Ocugen (NASDAQ:OCGN) Price Target Cut to $10.00 by Analysts at HC Wainwright

Ocugen (NASDAQ:OCGN) had its price objective reduced by investment analysts at HC Wainwright from $12.00 to $10.00 in a report released on Friday, The Fly reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 52.67% from the company’s previous close.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald restated a “neutral” rating and issued a $11.00 price objective (down from $15.00) on shares of Ocugen in a research report on Thursday, May 13th. Chardan Capital lowered their price target on Ocugen from $8.00 to $4.50 and set a “neutral” rating on the stock in a research note on Thursday. Roth Capital lowered Ocugen from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $10.00 to $6.00 in a research note on Thursday. Finally, Zacks Investment Research lowered Ocugen from a “hold” rating to a “sell” rating in a research note on Wednesday, May 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Ocugen has a consensus rating of “Hold” and a consensus price target of $7.50.

Shares of Ocugen stock traded down $0.14 on Friday, reaching $6.55. The company’s stock had a trading volume of 106,130 shares, compared to its average volume of 68,952,961. The firm has a market capitalization of $1.30 billion, a P/E ratio of -21.58 and a beta of 4.47. Ocugen has a 52-week low of $0.19 and a 52-week high of $18.77. The business has a 50-day simple moving average of $8.76. The company has a debt-to-equity ratio of 0.04, a current ratio of 12.00 and a quick ratio of 12.00.

Ocugen (NASDAQ:OCGN) last posted its quarterly earnings data on Friday, May 7th. The company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.54). Research analysts expect that Ocugen will post 1.05 earnings per share for the current year.

In other Ocugen news, Director Uday Kompella sold 350,000 shares of the business’s stock in a transaction on Monday, April 26th. The stock was sold at an average price of $11.70, for a total transaction of $4,095,000.00. Following the transaction, the director now owns 600,674 shares of the company’s stock, valued at $7,027,885.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Vijay Tammara sold 29,991 shares of the business’s stock in a transaction on Thursday, April 29th. The stock was sold at an average price of $10.97, for a total value of $329,001.27. Following the transaction, the senior vice president now directly owns 9,000 shares in the company, valued at approximately $98,730. The disclosure for this sale can be found here. Insiders have sold 755,056 shares of company stock worth $9,167,376 in the last three months. 3.40% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Squarepoint Ops LLC purchased a new stake in Ocugen in the fourth quarter valued at $622,000. Patriot Investment Management Inc. purchased a new stake in shares of Ocugen in the 1st quarter valued at $215,000. Pacer Advisors Inc. purchased a new stake in shares of Ocugen in the 1st quarter valued at $53,000. Arkadios Wealth Advisors raised its holdings in shares of Ocugen by 12.5% in the 1st quarter. Arkadios Wealth Advisors now owns 11,250 shares of the company’s stock valued at $76,000 after buying an additional 1,250 shares during the period. Finally, Rafferty Asset Management LLC purchased a new stake in shares of Ocugen in the 1st quarter valued at $2,262,000. Institutional investors own 12.47% of the company’s stock.

Ocugen Company Profile

Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases. 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, such as retinitis pigmentosa and leber congenital amaurosis; OCU410, gene therapy candidate for the treatment of dry age-related macular degeneration (AMD); and OCU200, a novel fusion protein that is in preclinical development stage for the treatment of diabetic macular edema, diabetic retinopathy, and wet AMD.

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