HC Wainwright Reiterates Buy Rating for Ocugen (NASDAQ:OCGN)

Ocugen (NASDAQ:OCGN)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They currently have a $7.00 target price on the stock.

Separately, Maxim Group began coverage on Ocugen in a report on Tuesday, October 15th. They set a “buy” rating and a $4.00 target price on the stock.

Ocugen Stock Performance

Ocugen stock opened at $0.89 on Wednesday. The stock has a 50-day simple moving average of $1.11 and a 200 day simple moving average of $1.40. The stock has a market capitalization of $229.92 million, a price-to-earnings ratio of -3.57 and a beta of 3.70. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. Ocugen has a 12-month low of $0.35 and a 12-month high of $2.11.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $1.14 million during the quarter. During the same quarter last year, the firm earned ($0.10) EPS. On average, research analysts anticipate that Ocugen will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Xponance Inc. acquired a new position in shares of Ocugen in the second quarter valued at approximately $25,000. Baader Bank Aktiengesellschaft bought a new stake in Ocugen in the 2nd quarter valued at $35,000. Victory Capital Management Inc. acquired a new position in Ocugen in the 2nd quarter valued at $51,000. Headlands Technologies LLC acquired a new position in Ocugen in the 1st quarter valued at $66,000. Finally, Daiwa Securities Group Inc. bought a new position in Ocugen during the 2nd quarter worth $67,000. 10.27% of the stock is currently owned by institutional investors and hedge funds.

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.