Ocugen (NASDAQ:OCGN) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Ocugen (NASDAQ:OCGN) released its earnings results on Thursday. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02), FiscalAI reports. The company had revenue of $1.49 million for the quarter, compared to analyst estimates of $0.89 million.

Here are the key takeaways from Ocugen’s conference call:

• OCU410 received FDA clearance to begin its Phase III ARMADA-3 trial in geographic atrophy, along with RMAT designation. The approximately 237-patient global study is expected to start by September 2026, supported by Phase II data showing a 31% reduction in lesion growth at the optimal dose.
• Ocugen expects several major clinical catalysts, including an interim decision for OCU410ST in Stargardt disease in the third quarter of 2026 and top-line data for OCU400 and OCU410ST in the first half of 2027. Management continues to target three BLA submissions by 2028.
• Enrollment is complete in the 140-patient Phase III liMeliGhT trial for OCU400 in broad retinitis pigmentosa, with top-line data expected in the first quarter of 2027. The company also completed manufacturing qualification batches intended to support potential BLA filings and commercial supply.
• Ocugen closed a $130 million convertible notes financing, reporting $100.4 million in cash, cash equivalents, and restricted cash at June 30, which management says extends its runway into 2028. It also signed a binding term sheet granting Roots Pharmaceutical and Al-Dhow International exclusive OCU400 rights in the Middle East and North Africa.
• Operating expenses increased to $17.9 million in the quarter from $15.2 million a year earlier, while quarterly net loss widened to $0.07 per share from $0.05. Management is evaluating additional financing, warrant exercises, business-development transactions, and a potential share authorization increase, creating possible future dilution.

Ocugen Stock Performance

Shares of OCGN stock traded down $0.04 during trading on Thursday, reaching $1.24. 5,555,461 shares of the company’s stock were exchanged, compared to its average volume of 4,795,637. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 4.17. The stock has a market capitalization of $420.50 million, a PE ratio of -5.17 and a beta of 2.21. Ocugen has a twelve month low of $0.94 and a twelve month high of $2.73. The firm’s fifty day moving average price is $1.34 and its 200-day moving average price is $1.57.

Insider Transactions at Ocugen

In related news, CFO Treerita Essali Johnson-Greene acquired 21,000 shares of Ocugen stock in a transaction on Monday, June 15th. The stock was purchased at an average cost of $1.23 per share, with a total value of $25,830.00. Following the completion of the transaction, the chief financial officer directly owned 521,000 shares in the company, valued at $640,830. This trade represents a 4.20% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SmartHarvest Portfolios LLC acquired a new stake in Ocugen during the fourth quarter worth approximately $31,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Ocugen during the fourth quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Ocugen by 28,222.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 30,305 shares of the company’s stock worth $41,000 after purchasing an additional 30,198 shares during the period. NewEdge Advisors LLC lifted its holdings in Ocugen by 198.0% during the 2nd quarter. NewEdge Advisors LLC now owns 36,814 shares of the company’s stock worth $36,000 after purchasing an additional 24,460 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Ocugen by 56.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company’s stock worth $36,000 after purchasing an additional 13,326 shares during the last quarter. Institutional investors and hedge funds own 10.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OCGN shares. Wall Street Zen upgraded Ocugen from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Canaccord Genuity Group dropped their target price on Ocugen from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Finally, Weiss Ratings downgraded Ocugen from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.50.

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.