Ocugen (NASDAQ:OCGN) Earns “Buy” Rating from Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Ocugen (NASDAQ:OCGN) in a research report report published on Thursday morning,Benzinga reports. They currently have a $6.00 target price on the stock.

OCGN has been the topic of several other reports. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Ocugen in a research report on Monday, January 13th. Maxim Group started coverage on shares of Ocugen in a research report on Tuesday, October 15th. They set a “buy” rating and a $4.00 target price on the stock.

Ocugen Trading Up 0.0 %

Shares of NASDAQ:OCGN opened at $0.78 on Thursday. Ocugen has a 52-week low of $0.50 and a 52-week high of $2.11. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.58 and a current ratio of 2.58. The company has a market cap of $227.23 million, a P/E ratio of -4.33 and a beta of 3.85. The stock’s 50-day moving average is $0.83 and its 200-day moving average is $1.08.

Hedge Funds Weigh In On Ocugen

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in shares of Ocugen by 72.7% during the fourth quarter. SG Americas Securities LLC now owns 152,176 shares of the company’s stock valued at $123,000 after purchasing an additional 64,080 shares during the period. Franklin Resources Inc. acquired a new position in shares of Ocugen in the 3rd quarter valued at $142,000. Barclays PLC lifted its holdings in shares of Ocugen by 104.3% during the 3rd quarter. Barclays PLC now owns 581,087 shares of the company’s stock worth $577,000 after acquiring an additional 296,654 shares during the period. Geode Capital Management LLC boosted its position in shares of Ocugen by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,278,554 shares of the company’s stock valued at $6,231,000 after acquiring an additional 373,555 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Ocugen in the third quarter valued at about $233,000. Institutional investors and hedge funds own 10.27% of the company’s stock.

About Ocugen

Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing novel gene and cell therapies and vaccines that improve patients’ health. The company’s pipeline product includes OCU400, a novel gene therapy product candidate restoring retinal integrity and function across a range of genetically diverse inherited retinal diseases, currently under Phase 3 trials for the treatment of retinitis pigmentosa and Phase 1/2 trials for the treatment of leber congenital amaurosis; OCU410, a gene therapy under phase 1/2 for the treatment of dry age-related macular degeneration (AMD); and OCU410ST, a gene therapy under phase 1/2 for the treatment of Stargardt disease.