Ocugen (NASDAQ:OCGN) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Ocugen (NASDAQ:OCGN) in a report issued on Monday,Benzinga reports. The brokerage currently has a $7.00 price target on the stock. HC Wainwright also issued estimates for Ocugen’s Q4 2024 earnings at ($0.05) EPS, FY2024 earnings at ($0.18) EPS and FY2025 earnings at ($0.20) EPS.

Several other equities research analysts also recently commented on the company. Chardan Capital reissued a “buy” rating and issued a $6.00 target price on shares of Ocugen in a report on Friday, November 8th. Maxim Group assumed coverage on shares of Ocugen in a report on Tuesday, October 15th. They set a “buy” rating and a $4.00 price target on the stock.

Ocugen Stock Performance

Shares of OCGN stock opened at $1.00 on Monday. The company’s fifty day moving average price is $1.02 and its 200-day moving average price is $1.35. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. Ocugen has a 12 month low of $0.36 and a 12 month high of $2.11.

Institutional Trading of Ocugen

A number of large investors have recently made changes to their positions in the stock. MetLife Investment Management LLC boosted its holdings in Ocugen by 36.4% in the third quarter. MetLife Investment Management LLC now owns 89,508 shares of the company’s stock worth $89,000 after purchasing an additional 23,877 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Ocugen in the 3rd quarter worth $93,000. GSA Capital Partners LLP bought a new stake in shares of Ocugen in the third quarter worth $203,000. NorthCrest Asset Manangement LLC purchased a new stake in Ocugen during the third quarter valued at $90,000. Finally, SG Americas Securities LLC bought a new position in Ocugen in the third quarter valued at about $87,000. 10.27% of the stock is currently owned by institutional investors.

About Ocugen

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.