Ocugen (NASDAQ:OCGN - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $7.00 price target on the stock.
Separately, Chardan Capital restated a "buy" rating and set a $7.00 target price on shares of Ocugen in a research report on Tuesday.
Get Our Latest Analysis on OCGN
Ocugen Price Performance
Shares of NASDAQ OCGN traded down $0.02 during trading on Tuesday, reaching $1.02. The company had a trading volume of 9,221,192 shares, compared to its average volume of 4,597,306. Ocugen has a 52 week low of $0.52 and a 52 week high of $1.98. The business's 50 day moving average price is $0.87 and its 200-day moving average price is $0.76. The stock has a market cap of $296.41 million, a PE ratio of -5.34 and a beta of 4.20. The company has a debt-to-equity ratio of 1.74, a quick ratio of 2.60 and a current ratio of 2.60.
Ocugen (NASDAQ:OCGN - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. The firm had revenue of $1.48 million for the quarter. Ocugen had a negative return on equity of 223.00% and a negative net margin of 1,271.12%. Analysts expect that Ocugen will post -0.2 earnings per share for the current year.
Institutional Investors Weigh In On Ocugen
A number of institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. acquired a new position in Ocugen in the first quarter valued at about $28,000. BNP Paribas Financial Markets bought a new stake in shares of Ocugen in the 4th quarter valued at about $30,000. Ameriprise Financial Inc. acquired a new stake in shares of Ocugen in the 4th quarter valued at approximately $30,000. Virtu Financial LLC bought a new position in Ocugen during the 4th quarter worth approximately $32,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Ocugen by 309.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 39,848 shares of the company's stock worth $32,000 after purchasing an additional 30,120 shares in the last quarter. 10.27% of the stock is owned by institutional investors and hedge funds.
About Ocugen
(
Get Free Report)
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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