Ocugen (NASDAQ:OCGN) Price Target Raised to $5.00

Ocugen (NASDAQ:OCGN) had its price target raised by Chardan Capital from $4.00 to $5.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Separately, HC Wainwright reaffirmed a buy rating and issued a $7.00 target price on shares of Ocugen in a report on Wednesday, April 3rd.

Ocugen Stock Down 5.6 %

OCGN stock opened at $1.18 on Monday. The firm’s 50 day moving average price is $1.27 and its 200-day moving average price is $0.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.51 and a current ratio of 2.51. The firm has a market cap of $303.65 million, a PE ratio of -4.37 and a beta of 3.51. Ocugen has a one year low of $0.35 and a one year high of $2.11.

Ocugen (NASDAQ:OCGN) last posted its quarterly earnings results on Tuesday, April 16th. The company reported ($0.04) EPS for the quarter. The business had revenue of $6.04 million for the quarter. On average, equities research analysts anticipate that Ocugen will post -0.29 EPS for the current year.

Institutional Trading of Ocugen

An institutional investor recently bought a new position in Ocugen stock. Truefg LLC acquired a new stake in Ocugen, Inc. (NASDAQ:OCGN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,000 shares of the company’s stock, valued at approximately $34,000. 10.27% of the stock is owned by hedge funds and other institutional investors.

About Ocugen

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 and OCU410ST 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.