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

Ocugen (NASDAQ:OCGN - Get Free Report) had its price objective lifted by analysts at HC Wainwright from $7.00 to $8.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock.

Separately, Chardan Capital reaffirmed a "buy" rating and set a $6.00 price target on shares of Ocugen in a report on Thursday, January 23rd.

Ocugen Stock Performance

OCGN traded up $0.02 on Thursday, hitting $0.72. 2,536,669 shares of the company traded hands, compared to its average volume of 3,688,040. Ocugen has a 12-month low of $0.64 and a 12-month high of $2.11. The company has a 50 day moving average of $0.78 and a 200-day moving average of $0.97. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $209.14 million, a PE ratio of -3.99 and a beta of 3.82.

Hedge Funds Weigh In On Ocugen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new stake in shares of Ocugen in the 4th quarter valued at approximately $30,000. Ameriprise Financial Inc. purchased a new position in Ocugen in the fourth quarter worth $30,000. Virtu Financial LLC purchased a new stake in shares of Ocugen during the 4th quarter worth $32,000. Tower Research Capital LLC TRC grew its stake in shares of Ocugen by 309.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 39,848 shares of the company's stock worth $32,000 after purchasing an additional 30,120 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Ocugen in the 4th quarter valued at about $40,000. Institutional investors and hedge funds 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.