FY2029 Earnings Forecast for Ocugen Issued By HC Wainwright

Ocugen, Inc. (NASDAQ:OCGN) – Equities researchers at HC Wainwright lowered their FY2029 earnings per share (EPS) estimates for Ocugen in a research report issued on Thursday, September 10th. HC Wainwright analyst S. Ramakanth now anticipates that the company will post earnings per share of $0.06 for the year, down from their prior forecast of $0.14. The consensus estimate for Ocugen’s current full-year earnings is ($0.25) per share. HC Wainwright also issued estimates for Ocugen’s FY2030 earnings at $0.98 EPS.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Canaccord Genuity Group lowered their price target on shares of Ocugen from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Finally, Wall Street Zen cut shares of Ocugen from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Ocugen Price Performance

Shares of NASDAQ OCGN opened at $1.02 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 4.17. The company’s 50-day moving average price is $1.34 and its 200 day moving average price is $1.54. Ocugen has a 52 week low of $1.01 and a 52 week high of $2.73. The stock has a market cap of $347.59 million, a price-to-earnings ratio of -3.94 and a beta of 2.20.

Ocugen (NASDAQ:OCGN) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $1.49 million during the quarter, compared to analyst estimates of $0.89 million.

Institutional Investors Weigh In On Ocugen

A number of hedge funds and other institutional investors have recently modified their holdings of OCGN. GTS Securities LLC acquired a new position in shares of Ocugen in the second quarter valued at approximately $27,000. Engineers Gate Manager LP lifted its stake in shares of Ocugen by 70.2% during the second quarter. Engineers Gate Manager LP now owns 18,368 shares of the company’s stock valued at $28,000 after buying an additional 7,577 shares during the period. CTC Alternative Strategies Ltd. acquired a new stake in Ocugen during the first quarter worth approximately $34,000. Diversify Advisory Services LLC acquired a new stake in Ocugen during the second quarter worth approximately $25,000. Finally, SmartHarvest Portfolios LLC purchased a new stake in Ocugen in the 4th quarter worth approximately $31,000. 10.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Treerita Johnson-Greene bought 21,000 shares of Ocugen stock in a transaction on Monday, June 15th. The shares were bought at an average cost of $1.23 per share, for a total transaction of $25,830.00. Following the acquisition, the chief financial officer owned 521,000 shares in the company, valued at approximately $640,830. This trade represents a 4.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.95% of the company’s stock.

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.