Ocugen (NASDAQ:OCGN - Get Free Report) released its quarterly earnings data on Wednesday. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05), Zacks reports. The business had revenue of $0.76 million for the quarter, compared to analysts' expectations 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 quarter in the previous year, the business posted ($0.03) EPS.
Ocugen Stock Performance
NASDAQ OCGN traded down $0.02 on Friday, reaching $0.61. The stock had a trading volume of 2,964,179 shares, compared to its average volume of 4,197,697. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.58 and a quick ratio of 2.58. The firm has a fifty day moving average of $0.73 and a two-hundred day moving average of $0.90. Ocugen has a 1-year low of $0.55 and a 1-year high of $2.11. The company has a market cap of $177.76 million, a P/E ratio of -3.39 and a beta of 3.88.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the company. HC Wainwright restated a "buy" rating and issued a $8.00 target price on shares of Ocugen in a research note on Thursday. Chardan Capital boosted their target price on Ocugen from $6.00 to $7.00 and gave the stock a "buy" rating in a report on Thursday.
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Ocugen Company Profile
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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.
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