Ocugen (NASDAQ:OCGN – Get Rating) had its price target reduced by Chardan Capital from $4.00 to $3.50 in a report released on Monday, The Fly reports. The firm presently has a “neutral” rating on the stock. Chardan Capital’s price target would suggest a potential upside of 62.04% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the company. HC Wainwright reduced their price target on Ocugen from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, February 28th. Zacks Investment Research raised shares of Ocugen from a “sell” rating to a “hold” rating in a research note on Thursday, March 10th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.67.
Shares of OCGN opened at $2.16 on Monday. The company has a market capitalization of $465.83 million, a price-to-earnings ratio of -6.35 and a beta of 4.59. Ocugen has a 52 week low of $2.10 and a 52 week high of $17.65. The stock’s 50-day moving average price is $2.91 and its 200-day moving average price is $4.75. The company has a quick ratio of 14.66, a current ratio of 14.66 and a debt-to-equity ratio of 0.02.
Ocugen (NASDAQ:OCGN – Get Rating) last posted its earnings results on Friday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.14). As a group, equities analysts anticipate that Ocugen will post 0.01 EPS for the current fiscal year.
In other Ocugen news, CEO Shankar Musunuri sold 81,823 shares of the stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $2.65, for a total value of $216,830.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.65% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Arizona State Retirement System raised its position in shares of Ocugen by 5.6% during the 3rd quarter. Arizona State Retirement System now owns 53,996 shares of the company’s stock worth $388,000 after acquiring an additional 2,868 shares in the last quarter. Principal Financial Group Inc. increased its position in Ocugen by 4.3% during the third quarter. Principal Financial Group Inc. now owns 76,082 shares of the company’s stock worth $546,000 after buying an additional 3,139 shares during the period. Kings Point Capital Management acquired a new position in Ocugen during the third quarter worth approximately $31,000. Meeder Asset Management Inc. acquired a new position in Ocugen during the third quarter worth approximately $32,000. Finally, Mackenzie Financial Corp increased its position in Ocugen by 11.9% during the third quarter. Mackenzie Financial Corp now owns 42,419 shares of the company’s stock worth $305,000 after buying an additional 4,496 shares during the period. 39.70% of the stock is currently owned by institutional investors and hedge funds.
Ocugen Company Profile (Get Rating)
Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases. 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, such as retinitis pigmentosa and leber congenital amaurosis; OCU410, gene therapy candidate for the treatment of dry age-related macular degeneration (AMD); and OCU200, a novel fusion protein that is in preclinical development stage for the treatment of diabetic macular edema, diabetic retinopathy, and wet AMD.