HC Wainwright Issues Positive Forecast for Ocugen (NASDAQ:OCGN) Stock Price

Ocugen (NASDAQ:OCGN) had its price objective lifted by HC Wainwright from $7.00 to $8.00 in a research report report published on Thursday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Separately, Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Ocugen in a research note on Thursday, January 23rd.

Ocugen Trading Up 6.5 %

Shares of OCGN stock opened at $0.70 on Thursday. The stock has a market cap of $204.71 million, a price-to-earnings ratio of -3.90 and a beta of 3.82. The stock has a 50-day moving average of $0.78 and a 200-day moving average of $0.98. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.04. Ocugen has a 1-year low of $0.61 and a 1-year high of $2.11.

Institutional Investors Weigh In On Ocugen

A number of hedge funds have recently added to or reduced their stakes in OCGN. XTX Topco Ltd boosted its holdings in shares of Ocugen by 8.5% during the 4th quarter. XTX Topco Ltd now owns 254,995 shares of the company’s stock worth $205,000 after buying an additional 19,894 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Ocugen during the 4th quarter valued at $1,681,000. Invesco Ltd. boosted its stake in Ocugen by 39.0% during the fourth quarter. Invesco Ltd. now owns 173,553 shares of the company’s stock worth $140,000 after acquiring an additional 48,679 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Ocugen by 63.3% in the fourth quarter. Wells Fargo & Company MN now owns 141,773 shares of the company’s stock worth $114,000 after purchasing an additional 54,935 shares during the period. Finally, Geode Capital Management LLC increased its stake in Ocugen by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 6,588,407 shares of the company’s stock valued at $5,305,000 after purchasing an additional 309,853 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.