Ocugen, Inc. (NASDAQ:OCGN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Ocugen, Inc. (NASDAQ:OCGN) have earned a consensus recommendation of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $9.50.

Several research analysts have weighed in on the company. Weiss Ratings raised Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Canaccord Genuity Group decreased their target price on Ocugen from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Finally, Wall Street Zen cut Ocugen from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th.

Ocugen Trading Down 6.1%

NASDAQ:OCGN opened at $1.39 on Friday. Ocugen has a 52 week low of $0.99 and a 52 week high of $2.73. The firm has a 50-day moving average price of $1.35 and a two-hundred day moving average price of $1.55. The company has a debt-to-equity ratio of 4.17, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $471.36 million, a price-to-earnings ratio of -5.35 and a beta of 2.21.

Ocugen (NASDAQ:OCGN) last announced its earnings results on Thursday, August 6th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The firm had revenue of $1.49 million during the quarter, compared to analysts’ expectations of $0.89 million. On average, equities analysts expect that Ocugen will post -0.25 earnings per share for the current fiscal year.

Insider Transactions at Ocugen

In related news, CFO Treerita Essali Johnson-Greene acquired 21,000 shares of the stock in a transaction on Monday, June 15th. The shares were acquired at an average price of $1.23 per share, with a total value of $25,830.00. Following the completion of the transaction, the chief financial officer owned 521,000 shares in the company, valued at approximately $640,830. The trade was a 4.20% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.95% of the company’s stock.

Institutional Investors Weigh In On Ocugen

Several large investors have recently modified their holdings of OCGN. BlackRock Inc. purchased a new position in Ocugen in the second quarter valued at approximately $41,314,000. Vanguard Group Inc. increased its position in Ocugen by 3.1% in the third quarter. Vanguard Group Inc. now owns 15,223,585 shares of the company’s stock worth $24,814,000 after buying an additional 450,904 shares during the last quarter. Millennium Management LLC increased its position in Ocugen by 29.7% in the fourth quarter. Millennium Management LLC now owns 5,396,417 shares of the company’s stock worth $7,285,000 after buying an additional 1,234,268 shares during the last quarter. UBS Group AG raised its stake in shares of Ocugen by 373.2% in the fourth quarter. UBS Group AG now owns 4,849,353 shares of the company’s stock valued at $6,547,000 after buying an additional 3,824,474 shares during the period. Finally, State Street Corp raised its stake in shares of Ocugen by 193.6% in the fourth quarter. State Street Corp now owns 3,978,738 shares of the company’s stock valued at $5,371,000 after buying an additional 2,623,361 shares during the period. Hedge funds and other institutional investors own 10.27% of the company’s stock.

About Ocugen

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.