Ocugen’s (OCGN) Buy Rating Reiterated at HC Wainwright

Ocugen (NASDAQ:OCGN)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a report issued on Wednesday, Benzinga reports. They presently have a $7.00 price target on the stock.

Separately, Maxim Group began coverage on Ocugen in a research report on Tuesday, October 15th. They set a “buy” rating and a $4.00 target price on the stock.

Ocugen Stock Performance

Ocugen stock opened at $0.93 on Wednesday. Ocugen has a 12-month low of $0.35 and a 12-month high of $2.11. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The business’s 50-day moving average price is $1.12 and its two-hundred day moving average price is $1.41. The stock has a market cap of $239.34 million, a PE ratio of -3.72 and a beta of 3.70.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $1.14 million for the quarter. During the same quarter last year, the firm earned ($0.10) earnings per share. As a group, analysts expect that Ocugen will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Ocugen

Several institutional investors and hedge funds have recently bought and sold shares of OCGN. Headlands Technologies LLC purchased a new stake in Ocugen during the 1st quarter valued at about $66,000. State Board of Administration of Florida Retirement System bought a new stake in Ocugen during the 1st quarter valued at about $132,000. Tidal Investments LLC bought a new position in shares of Ocugen in the first quarter worth approximately $108,000. Baader Bank Aktiengesellschaft bought a new position in Ocugen in the 2nd quarter valued at approximately $35,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Ocugen by 2,760.5% during the second quarter. Bank of New York Mellon Corp now owns 751,819 shares of the company’s stock valued at $1,165,000 after buying an additional 725,536 shares during the last quarter. 10.27% of the stock is currently owned by hedge funds and other institutional investors.

Ocugen Company Profile

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.