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

Chardan Capital reiterated their buy rating on shares of Ocugen (NASDAQ:OCGN) in a research report released on Tuesday morning,Benzinga reports. They currently have a $7.00 price objective on the stock.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ocugen in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.00.

Ocugen Stock Performance

Shares of OCGN opened at $1.65 on Tuesday. The firm has a market capitalization of $515.33 million, a PE ratio of -7.50 and a beta of 3.50. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 8.04. The firm has a 50-day moving average price of $1.39 and a 200 day moving average price of $1.31. Ocugen has a 52-week low of $0.52 and a 52-week high of $1.96.

Ocugen (NASDAQ:OCGN) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Ocugen had a negative return on equity of 491.22% and a negative net margin of 1,192.18%.The company had revenue of $3.50 million during the quarter, compared to analyst estimates of $0.44 million. On average, sell-side analysts anticipate that Ocugen will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OCGN. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Ocugen during the fourth quarter valued at approximately $1,358,000. Brevan Howard Capital Management LP purchased a new position in Ocugen during the 2nd quarter worth approximately $499,000. Vanguard Group Inc. raised its stake in Ocugen by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 15,223,585 shares of the company’s stock valued at $24,814,000 after purchasing an additional 450,904 shares during the period. UBS Group AG lifted its holdings in shares of Ocugen by 56.6% in the third quarter. UBS Group AG now owns 1,024,879 shares of the company’s stock valued at $1,671,000 after purchasing an additional 370,500 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Ocugen in the second quarter worth $333,000. 10.27% of the stock is currently owned by institutional investors and hedge funds.

Ocugen Company Profile

Ocugen Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing gene therapies to treat rare inherited retinal diseases, as well as vaccines designed to address unmet needs in infectious diseases. Headquartered in Malvern, Pennsylvania, the company applies its proprietary gene therapy platform to create novel treatments aimed at preserving and restoring vision, while leveraging strategic partnerships to broaden its vaccine pipeline.

In its gene therapy portfolio, Ocugen is advancing multiple programs targeting retinal disorders.