Ocugen (NASDAQ:OCGN) Stock Rating Reaffirmed by HC Wainwright

Ocugen (NASDAQ:OCGN)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $7.00 target price on the stock.

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

Ocugen Stock Down 1.8 %

Shares of OCGN opened at $0.89 on Wednesday. The firm has a 50 day simple moving average of $1.11 and a two-hundred day simple moving average of $1.40. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. Ocugen has a one year low of $0.35 and a one year high of $2.11. The company has a market cap of $229.92 million, a P/E ratio of -3.57 and a beta of 3.70.

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

Hedge Funds Weigh In On Ocugen

A number of large investors have recently modified their holdings of OCGN. Headlands Technologies LLC bought a new stake in Ocugen during the first quarter worth $66,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Ocugen in the 1st quarter worth $132,000. Tidal Investments LLC purchased a new stake in shares of Ocugen in the first quarter valued at about $108,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Ocugen in the second quarter valued at about $35,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Ocugen by 2,760.5% during the second quarter. Bank of New York Mellon Corp now owns 751,819 shares of the company’s stock valued at $1,165,000 after purchasing an additional 725,536 shares in the last quarter. 10.27% of the stock is currently owned by 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.