Ocugen (NASDAQ:OCGN) Receives “Buy” Rating from Chardan Capital

Chardan Capital reiterated their buy rating on shares of Ocugen (NASDAQ:OCGN) in a research report report published on Tuesday,Benzinga reports. Chardan Capital currently has a $7.00 price target on the stock.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Ocugen in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ocugen has an average rating of “Hold” and a consensus target price of $7.00.

Ocugen Stock Down 1.2%

Ocugen stock opened at $1.67 on Tuesday. The company has a debt-to-equity ratio of 8.04, a quick ratio of 1.85 and a current ratio of 1.85. Ocugen has a one year low of $0.52 and a one year high of $1.96. The company has a 50-day simple moving average of $1.38 and a 200-day simple moving average of $1.31. The firm has a market capitalization of $521.57 million, a P/E ratio of -7.59 and a beta of 3.50.

Ocugen (NASDAQ:OCGN) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Ocugen had a negative net margin of 1,192.18% and a negative return on equity of 491.22%. The firm had revenue of $3.50 million during the quarter, compared to the consensus estimate of $0.44 million. As a group, equities analysts expect that Ocugen will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Ocugen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OCGN. Vanguard Personalized Indexing Management LLC increased its position in shares of Ocugen by 48.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,871 shares of the company’s stock valued at $29,000 after purchasing an additional 9,791 shares during the period. Verdence Capital Advisors LLC acquired a new stake in shares of Ocugen in the third quarter valued at $47,000. NewEdge Advisors LLC boosted its stake in Ocugen by 198.0% during the second quarter. NewEdge Advisors LLC now owns 36,814 shares of the company’s stock valued at $36,000 after buying an additional 24,460 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Ocugen by 56.7% during the second quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company’s stock worth $36,000 after acquiring an additional 13,326 shares during the period. Finally, Ethic Inc. bought a new stake in Ocugen in the second quarter worth about $40,000. 10.27% of the stock is owned by institutional investors.

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.