Ocugen (NASDAQ:OCGN) Receives New Coverage from Analysts at Maxim Group

Equities researchers at Maxim Group assumed coverage on shares of Ocugen (NASDAQ:OCGN) in a research note issued to investors on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $4.00 price target on the stock. Maxim Group’s price target suggests a potential upside of 321.10% from the company’s previous close.

Ocugen Trading Down 3.6 %

Shares of OCGN stock opened at $0.95 on Tuesday. The business’s fifty day moving average price is $1.16 and its 200 day moving average price is $1.43. The firm has a market capitalization of $244.46 million, a PE ratio of -3.80 and a beta of 3.70. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. Ocugen has a 1-year low of $0.35 and a 1-year high of $2.11.

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

Hedge Funds Weigh In On Ocugen

Institutional investors and hedge funds have recently modified their holdings of the company. Xponance Inc. purchased a new position in shares of Ocugen in the 2nd quarter valued at $25,000. David J Yvars Group purchased a new stake in shares of Ocugen in the first quarter worth about $35,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Ocugen in the second quarter valued at about $35,000. Victory Capital Management Inc. purchased a new stake in shares of Ocugen during the 2nd quarter valued at about $51,000. Finally, Headlands Technologies LLC acquired a new position in Ocugen during the 1st quarter worth approximately $66,000. Hedge funds and other institutional investors own 10.27% of the company’s stock.

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.