Chardan Capital Reaffirms Buy Rating for Ocugen (NASDAQ:OCGN)

Key Points

• Ocugen's stock received a "buy" rating from Chardan Capital with a price target of $7.00, which was also reiterated by HC Wainwright.
• In its latest earnings report, Ocugen reported an EPS of ($0.05), exceeding expectations of ($0.06), with substantial revenue of $1.37 million for the quarter.
• The company currently has a market capitalization of $290.16 million and a debt-to-equity ratio of 1.74, indicating potential financial leverage concerns.

Chardan Capital reiterated their buy rating on shares of Ocugen (NASDAQ:OCGN - Free Report) in a research note issued to investors on Monday,Benzinga reports. Chardan Capital currently has a $7.00 price objective on the stock. Chardan Capital also issued estimates for Ocugen's FY2025 earnings at ($0.24) EPS.

Separately, HC Wainwright reiterated a "buy" rating and issued a $7.00 price objective on shares of Ocugen in a report on Tuesday, June 24th.

Ocugen Stock Down 0.2%

Shares of NASDAQ:OCGN traded down $0.00 during midday trading on Monday, reaching $1.00. The company had a trading volume of 2,056,346 shares, compared to its average volume of 4,630,965. Ocugen has a 1-year low of $0.52 and a 1-year high of $1.40. The stock has a market cap of $291.83 million, a PE ratio of -4.99 and a beta of 3.84. The company has a quick ratio of 2.60, a current ratio of 1.83 and a debt-to-equity ratio of 9.18. The business's 50 day moving average price is $1.03 and its 200 day moving average price is $0.81.

Ocugen (NASDAQ:OCGN - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. 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 $1.37 million for 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 255.25%. Research analysts forecast that Ocugen will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Ocugen

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC grew 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 purchasing an additional 9,791 shares in the last quarter. Invesco Ltd. increased its position in Ocugen by 8.7% during the 1st quarter. Invesco Ltd. now owns 188,678 shares of the company's stock worth $133,000 after purchasing an additional 15,125 shares in the last quarter. Baader Bank Aktiengesellschaft increased its holdings in shares of Ocugen by 108.8% during the second quarter. Baader Bank Aktiengesellschaft now owns 38,142 shares of the company's stock worth $37,000 after buying an additional 19,876 shares in the last quarter. XTX Topco Ltd increased its holdings in Ocugen by 8.5% in the 4th quarter. XTX Topco Ltd now owns 254,995 shares of the company's stock worth $205,000 after purchasing an additional 19,894 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Ocugen by 6.4% in the 1st quarter. Rhumbline Advisers now owns 345,130 shares of the company's stock worth $244,000 after purchasing an additional 20,655 shares in the last quarter. Institutional investors and hedge funds 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.