Chardan Capital Reiterates Buy Rating for Ocugen (NASDAQ:OCGN)

Ocugen (NASDAQ:OCGN)‘s stock had its “buy” rating reaffirmed by equities researchers at Chardan Capital in a research report issued on Thursday,Benzinga reports. They presently have a $6.00 price target on the stock.

A number of other equities analysts also recently weighed in on the stock. Maxim Group initiated coverage on shares of Ocugen in a research note on Tuesday, October 15th. They issued a “buy” rating and a $4.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Ocugen in a research note on Monday, January 13th.

Ocugen Price Performance

OCGN traded down $0.02 during trading on Thursday, reaching $0.73. The stock had a trading volume of 268,278 shares, compared to its average volume of 4,946,746. The firm has a market capitalization of $213.83 million, a price-to-earnings ratio of -4.08 and a beta of 3.85. Ocugen has a 1-year low of $0.50 and a 1-year high of $2.11. The stock has a 50 day moving average of $0.84 and a two-hundred day moving average of $1.09. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.04.

Institutional Investors Weigh In On Ocugen

Large investors have recently bought and sold shares of the business. State Street Corp boosted its holdings in Ocugen by 7.1% during the third quarter. State Street Corp now owns 15,824,517 shares of the company’s stock valued at $15,701,000 after acquiring an additional 1,047,896 shares during the period. Geode Capital Management LLC lifted its stake in shares of Ocugen by 6.3% in the third quarter. Geode Capital Management LLC now owns 6,278,554 shares of the company’s stock valued at $6,231,000 after buying an additional 373,555 shares during the period. Barclays PLC lifted its stake in shares of Ocugen by 104.3% in the third quarter. Barclays PLC now owns 581,087 shares of the company’s stock valued at $577,000 after buying an additional 296,654 shares during the period. Wellington Management Group LLP bought a new stake in shares of Ocugen in the third quarter valued at about $456,000. Finally, Rhumbline Advisers lifted its stake in shares of Ocugen by 3,040.0% in the second quarter. Rhumbline Advisers now owns 301,218 shares of the company’s stock valued at $467,000 after buying an additional 291,625 shares during the period. 10.27% of the stock is currently owned by institutional investors.

About Ocugen

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.