Ocugen's (OCGN) "Buy" Rating Reiterated at Chardan Capital

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.

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

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

Ocugen Trading Down 3.5%

Shares of NASDAQ OCGN opened at $0.99 on Monday. The stock has a market capitalization of $290.16 million, a P/E ratio of -4.97 and a beta of 3.84. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.60 and a quick ratio of 2.60. The business's 50 day moving average is $1.03 and its two-hundred day moving average is $0.81. Ocugen has a 1-year low of $0.52 and a 1-year high of $1.40.

Ocugen (NASDAQ:OCGN - Get Free Report) last posted 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. Ocugen had a negative net margin of 1,197.71% and a negative return on equity of 198.22%. The company had revenue of $1.37 million during the quarter, compared to analyst estimates of $0.35 million. As a group, research analysts expect that Ocugen will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Ocugen

Hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Ocugen during the first quarter valued at $28,000. Vanguard Personalized Indexing Management LLC grew its stake in Ocugen by 48.8% in 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 in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Ocugen during the fourth quarter worth approximately $30,000. Ameriprise Financial Inc. bought a new stake in shares of Ocugen during the fourth quarter valued at approximately $30,000. Finally, Tower Research Capital LLC TRC raised its stake 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 valued at $32,000 after acquiring an additional 30,120 shares in the last quarter. Institutional investors own 10.27% of the company's stock.

About Ocugen

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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