Analysts Set Ocugen, Inc. (NASDAQ:OCGN) PT at $9.75

Ocugen, Inc. (NASDAQ:OCGN) has received an average rating of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $9.75.

Several analysts have recently issued reports on OCGN shares. Oppenheimer started coverage on shares of Ocugen in a research note on Wednesday, March 11th. They set an “outperform” rating and a $10.00 price objective for the company. HC Wainwright lifted their target price on shares of Ocugen from $7.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, March 25th. Wall Street Zen lowered shares of Ocugen from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ocugen in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group assumed coverage on shares of Ocugen in a research note on Tuesday, March 17th. They issued a “buy” rating and a $12.00 target price on the stock.

Institutional Investors Weigh In On Ocugen

A number of institutional investors have recently modified their holdings of OCGN. UBS Group AG grew its position in shares of Ocugen by 373.2% during the 4th quarter. UBS Group AG now owns 4,849,353 shares of the company’s stock valued at $6,547,000 after buying an additional 3,824,474 shares during the last quarter. State Street Corp grew its position in shares of Ocugen by 193.6% during the 4th quarter. State Street Corp now owns 3,978,738 shares of the company’s stock valued at $5,371,000 after buying an additional 2,623,361 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Ocugen during the 4th quarter valued at about $3,417,000. Goldman Sachs Group Inc. grew its position in shares of Ocugen by 2,256.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,302,475 shares of the company’s stock valued at $3,108,000 after buying an additional 2,204,765 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Ocugen by 485.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,700,400 shares of the company’s stock valued at $2,296,000 after buying an additional 1,410,200 shares during the last quarter. Institutional investors own 10.27% of the company’s stock.

Ocugen Stock Down 0.7%

OCGN stock opened at $1.47 on Wednesday. The stock has a market capitalization of $497.62 million, a P/E ratio of -6.13 and a beta of 2.30. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.06 and a current ratio of 1.86. Ocugen has a one year low of $0.64 and a one year high of $2.73. The company has a 50 day moving average price of $1.85 and a two-hundred day moving average price of $1.58.

Ocugen (NASDAQ:OCGN) last released its earnings results on Tuesday, May 5th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $1.53 million during the quarter, compared to analysts’ expectations of $0.42 million. Ocugen had a negative return on equity of 127,987.80% and a negative net margin of 1,192.18%. As a group, sell-side analysts expect that Ocugen will post -0.21 EPS for the current year.

Ocugen Company Profile

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.