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

Shares of Ocugen, Inc. (NASDAQ:OCGN) have been given an average rating of “Moderate Buy” by the five brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $9.50.

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

Insider Activity

In other Ocugen news, CFO Treerita Johnson-Greene bought 21,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average price of $1.23 per share, with a total value of $25,830.00. Following the purchase, the chief financial officer owned 521,000 shares of the company’s stock, valued at $640,830. This trade represents a 4.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.95% of the company’s stock.

Institutional Investors Weigh In On Ocugen

A number of institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Ocugen by 121.7% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 2,830,397 shares of the company’s stock worth $4,331,000 after buying an additional 1,553,672 shares in the last quarter. BlackRock Inc. purchased a new position in Ocugen during the second quarter valued at $41,314,000. Bank of America Corp DE grew its stake in Ocugen by 1,090.0% during the first quarter. Bank of America Corp DE now owns 1,174,180 shares of the company’s stock valued at $2,125,000 after acquiring an additional 1,075,508 shares in the last quarter. UBS Group AG increased its holdings in Ocugen by 373.2% in the 4th quarter. UBS Group AG now owns 4,849,353 shares of the company’s stock valued at $6,547,000 after acquiring an additional 3,824,474 shares during the last quarter. Finally, Headlands Technologies LLC increased its holdings in Ocugen by 527.1% in the 2nd quarter. Headlands Technologies LLC now owns 511,575 shares of the company’s stock valued at $783,000 after acquiring an additional 429,997 shares during the last quarter. 10.27% of the stock is owned by hedge funds and other institutional investors.

Ocugen Price Performance

NASDAQ OCGN opened at $1.36 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 4.17. Ocugen has a 12 month low of $1.01 and a 12 month high of $2.73. The stock has a market cap of $461.19 million, a price-to-earnings ratio of -5.23 and a beta of 2.20. The company’s 50 day moving average is $1.36 and its two-hundred day moving average is $1.55.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The firm had revenue of $1.49 million for the quarter, compared to analysts’ expectations of $0.89 million. As a group, research analysts anticipate that Ocugen will post -0.25 earnings per share for the current year.

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.