Ocugen (NASDAQ:OCGN) Price Target Cut to $7.00 by Analysts at HC Wainwright

Ocugen (NASDAQ:OCGN - Get Free Report) had its price objective dropped by research analysts at HC Wainwright from $8.00 to $7.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock.

Separately, Chardan Capital reissued a "buy" rating and issued a $7.00 price objective on shares of Ocugen in a research report on Monday.

Ocugen Stock Performance

Shares of Ocugen stock traded up $0.01 on Monday, reaching $0.68. 324,933 shares of the stock were exchanged, compared to its average volume of 4,538,956. Ocugen has a 1-year low of $0.52 and a 1-year high of $2.06. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average price of $0.66 and a two-hundred day moving average price of $0.76. The firm has a market capitalization of $199.16 million, a PE ratio of -3.82 and a beta of 4.21.

Ocugen (NASDAQ:OCGN - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $1.48 million for the quarter. Ocugen had a negative net margin of 532.51% and a negative return on equity of 154.75%. As a group, research analysts anticipate that Ocugen will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ocugen

Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its position in Ocugen by 12.9% in the 4th quarter. Rhumbline Advisers now owns 324,475 shares of the company's stock valued at $261,000 after purchasing an additional 37,034 shares during the last quarter. Geode Capital Management LLC lifted its position in Ocugen by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 6,588,407 shares of the company's stock valued at $5,305,000 after purchasing an additional 309,853 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Ocugen by 12.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 860,244 shares of the company's stock worth $692,000 after buying an additional 93,288 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Ocugen by 72.7% during the 4th quarter. SG Americas Securities LLC now owns 152,176 shares of the company's stock worth $123,000 after buying an additional 64,080 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Ocugen during the 4th quarter worth about $40,000. 10.27% of the stock is owned by institutional investors.

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.

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