared to its average volume of 4,664,268. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.60 and a quick ratio of 2.60. The firm's 50 day moving average price is $1.03 and its 200 day moving average price is $0.81. The firm has a market capitalization of $284.73 million, a price-to-earnings ratio of -4.87 and a beta of 3.84. Ocugen has a 52-week low of $0.52 and a 52-week high of $1.40.

Analyst Upgrades and Downgrades

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

About Ocugen

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.