Ocugen, Inc. (NASDAQ:OCGN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Ocugen, Inc. (NASDAQ:OCGN) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $9.00.

Several equities analysts have recently issued reports on OCGN shares. Canaccord Genuity Group began coverage on Ocugen in a research note on Tuesday. They issued a “buy” rating and a $12.00 price target for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ocugen in a report on Thursday, January 22nd. Chardan Capital reissued a “buy” rating and set a $7.00 target price on shares of Ocugen in a research report on Thursday, March 5th. Oppenheimer assumed coverage on shares of Ocugen in a research report on Wednesday, March 11th. They issued an “outperform” rating and a $10.00 price target on the stock. Finally, Wall Street Zen lowered shares of Ocugen from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. SmartHarvest Portfolios LLC bought a new stake in Ocugen in the 4th quarter valued at about $31,000. BNP Paribas Financial Markets boosted its holdings in Ocugen by 56.7% in the second quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company’s stock worth $36,000 after acquiring an additional 13,326 shares in the last quarter. NewEdge Advisors LLC grew its stake in Ocugen by 198.0% in the second quarter. NewEdge Advisors LLC now owns 36,814 shares of the company’s stock valued at $36,000 after acquiring an additional 24,460 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in shares of Ocugen during the fourth quarter valued at approximately $38,000. Finally, Cora Capital Advisors LLC increased its holdings in shares of Ocugen by 27.5% during the fourth quarter. Cora Capital Advisors LLC now owns 30,143 shares of the company’s stock valued at $41,000 after acquiring an additional 6,500 shares in the last quarter. Institutional investors and hedge funds own 10.27% of the company’s stock.

Ocugen Price Performance

Shares of OCGN stock traded up $0.22 during trading hours on Tuesday, reaching $2.55. The company’s stock had a trading volume of 4,067,739 shares, compared to its average volume of 6,963,811. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 8.04. Ocugen has a fifty-two week low of $0.51 and a fifty-two week high of $2.67. The company has a market capitalization of $834.51 million, a price-to-earnings ratio of -11.07 and a beta of 2.75. The firm’s 50 day simple moving average is $1.67 and its 200-day simple moving average is $1.48.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings results on Wednesday, March 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). Ocugen had a negative net margin of 1,192.18% and a negative return on equity of 2,626.38%. The company had revenue of ($0.19) million during the quarter, compared to the consensus estimate of $0.86 million. Sell-side analysts forecast that Ocugen will post -0.2 earnings per share for the current year.

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.