Ocugen, Inc. (NASDAQ:OCGN) Receives $9.50 Average Target Price from Brokerages

Shares of Ocugen, Inc. (NASDAQ:OCGN) have earned a consensus rating of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $9.50.

OCGN has been the topic of a number of recent analyst reports. Chardan Capital reissued a “buy” rating and set a $7.00 price target on shares of Ocugen in a research note on Wednesday, March 25th. Wall Street Zen raised Ocugen from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings raised Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. Oppenheimer initiated coverage on Ocugen in a research note on Wednesday, March 11th. They set an “outperform” rating and a $10.00 price target on the stock. Finally, HC Wainwright increased their price target on Ocugen from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, March 25th.

Ocugen Trading Up 5.4%

Shares of Ocugen stock opened at $1.37 on Friday. Ocugen has a fifty-two week low of $0.90 and a fifty-two week high of $2.73. The firm has a market cap of $463.77 million, a PE ratio of -5.71 and a beta of 2.19. The business’s fifty day moving average is $1.61 and its two-hundred day moving average is $1.58. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 4.17.

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 analysts’ consensus estimates of ($0.05) by ($0.01). Ocugen had a negative return on equity of 127,987.80% and a negative net margin of 1,192.18%.The business had revenue of $1.53 million for the quarter, compared to analysts’ expectations of $0.42 million. Analysts anticipate that Ocugen will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in OCGN. UBS Group AG raised its position in shares of Ocugen by 373.2% in the 4th quarter. UBS Group AG now owns 4,849,353 shares of the company’s stock worth $6,547,000 after buying an additional 3,824,474 shares during the period. State Street Corp raised its position in shares of Ocugen by 193.6% in the 4th quarter. State Street Corp now owns 3,978,738 shares of the company’s stock worth $5,371,000 after buying an additional 2,623,361 shares during the period. Marshall Wace LLP purchased a new position in shares of Ocugen in the 4th quarter worth $3,417,000. Goldman Sachs Group Inc. raised its position in shares of Ocugen by 2,256.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,302,475 shares of the company’s stock worth $3,108,000 after buying an additional 2,204,765 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Ocugen by 485.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,700,400 shares of the company’s stock worth $2,296,000 after buying an additional 1,410,200 shares during the period. 10.27% of the stock is owned by hedge funds and other institutional investors.

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.