Ocugen’s (OCGN) “Buy” Rating Reiterated at Chardan Capital

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

Separately, HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of Ocugen in a report on Thursday, March 6th.

Ocugen Stock Up 0.4%

Ocugen stock opened at $0.70 on Monday. Ocugen has a twelve month low of $0.52 and a twelve month high of $2.06. The company’s 50-day moving average price is $0.66 and its two-hundred day moving average price is $0.76. The stock has a market cap of $205.15 million, a P/E ratio of -3.90 and a beta of 4.21. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.04.

Ocugen (NASDAQ:OCGN) last announced its earnings results on Friday, May 9th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $1.48 million for the quarter. Ocugen had a negative net margin of 532.51% and a negative return on equity of 154.75%. As a group, analysts expect that Ocugen will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Ocugen

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its position in Ocugen by 104.3% in the 3rd quarter. Barclays PLC now owns 581,087 shares of the company’s stock worth $577,000 after purchasing an additional 296,654 shares during the period. SG Americas Securities LLC boosted its position in Ocugen by 72.7% during the 4th quarter. SG Americas Securities LLC now owns 152,176 shares of the company’s stock valued at $123,000 after acquiring an additional 64,080 shares in the last quarter. Rhumbline Advisers raised its holdings in Ocugen by 12.9% in the fourth quarter. Rhumbline Advisers now owns 324,475 shares of the company’s stock worth $261,000 after purchasing an additional 37,034 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Ocugen in the 4th quarter worth approximately $132,000. Finally, SBI Securities Co. Ltd. bought a new position in Ocugen in the 4th quarter worth about $40,000. 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.