Ocugen (NASDAQ:OCGN – Get Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05), Zacks reports. The company had revenue of $0.76 million during the quarter, compared to the consensus estimate of $0.30 million. Ocugen had a negative net margin of 532.51% and a negative return on equity of 154.75%. During the same period in the prior year, the company earned ($0.03) EPS.
Ocugen Stock Performance
Shares of Ocugen stock opened at $0.57 on Thursday. Ocugen has a 12 month low of $0.55 and a 12 month high of $2.11. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.04. The stock has a market cap of $167.07 million, a PE ratio of -3.19 and a beta of 3.88. The business has a fifty day simple moving average of $0.73 and a 200-day simple moving average of $0.91.
Wall Street Analyst Weigh In
A number of analysts recently commented on OCGN shares. Chardan Capital boosted their target price on shares of Ocugen from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of Ocugen in a research report on Thursday.
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.
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