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

Chardan Capital reissued their buy rating on shares of Ocugen (NASDAQ:OCGN) in a research note issued to investors on Tuesday morning,Benzinga reports. Chardan Capital currently has a $7.00 price objective on the stock.

Separately, HC Wainwright dropped their price objective on Ocugen from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, May 12th.

Ocugen Price Performance

Shares of OCGN opened at $1.03 on Tuesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 2.60 and a current ratio of 2.60. The company has a 50 day moving average price of $0.87 and a 200-day moving average price of $0.76. Ocugen has a fifty-two week low of $0.52 and a fifty-two week high of $1.98. The stock has a market capitalization of $300.79 million, a PE ratio of -5.42 and a beta of 4.20.

Ocugen (NASDAQ:OCGN) last issued its quarterly earnings data on Friday, May 9th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of $1.48 million during the quarter. Ocugen had a negative net margin of 1,271.12% and a negative return on equity of 223.00%. Equities analysts predict that Ocugen will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ocugen

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Ocugen by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 6,588,407 shares of the company’s stock worth $5,305,000 after purchasing an additional 309,853 shares in the last quarter. GMT Capital Corp increased its position in Ocugen by 69.2% during the 1st quarter. GMT Capital Corp now owns 4,153,798 shares of the company’s stock valued at $2,934,000 after buying an additional 1,698,840 shares in the last quarter. Northern Trust Corp increased its position in Ocugen by 10.4% during the 4th quarter. Northern Trust Corp now owns 2,407,137 shares of the company’s stock valued at $1,938,000 after buying an additional 227,150 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Ocugen in the fourth quarter valued at about $1,681,000. Finally, GSA Capital Partners LLP boosted its holdings in Ocugen by 43.0% in the first quarter. GSA Capital Partners LLP now owns 1,638,033 shares of the company’s stock worth $1,157,000 after acquiring an additional 492,300 shares in the last quarter. Hedge funds and other 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.