HC Wainwright Reaffirms “Buy” Rating for Ocugen (NASDAQ:OCGN)

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

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

Ocugen Trading Down 0.9 %

Shares of NASDAQ OCGN opened at $0.93 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50 day moving average price is $1.12 and its 200-day moving average price is $1.41. Ocugen has a fifty-two week low of $0.35 and a fifty-two week high of $2.11. The company has a market cap of $239.34 million, a price-to-earnings ratio of -3.72 and a beta of 3.70.

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

Institutional Trading of Ocugen

Institutional investors have recently added to or reduced their stakes in the stock. Xponance Inc. acquired a new position in Ocugen during the second quarter worth approximately $25,000. Baader Bank Aktiengesellschaft acquired a new stake in Ocugen in the second quarter valued at $35,000. Victory Capital Management Inc. acquired a new stake in shares of Ocugen during the second quarter worth $51,000. Headlands Technologies LLC acquired a new stake in shares of Ocugen in the 1st quarter worth about $66,000. Finally, Daiwa Securities Group Inc. bought a new position in Ocugen in the 2nd quarter valued at about $67,000. Hedge funds and other institutional investors own 10.27% of the company’s stock.

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.