Ocugen, Inc. (NASDAQ:OCGN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Ocugen, Inc. (NASDAQ:OCGN) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $9.50.

Several equities analysts recently weighed in on OCGN shares. Wall Street Zen downgraded Ocugen from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Canaccord Genuity Group cut their price objective on Ocugen from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th.

Insider Activity at Ocugen

In related news, CFO Treerita Essali Johnson-Greene purchased 21,000 shares of Ocugen stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of $1.23 per share, with a total value of $25,830.00. Following the transaction, the chief financial officer owned 521,000 shares of the company’s stock, valued at approximately $640,830. The trade was a 4.20% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 3.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Ocugen

Several hedge funds have recently modified their holdings of OCGN. Creative Planning bought a new position in Ocugen during the second quarter worth about $57,000. XTX Topco Ltd acquired a new stake in shares of Ocugen in the second quarter valued at approximately $203,000. Jump Financial LLC bought a new stake in Ocugen during the 2nd quarter worth about $57,000. Qube Research & Technologies Ltd bought a new stake in Ocugen during the second quarter worth about $188,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Ocugen by 198.0% in the 2nd quarter. NewEdge Advisors LLC now owns 36,814 shares of the company’s stock valued at $36,000 after buying an additional 24,460 shares during the last quarter. Institutional investors and hedge funds own 10.27% of the company’s stock.

Ocugen Stock Down 1.8%

NASDAQ OCGN opened at $1.35 on Friday. The business has a fifty day moving average price of $1.34 and a 200 day moving average price of $1.55. The company has a debt-to-equity ratio of 4.17, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $457.80 million, a P/E ratio of -5.19 and a beta of 2.21. Ocugen has a one year low of $0.98 and a one year high of $2.73.

Ocugen (NASDAQ:OCGN) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The company had revenue of $1.49 million for the quarter, compared to analysts’ expectations of $0.89 million. Research analysts anticipate that Ocugen will post -0.25 EPS for the current fiscal 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.