Ocugen (NASDAQ:OCGN) Earns “Buy” Rating from HC Wainwright

Ocugen (NASDAQ:OCGNGet Free Report)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $7.00 target price on the stock.

OCGN has been the subject of a number of other reports. Maxim Group began coverage on shares of Ocugen in a research note on Tuesday, October 15th. They issued a “buy” rating and a $4.00 price objective for the company. Chardan Capital restated a “buy” rating and issued a $6.00 price target on shares of Ocugen in a research report on Monday, November 18th.

Check Out Our Latest Report on OCGN

Ocugen Stock Performance

Shares of OCGN opened at $0.73 on Monday. The company has a 50-day moving average of $0.88 and a two-hundred day moving average of $1.12. The stock has a market cap of $212.66 million, a price-to-earnings ratio of -4.06 and a beta of 3.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.58 and a quick ratio of 2.58. Ocugen has a one year low of $0.49 and a one year high of $2.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its stake in Ocugen by 2,760.5% during the second quarter. Bank of New York Mellon Corp now owns 751,819 shares of the company’s stock worth $1,165,000 after acquiring an additional 725,536 shares in the last quarter. Rhumbline Advisers grew its position in shares of Ocugen by 3,040.0% in the second quarter. Rhumbline Advisers now owns 301,218 shares of the company’s stock valued at $467,000 after purchasing an additional 291,625 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Ocugen during the 2nd quarter valued at $51,000. Daiwa Securities Group Inc. purchased a new position in Ocugen in the 2nd quarter worth approximately $67,000. Finally, E Fund Management Co. Ltd. bought a new position in Ocugen during the second quarter valued at approximately $75,000. Institutional investors own 10.27% of the company’s stock.

Ocugen Company Profile

(Get Free Report)

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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