Chardan Capital Reiterates “Buy” Rating for Ocugen (NASDAQ:OCGN)

Ocugen (NASDAQ:OCGN)‘s stock had its “buy” rating restated by investment analysts at Chardan Capital in a research note issued on Monday,Benzinga reports. They currently have a $6.00 price objective on the stock.

Other research analysts also recently issued research reports about the company. Maxim Group assumed coverage on Ocugen in a research note on Tuesday, October 15th. They issued a “buy” rating and a $4.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Ocugen in a research note on Monday, November 11th.

Ocugen Stock Down 2.9 %

NASDAQ:OCGN traded down $0.03 on Monday, hitting $0.91. 4,201,549 shares of the company’s stock traded hands, compared to its average volume of 6,110,376. The company has a market cap of $262.30 million, a PE ratio of -5.06 and a beta of 3.75. Ocugen has a 1 year low of $0.36 and a 1 year high of $2.11. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $1.01 and a 200-day moving average price of $1.34.

Institutional Trading of Ocugen

Several large investors have recently made changes to their positions in the stock. Xponance Inc. acquired a new stake in Ocugen in the 2nd quarter worth approximately $25,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Ocugen in the second quarter worth $35,000. Victory Capital Management Inc. acquired a new position in Ocugen in the 2nd quarter valued at $51,000. Daiwa Securities Group Inc. bought a new position in Ocugen in the 2nd quarter worth $67,000. Finally, E Fund Management Co. Ltd. bought a new stake in Ocugen during the second quarter valued at about $75,000. 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.