Ocugen's (OCGN) "Buy" Rating Reaffirmed at HC Wainwright

Ocugen (NASDAQ:OCGN - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $7.00 price target on the stock.

Separately, Chardan Capital reaffirmed a "buy" rating and set a $7.00 target price on shares of Ocugen in a report on Tuesday.

Ocugen Stock Performance

Ocugen stock opened at $0.98 on Tuesday. The firm's fifty day moving average price is $0.85 and its 200-day moving average price is $0.76. The company has a debt-to-equity ratio of 1.74, a quick ratio of 2.60 and a current ratio of 2.60. The stock has a market cap of $286.51 million, a P/E ratio of -5.16 and a beta of 4.20. Ocugen has a fifty-two week low of $0.52 and a fifty-two week high of $1.98.

Ocugen (NASDAQ:OCGN - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. Ocugen had a negative net margin of 1,271.12% and a negative return on equity of 223.00%. The firm had revenue of $1.48 million for the quarter. On average, equities research analysts expect that Ocugen will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ocugen

Large investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new stake in Ocugen in the 1st quarter worth $28,000. BNP Paribas Financial Markets bought a new stake in shares of Ocugen during the 4th quarter valued at about $30,000. Ameriprise Financial Inc. bought a new stake in shares of Ocugen during the 4th quarter valued at about $30,000. Virtu Financial LLC bought a new stake in shares of Ocugen during the 4th quarter valued at about $32,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Ocugen by 309.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 39,848 shares of the company's stock valued at $32,000 after purchasing an additional 30,120 shares in the last quarter. Institutional investors own 10.27% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.