Weiss Ratings Reaffirms Sell (E+) Rating for Ocugen (NASDAQ:OCGN)

Key Points

• Weiss Ratings has reaffirmed a "Sell (E+)" rating for Ocugen (NASDAQ: OCGN), indicating a bearish outlook from the firm's analysts.
• Despite Weiss Ratings' negative stance, other analysts have varied views, with three providing a "Buy" rating and the average price target set at $6.00.
• Ocugen reported a revenue of $1.37 million for the last quarter, significantly above analysts' expectations of $0.35 million, though it posted a negative net margin of 1,197.71%.

Ocugen (NASDAQ:OCGN - Get Free Report)'s stock had its "sell (e+)" rating restated by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Ocugen from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. HC Wainwright reissued a "buy" rating and set a $7.00 target price on shares of Ocugen in a research note on Tuesday, June 24th. Finally, Chardan Capital reissued a "buy" rating and set a $7.00 target price on shares of Ocugen in a research note on Friday, September 19th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $6.00.

Ocugen Price Performance

Shares of NASDAQ:OCGN opened at $1.79 on Wednesday. The company has a debt-to-equity ratio of 9.18, a current ratio of 1.83 and a quick ratio of 1.83. Ocugen has a 1-year low of $0.52 and a 1-year high of $1.90. The company has a market capitalization of $523.22 million, a P/E ratio of -8.95 and a beta of 4.20. The firm's 50 day simple moving average is $1.21 and its two-hundred day simple moving average is $0.99.

Ocugen (NASDAQ:OCGN - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating 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 255.25%. The firm had revenue of $1.37 million for the quarter, compared to analysts' expectations of $0.35 million. Research analysts expect that Ocugen will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. purchased a new position in Ocugen during the 1st quarter valued at about $28,000. Vanguard Personalized Indexing Management LLC increased its position in Ocugen by 48.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,871 shares of the company's stock valued at $29,000 after purchasing an additional 9,791 shares during the period. BNP Paribas Financial Markets increased its position in Ocugen by 56.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company's stock valued at $36,000 after purchasing an additional 13,326 shares during the period. NewEdge Advisors LLC increased its position in Ocugen by 198.0% during the 2nd quarter. NewEdge Advisors LLC now owns 36,814 shares of the company's stock valued at $36,000 after purchasing an additional 24,460 shares during the period. Finally, Baader Bank Aktiengesellschaft increased its position in Ocugen by 108.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 38,142 shares of the company's stock valued at $37,000 after purchasing an additional 19,876 shares during the period. Hedge funds and other 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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