Ocugen’s (OCGN) Neutral Rating Reiterated at Chardan Capital

Ocugen (NASDAQ:OCGNGet Rating)‘s stock had its “neutral” rating reaffirmed by analysts at Chardan Capital in a research report issued on Monday, Zacks.com reports.

Several other analysts have also recently commented on OCGN. Zacks Investment Research upgraded Ocugen from a “sell” rating to a “hold” rating in a research report on Thursday, March 10th. HC Wainwright lowered their target price on Ocugen from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, February 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.75.

Shares of NASDAQ OCGN opened at $2.79 on Monday. Ocugen has a 12-month low of $2.16 and a 12-month high of $17.65. The company has a current ratio of 14.66, a quick ratio of 14.66 and a debt-to-equity ratio of 0.02. The company has a market cap of $556.57 million, a price-to-earnings ratio of -9.62 and a beta of 4.58. The stock’s 50 day simple moving average is $3.32 and its 200 day simple moving average is $5.45.

Ocugen (NASDAQ:OCGNGet Rating) last posted its earnings results on Friday, February 25th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). As a group, equities analysts forecast that Ocugen will post 0.16 earnings per share for the current fiscal year.

In other news, CEO Shankar Musunuri sold 81,823 shares of Ocugen stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $2.65, for a total transaction of $216,830.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ramesh Kumar sold 7,500 shares of Ocugen stock in a transaction on Tuesday, January 18th. The shares were sold at an average price of $4.07, for a total value of $30,525.00. The disclosure for this sale can be found here. 3.65% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp grew its holdings in shares of Ocugen by 23.9% in the 4th quarter. State Street Corp now owns 14,017,619 shares of the company’s stock worth $63,780,000 after acquiring an additional 2,700,103 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Ocugen by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,356,816 shares of the company’s stock worth $24,101,000 after acquiring an additional 173,982 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Ocugen by 562.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,321,956 shares of the company’s stock worth $15,115,000 after acquiring an additional 2,820,832 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Ocugen by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,227 shares of the company’s stock worth $6,240,000 after acquiring an additional 20,107 shares during the last quarter. Finally, Southpoint Capital Advisors LP acquired a new position in shares of Ocugen in the 4th quarter worth $6,164,000. Institutional investors and hedge funds own 28.27% of the company’s stock.

Ocugen Company Profile (Get Rating)

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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