Ocugen (NASDAQ:OCGN) Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Ocugen (NASDAQ:OCGN) from a sell rating to a hold rating in a research report report published on Saturday.

A number of other equities analysts have also weighed in on OCGN. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Ocugen in a research report on Tuesday, June 24th. Chardan Capital restated a “buy” rating and set a $7.00 target price on shares of Ocugen in a research note on Friday. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $6.00.

Ocugen Stock Performance

NASDAQ:OCGN opened at $1.39 on Friday. The company has a debt-to-equity ratio of 9.18, a quick ratio of 1.83 and a current ratio of 1.83. The stock has a 50-day simple moving average of $1.06 and a two-hundred day simple moving average of $0.90. The firm has a market capitalization of $406.30 million, a PE ratio of -6.95 and a beta of 4.16. Ocugen has a 52-week low of $0.52 and a 52-week high of $1.48.

Ocugen (NASDAQ:OCGN) last posted its quarterly earnings data on Friday, August 1st. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of $1.37 million for the quarter, compared to analysts’ expectations of $0.35 million. Ocugen had a negative return on equity of 255.25% and a negative net margin of 1,197.71%. Analysts forecast that Ocugen will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Ocugen

Several institutional investors have recently bought and sold shares of OCGN. Northwestern Mutual Wealth Management Co. purchased a new position in Ocugen during the 1st quarter valued at approximately $28,000. Vanguard Personalized Indexing Management LLC boosted 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 acquiring an additional 9,791 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Ocugen in the fourth quarter valued at $30,000. BNP Paribas Financial Markets bought a new stake in Ocugen in the fourth quarter worth $30,000. Finally, NewEdge Advisors LLC increased its position in Ocugen by 198.0% in the second quarter. NewEdge Advisors LLC now owns 36,814 shares of the company’s stock worth $36,000 after purchasing an additional 24,460 shares during the last quarter. 10.27% of the stock is owned by hedge funds and other institutional investors.

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.