Ocugen (NASDAQ:OCGN) Issues Earnings Results

Ocugen (NASDAQ:OCGN) announced its earnings results on Friday. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01, Zacks reports. The firm had revenue of $1.48 million for the quarter. Ocugen had a negative net margin of 532.51% and a negative return on equity of 154.75%.

Ocugen Stock Performance

Shares of Ocugen stock opened at $0.67 on Friday. Ocugen has a 1 year low of $0.52 and a 1 year high of $2.06. The firm’s 50-day moving average is $0.66 and its 200 day moving average is $0.76. The stock has a market cap of $195.80 million, a price-to-earnings ratio of -3.72 and a beta of 4.21. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.58 and a quick ratio of 2.58.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Chardan Capital boosted their price objective on shares of Ocugen from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of Ocugen in a report on Thursday, March 6th.

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.