Ocugen (NASDAQ:OCGN) Receives "Sell (E+)" Rating from Weiss Ratings

Key Points

• Ocugen (NASDAQ:OCGN) has received a "sell (E+)" rating from Weiss Ratings, while Wall Street Zen upgraded the stock from "sell" to "hold".
• The stock currently has an average rating of "Hold" with a consensus price target of $7.00 after a recent report from Chardan Capital gave it a "buy" rating.
• Ocugen recently reported earnings that exceeded expectations, posting an EPS of ($0.05) compared to a consensus estimate of ($0.06) but continues to experience significant net losses.

Ocugen (NASDAQ:OCGN - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by investment analysts at Weiss Ratings in a note issued to investors on Saturday,Weiss Ratings reports.

Several other research analysts also recently commented on the stock. Wall Street Zen raised shares of Ocugen from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. Chardan Capital reissued a "buy" rating and issued a $7.00 price target on shares of Ocugen in a report on Friday, September 19th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Ocugen currently has an average rating of "Hold" and a consensus price target of $7.00.

Ocugen Stock Up 5.2%

OCGN opened at $1.61 on Friday. The company has a 50 day moving average of $1.36 and a 200 day moving average of $1.07. The company has a market cap of $470.60 million, a PE ratio of -8.05 and a beta of 4.20. Ocugen has a 12 month low of $0.52 and a 12 month high of $1.90. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 9.18.

Ocugen (NASDAQ:OCGN - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $1.37 million during the quarter, compared to the consensus estimate of $0.35 million. Ocugen had a negative net margin of 1,197.71% and a negative return on equity of 255.25%. On average, sell-side analysts expect that Ocugen will post -0.2 EPS for the current year.

Institutional Trading of Ocugen

Hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Ocugen during the 1st quarter worth $28,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Ocugen by 48.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,871 shares of the company's stock worth $29,000 after acquiring an additional 9,791 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Ocugen by 56.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company's stock worth $36,000 after acquiring an additional 13,326 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Ocugen by 198.0% during the 2nd quarter. NewEdge Advisors LLC now owns 36,814 shares of the company's stock worth $36,000 after acquiring an additional 24,460 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its holdings in shares of Ocugen by 108.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 38,142 shares of the company's stock worth $37,000 after acquiring an additional 19,876 shares during the last quarter. 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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