Ocugen, Inc. (NASDAQ:OCGN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Ocugen, Inc. (NASDAQ:OCGN) has received a consensus rating of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $9.50.

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group cut their target price on shares of Ocugen from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Wall Street Zen upgraded shares of Ocugen from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Chardan Capital reaffirmed a “buy” rating and set a $7.00 price objective on shares of Ocugen in a research report on Wednesday, March 25th. Oppenheimer started coverage on Ocugen in a report on Wednesday, March 11th. They set an “outperform” rating and a $10.00 target price on the stock. Finally, HC Wainwright raised their target price on Ocugen from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, March 25th.

Ocugen Stock Performance

Shares of OCGN stock opened at $1.39 on Thursday. The stock has a fifty day moving average of $1.45 and a 200 day moving average of $1.58. Ocugen has a 52 week low of $0.90 and a 52 week high of $2.73. The firm has a market capitalization of $470.54 million, a price-to-earnings ratio of -5.79 and a beta of 2.19. 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 data on Tuesday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Ocugen had a negative net margin of 1,192.18% and a negative return on equity of 127,987.80%. The company had revenue of $1.53 million for the quarter, compared to analysts’ expectations of $0.42 million. As a group, research analysts expect that Ocugen will post -0.22 earnings per share for the current year.

Insider Transactions at Ocugen

In other news, CFO Treerita Essali Johnson-Greene acquired 21,000 shares of the stock in a transaction on Monday, June 15th. The stock was acquired at an average price of $1.23 per share, with a total value of $25,830.00. Following the completion of the transaction, the chief financial officer owned 521,000 shares of the company’s stock, valued at $640,830. This represents a 4.20% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.95% of the company’s stock.

Institutional Inflows and Outflows

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

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.