Ocugen (NASDAQ:OCGN) Given “Buy” Rating at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Ocugen (NASDAQ:OCGN) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $7.00 price target on the stock.

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

Ocugen Trading Down 1.0%

NASDAQ:OCGN opened at $1.03 on Tuesday. Ocugen has a 12 month low of $0.52 and a 12 month high of $1.98. The firm has a fifty day simple moving average of $0.87 and a 200-day simple moving average of $0.76. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $300.79 million, a P/E ratio of -5.42 and a beta of 4.20.

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

Institutional Trading of Ocugen

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in Ocugen during the fourth quarter valued at $1,681,000. GMT Capital Corp raised its stake in shares of 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 during the last quarter. Nuveen LLC acquired a new position in shares of Ocugen in the 1st quarter valued at about $535,000. GSA Capital Partners LLP lifted its holdings in shares of Ocugen by 43.0% in the 1st quarter. GSA Capital Partners LLP now owns 1,638,033 shares of the company’s stock valued at $1,157,000 after buying an additional 492,300 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of Ocugen by 258.8% in the fourth quarter. Jane Street Group LLC now owns 496,177 shares of the company’s stock worth $399,000 after buying an additional 357,891 shares during the last quarter. Institutional investors and hedge funds 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.