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

HC Wainwright reiterated their buy rating on shares of Ocugen (NASDAQ:OCGNFree Report) in a research note released on Wednesday, Benzinga reports. HC Wainwright currently has a $7.00 price objective on the stock.

Separately, Chardan Capital upped their price objective on Ocugen from $4.00 to $5.00 and gave the company a buy rating in a research report on Monday, April 22nd.

View Our Latest Research Report on OCGN

Ocugen Stock Down 3.5 %

NASDAQ OCGN opened at $1.91 on Wednesday. The stock has a 50 day moving average price of $1.49 and a 200-day moving average price of $0.88. Ocugen has a one year low of $0.35 and a one year high of $2.11. The company has a current ratio of 1.87, a quick ratio of 2.51 and a debt-to-equity ratio of 0.05.

Ocugen (NASDAQ:OCGNGet Free Report) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of $1.01 million during the quarter. During the same period in the prior year, the firm earned ($0.07) earnings per share. On average, equities analysts forecast that Ocugen will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Ocugen

Large investors have recently made changes to their positions in the company. Truefg LLC bought a new stake in Ocugen in the first quarter worth about $34,000. David J Yvars Group bought a new stake in shares of Ocugen during the 1st quarter worth approximately $35,000. Headlands Technologies LLC purchased a new position in Ocugen during the 1st quarter valued at $66,000. Tidal Investments LLC bought a new position in Ocugen in the 1st quarter valued at $108,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Ocugen in the first quarter worth $132,000. 10.27% of the stock is owned by hedge funds and other institutional investors.

About Ocugen

(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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