Ocugen, Inc. (OCGN) – What Are Analysts Thinking About This Stock?

Shares of Ocugen, Inc. (NASDAQ:OCGN) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $9.50.

Several brokerages have recently commented on OCGN. Weiss Ratings raised Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Wall Street Zen raised Ocugen from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd.

Insider Activity at Ocugen

In other Ocugen news, CEO Shankar Musunuri sold 468,727 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $1.12, for a total value of $524,974.24. Following the completion of the transaction, the chief executive officer directly owned 4,487,197 shares in the company, valued at $5,025,660.64. This trade represents a 9.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ocugen

Several hedge funds have recently made changes to their positions in the company. GTS Securities LLC purchased a new position in shares of Ocugen during the second quarter valued at $27,000. Engineers Gate Manager LP raised its position in Ocugen by 70.2% during the second quarter. Engineers Gate Manager LP now owns 18,368 shares of the company’s stock valued at $28,000 after buying an additional 7,577 shares during the period. CTC Alternative Strategies Ltd. purchased a new stake in Ocugen in the 1st quarter worth about $34,000. Diversify Advisory Services LLC purchased a new stake in Ocugen in the 2nd quarter worth about $25,000. Finally, Legal & General Group Plc purchased a new stake in Ocugen in the 2nd quarter worth about $51,000. Hedge funds and other institutional investors own 10.27% of the company’s stock.

Ocugen Trading Down 2.2%

Ocugen stock opened at $0.96 on Friday. The firm has a market cap of $324.02 million, a price-to-earnings ratio of -3.67 and a beta of 2.27. Ocugen has a 1 year low of $0.90 and a 1 year high of $2.73. The firm’s 50 day moving average price is $1.20 and its two-hundred day moving average price is $1.40. The company has a debt-to-equity ratio of 4.17, a quick ratio of 0.80 and a current ratio of 0.80.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The firm had revenue of $1.49 million during the quarter, compared to the consensus estimate of $0.89 million. On average, research analysts predict that Ocugen will post -0.25 EPS for the current fiscal year.

Ocugen Company Profile

Ocugen, Inc (NASDAQ: OCGN) is a biotechnology company focused on developing gene and cell therapies for blindness diseases and other serious medical conditions. The company’s platform includes modifier gene therapy, which is designed to address common disease pathways and potentially treat multiple genetic disorders with a single therapeutic approach.

Ocugen’s ophthalmic pipeline includes OCU400, an investigational gene therapy being developed for certain forms of retinitis pigmentosa, as well as OCU410 and OCU410ST, which are being studied for geographic atrophy associated with age-related macular degeneration.