Analysts Set Ocugen, Inc. (NASDAQ:OCGN) Price Target at $9.50

Shares of Ocugen, Inc. (NASDAQ:OCGNGet Free Report) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $9.50.

Several brokerages recently commented on OCGN. Weiss Ratings lowered Ocugen from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Wall Street Zen raised Ocugen from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Oppenheimer began coverage on Ocugen in a research report on Wednesday, March 11th. They issued an “outperform” rating and a $10.00 target price on the stock. Canaccord Genuity Group cut their price target on Ocugen from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $7.00 price target on shares of Ocugen in a research report on Wednesday, March 25th.

Check Out Our Latest Stock Report on OCGN

Insider Transactions at Ocugen

In other Ocugen news, CFO Treerita Essali Johnson-Greene bought 21,000 shares of Ocugen stock in a transaction on Monday, June 15th. The stock was acquired at an average cost of $1.23 per share, with a total value of $25,830.00. Following the completion of the acquisition, the chief financial officer owned 521,000 shares in the company, valued at approximately $640,830. This represents a 4.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.95% of the company’s stock.

Institutional Investors Weigh In On Ocugen

Hedge funds have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. bought a new position in Ocugen in the 4th quarter worth $1,358,000. UBS Group AG grew its holdings in Ocugen by 373.2% during the fourth quarter. UBS Group AG now owns 4,849,353 shares of the company’s stock valued at $6,547,000 after purchasing an additional 3,824,474 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Ocugen during the fourth quarter valued at about $289,000. Cora Capital Advisors LLC increased its position in Ocugen by 27.5% in the fourth quarter. Cora Capital Advisors LLC now owns 30,143 shares of the company’s stock worth $41,000 after buying an additional 6,500 shares in the last quarter. Finally, Procyon Advisors LLC increased its position in Ocugen by 6.2% in the fourth quarter. Procyon Advisors LLC now owns 224,100 shares of the company’s stock worth $303,000 after buying an additional 13,000 shares in the last quarter. Institutional investors own 10.27% of the company’s stock.

Ocugen Trading Down 3.3%

Shares of OCGN stock opened at $1.48 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 4.17. Ocugen has a 12-month low of $0.90 and a 12-month high of $2.73. The stock has a market capitalization of $501.01 million, a P/E ratio of -6.17 and a beta of 2.17. The firm’s 50 day moving average is $1.42 and its 200 day moving average is $1.59.

Ocugen (NASDAQ:OCGNGet Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $1.53 million for the quarter, compared to analyst estimates of $0.42 million. Research analysts expect that Ocugen will post -0.22 earnings per share for the current year.

Ocugen Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Ocugen (NASDAQ:OCGN)

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