Ocugen (NASDAQ:OCGN) Announces Quarterly Earnings Results

Ocugen (NASDAQ:OCGN) announced its quarterly earnings data on Thursday. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02), FiscalAI reports. The business had revenue of $1.49 million for the quarter, compared to analyst estimates of $0.89 million.

Here are the key takeaways from Ocugen’s conference call:

• OCU410 received FDA clearance to begin its Phase III ARMADA-3 trial in geographic atrophy, along with RMAT designation. The approximately 237-patient global study is expected to start by September 2026, supported by Phase II data showing a 31% reduction in lesion growth at the optimal dose.
• Ocugen expects several major clinical catalysts, including an interim decision for OCU410ST in Stargardt disease in the third quarter of 2026 and top-line data for OCU400 and OCU410ST in the first half of 2027. Management continues to target three BLA submissions by 2028.
• Enrollment is complete in the 140-patient Phase III liMeliGhT trial for OCU400 in broad retinitis pigmentosa, with top-line data expected in the first quarter of 2027. The company also completed manufacturing qualification batches intended to support potential BLA filings and commercial supply.
• Ocugen closed a $130 million convertible notes financing, reporting $100.4 million in cash, cash equivalents, and restricted cash at June 30, which management says extends its runway into 2028. It also signed a binding term sheet granting Roots Pharmaceutical and Al-Dhow International exclusive OCU400 rights in the Middle East and North Africa.
• Operating expenses increased to $17.9 million in the quarter from $15.2 million a year earlier, while quarterly net loss widened to $0.07 per share from $0.05. Management is evaluating additional financing, warrant exercises, business-development transactions, and a potential share authorization increase, creating possible future dilution.

Ocugen Price Performance

Shares of NASDAQ OCGN traded down $0.04 during midday trading on Thursday, hitting $1.24. The stock had a trading volume of 5,555,461 shares, compared to its average volume of 4,795,637. The stock has a 50 day simple moving average of $1.34 and a 200-day simple moving average of $1.57. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 4.17. The company has a market capitalization of $420.50 million, a PE ratio of -5.17 and a beta of 2.21. Ocugen has a 1 year low of $0.94 and a 1 year high of $2.73.

Insider Buying and Selling at Ocugen

In other Ocugen news, CFO Treerita Essali Johnson-Greene purchased 21,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of $1.23 per share, for a total transaction of $25,830.00. Following the completion of the transaction, the chief financial officer owned 521,000 shares of the company’s stock, valued at $640,830. The trade was a 4.20% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.95% of the company’s stock.

Institutional Investors Weigh In On Ocugen

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jain Global LLC boosted its holdings in Ocugen by 7.2% in the 4th quarter. Jain Global LLC now owns 114,690 shares of the company’s stock valued at $155,000 after purchasing an additional 7,686 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Ocugen by 56.7% in the second quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company’s stock valued at $36,000 after acquiring an additional 13,326 shares during the last quarter. SmartHarvest Portfolios LLC purchased a new position in Ocugen in the fourth quarter worth approximately $31,000. NewEdge Advisors LLC increased its stake in Ocugen by 198.0% during the second quarter. NewEdge Advisors LLC now owns 36,814 shares of the company’s stock worth $36,000 after acquiring an additional 24,460 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Ocugen in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 10.27% of the company’s stock.

Analysts Set New Price Targets

OCGN has been the subject of several recent research reports. Canaccord Genuity Group reduced their target price on shares of Ocugen from $12.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Weiss Ratings lowered shares of Ocugen from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen raised Ocugen from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Ocugen Company Profile

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.