Ocugen, Inc. (NASDAQ:OCGN – Get Rating) has earned a consensus rating of “Hold” from the six research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $7.30.
A number of analysts have commented on OCGN shares. Chardan Capital decreased their price target on shares of Ocugen from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Monday, May 9th. HC Wainwright decreased their price target on shares of Ocugen from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, February 28th. Finally, Zacks Investment Research lowered shares of Ocugen from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 11th.
NASDAQ:OCGN opened at $2.23 on Friday. The company has a fifty day moving average of $2.77 and a 200-day moving average of $4.15. The firm has a market capitalization of $480.92 million, a P/E ratio of -6.56 and a beta of 4.59. The company has a quick ratio of 17.96, a current ratio of 17.96 and a debt-to-equity ratio of 0.01. Ocugen has a twelve month low of $1.67 and a twelve month high of $17.65.
Ocugen (NASDAQ:OCGN – Get Rating) last released its quarterly earnings data on Friday, May 6th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.14). On average, analysts anticipate that Ocugen will post -0.3 EPS for the current fiscal year.
In other Ocugen news, CEO Shankar Musunuri sold 125,000 shares of Ocugen stock in a transaction on Friday, May 13th. The shares were sold at an average price of $1.92, for a total transaction of $240,000.00. Following the transaction, the chief executive officer now directly owns 752,540 shares of the company’s stock, valued at approximately $1,444,876.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 214,323 shares of company stock worth $478,056 over the last ninety days. Insiders own 3.65% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of OCGN. Moors & Cabot Inc. purchased a new position in Ocugen during the 3rd quarter worth $26,000. Kings Point Capital Management purchased a new position in shares of Ocugen in the 3rd quarter worth about $31,000. IHT Wealth Management LLC purchased a new position in shares of Ocugen in the 1st quarter worth about $33,000. Mackenzie Financial Corp purchased a new position in shares of Ocugen in the 1st quarter worth about $34,000. Finally, Nisa Investment Advisors LLC purchased a new position in shares of Ocugen in the 4th quarter worth about $46,000. 39.70% of the stock is currently owned by hedge funds and other institutional investors.
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.