What is HC Wainwright’s Estimate for Ocugen FY2029 Earnings?

Ocugen, Inc. (NASDAQ:OCGN) – HC Wainwright issued their FY2029 EPS estimates for shares of Ocugen in a report issued on Thursday, March 6th. HC Wainwright analyst S. Ramakanth expects that the company will post earnings of $1.15 per share for the year. HC Wainwright currently has a “Buy” rating and a $8.00 target price on the stock. The consensus estimate for Ocugen’s current full-year earnings is ($0.20) per share.

Separately, Chardan Capital boosted their price target on Ocugen from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday.

Ocugen Stock Performance

Shares of Ocugen stock opened at $0.61 on Friday. Ocugen has a 12 month low of $0.55 and a 12 month high of $2.11. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $0.73 and a two-hundred day simple moving average of $0.91. The firm has a market capitalization of $177.76 million, a P/E ratio of -3.39 and a beta of 3.88.

Ocugen (NASDAQ:OCGN) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $0.76 million for the quarter, compared to analyst estimates of $0.30 million. Ocugen had a negative return on equity of 154.75% and a negative net margin of 532.51%. During the same period in the previous year, the company posted ($0.03) earnings per share.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Ocugen by 7.1% during the 3rd 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 last quarter. Geode Capital Management LLC increased its stake in shares of Ocugen by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 6,588,407 shares of the company’s stock worth $5,305,000 after purchasing an additional 309,853 shares in the last quarter. Northern Trust Corp raised its holdings in Ocugen by 10.4% during the fourth quarter. Northern Trust Corp now owns 2,407,137 shares of the company’s stock valued at $1,938,000 after acquiring an additional 227,150 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Ocugen in the fourth quarter valued at about $1,681,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Ocugen by 12.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 860,244 shares of the company’s stock valued at $692,000 after purchasing an additional 93,288 shares during the period. Institutional investors own 10.27% of the company’s stock.

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.