Ocugen (NASDAQ:OCGN) Given Buy Rating at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Ocugen (NASDAQ:OCGN - Free Report) in a report published on Friday,Benzinga reports. They currently have a $6.00 price target on the stock.

Several other brokerages have also recently commented on OCGN. HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of Ocugen in a research report on Wednesday, October 23rd. Maxim Group initiated coverage on shares of Ocugen in a report on Tuesday, October 15th. They set a "buy" rating and a $4.00 target price on the stock.

Ocugen Trading Up 7.9 %

OCGN stock traded up $0.08 during midday trading on Friday, reaching $1.06. The company's stock had a trading volume of 3,752,021 shares, compared to its average volume of 6,146,301. The firm has a market capitalization of $306.23 million, a price-to-earnings ratio of -5.39 and a beta of 3.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. Ocugen has a 1 year low of $0.35 and a 1 year high of $2.11. The stock has a fifty day simple moving average of $1.03 and a two-hundred day simple moving average of $1.35.

Ocugen (NASDAQ:OCGN - Get Free Report) 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, equities research analysts predict that Ocugen will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in shares of Ocugen in the 3rd quarter worth approximately $93,000. GSA Capital Partners LLP bought a new position in shares of Ocugen in the third quarter worth $203,000. NorthCrest Asset Manangement LLC acquired a new position in Ocugen during the 3rd quarter valued at about $90,000. SG Americas Securities LLC acquired a new stake in Ocugen in the third quarter worth approximately $87,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Ocugen in the 2nd quarter worth approximately $166,000. 10.27% of the stock is currently owned by hedge funds and other institutional investors.

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.