Chardan Capital Reaffirms Buy Rating for Ocugen (NASDAQ:OCGN)

Chardan Capital restated their buy rating on shares of Ocugen (NASDAQ:OCGN) in a research note published on Friday,Benzinga reports. Chardan Capital currently has a $6.00 price objective on the stock.

Several other equities analysts have also issued reports on the stock. Maxim Group started coverage on shares of Ocugen in a report on Tuesday, October 15th. They set a “buy” rating and a $4.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Ocugen in a report on Wednesday, October 23rd.

Ocugen Stock Performance

Shares of OCGN opened at $1.07 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. Ocugen has a one year low of $0.35 and a one year high of $2.11. The company has a 50-day simple moving average of $1.03 and a two-hundred day simple moving average of $1.35. The firm has a market capitalization of $308.01 million, a PE ratio of -5.63 and a beta of 3.75.

Institutional Investors Weigh In On Ocugen

A number of hedge funds have recently modified their holdings of OCGN. Bank of New York Mellon Corp grew its position in shares of Ocugen by 2,760.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 751,819 shares of the company’s stock valued at $1,165,000 after acquiring an additional 725,536 shares during the period. Rhumbline Advisers grew its position in shares of Ocugen by 3,040.0% during the 2nd quarter. Rhumbline Advisers now owns 301,218 shares of the company’s stock valued at $467,000 after acquiring an additional 291,625 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Ocugen during the 3rd quarter valued at $203,000. Profund Advisors LLC bought a new stake in shares of Ocugen during the 2nd quarter valued at $227,000. Finally, The Manufacturers Life Insurance Company bought a new position in Ocugen in the 2nd quarter worth $166,000. Institutional investors own 10.27% of the company’s stock.

Ocugen Company Profile

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.