Ocugen (NASDAQ:OCGN) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Ocugen (NASDAQ:OCGN) from a sell rating to a hold rating in a report issued on Saturday morning.

Several other brokerages have also recently weighed in on OCGN. HC Wainwright increased their price target on Ocugen from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, March 25th. Canaccord Genuity Group initiated coverage on Ocugen in a research note on Tuesday, March 17th. They issued a “buy” rating and a $12.00 price target for the company. Chardan Capital reissued a “buy” rating and issued a $7.00 price target on shares of Ocugen in a research note on Wednesday, March 25th. Oppenheimer assumed coverage on Ocugen in a research note on Wednesday, March 11th. They issued an “outperform” rating and a $10.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ocugen in a research note on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ocugen has a consensus rating of “Moderate Buy” and a consensus target price of $9.75.

Ocugen Trading Down 4.8%

Shares of OCGN stock opened at $1.39 on Friday. The stock has a market cap of $470.54 million, a price-to-earnings ratio of -5.79 and a beta of 2.30. The stock has a 50-day moving average of $1.82 and a 200-day moving average of $1.58. The company has a current ratio of 1.86, a quick ratio of 1.06 and a debt-to-equity ratio of 4.17. Ocugen has a 1-year low of $0.68 and a 1-year high of $2.73.

Ocugen (NASDAQ:OCGN) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $1.53 million during the quarter, compared to analyst estimates of $0.42 million. Ocugen had a negative net margin of 1,192.18% and a negative return on equity of 127,987.80%. On average, equities research analysts forecast that Ocugen will post -0.22 earnings per share for the current year.

Institutional Investors Weigh In On Ocugen

Several large investors have recently added to or reduced their stakes in the business. Cora Capital Advisors LLC grew its stake in Ocugen by 27.5% during the fourth quarter. Cora Capital Advisors LLC now owns 30,143 shares of the company’s stock worth $41,000 after purchasing an additional 6,500 shares during the period. Jain Global LLC grew its stake in Ocugen by 7.2% during the fourth quarter. Jain Global LLC now owns 114,690 shares of the company’s stock worth $155,000 after purchasing an additional 7,686 shares during the period. Lanham O Dell & Company Inc. grew its stake in Ocugen by 7.7% during the third quarter. Lanham O Dell & Company Inc. now owns 140,000 shares of the company’s stock worth $228,000 after purchasing an additional 10,000 shares during the period. Procyon Advisors LLC grew its stake in Ocugen by 5.5% during the third quarter. Procyon Advisors LLC now owns 211,100 shares of the company’s stock worth $344,000 after purchasing an additional 11,000 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Ocugen by 56.7% during the second quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company’s stock worth $36,000 after purchasing an additional 13,326 shares during the period. Institutional investors and hedge funds own 10.27% of the company’s stock.

About Ocugen

Ocugen Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing gene therapies to treat rare inherited retinal diseases, as well as vaccines designed to address unmet needs in infectious diseases. Headquartered in Malvern, Pennsylvania, the company applies its proprietary gene therapy platform to create novel treatments aimed at preserving and restoring vision, while leveraging strategic partnerships to broaden its vaccine pipeline.

In its gene therapy portfolio, Ocugen is advancing multiple programs targeting retinal disorders.