Chardan Capital reissued their buy rating on shares of Ocugen (NASDAQ:OCGN - Free Report) in a report released on Thursday morning,Benzinga reports. Chardan Capital currently has a $6.00 price objective on the stock.
OCGN has been the topic of several other reports. HC Wainwright reiterated a "buy" rating and set a $7.00 target price on shares of Ocugen in a research report on Monday, January 13th. Maxim Group began coverage on Ocugen in a research report on Tuesday, October 15th. They set a "buy" rating and a $4.00 target price on the stock.
Check Out Our Latest Analysis on OCGN
Ocugen Price Performance
Shares of OCGN traded up $0.02 during trading hours on Thursday, reaching $0.78. 3,386,443 shares of the company traded hands, compared to its average volume of 5,168,944. The stock has a fifty day simple moving average of $0.84 and a 200 day simple moving average of $1.09. Ocugen has a fifty-two week low of $0.50 and a fifty-two week high of $2.11. The stock has a market capitalization of $227.20 million, a PE ratio of -4.33 and a beta of 3.85. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.04.
Hedge Funds Weigh In On Ocugen
A number of large investors have recently modified their holdings of OCGN. Xponance Inc. acquired a new stake in shares of Ocugen in the second quarter valued at about $25,000. SG Americas Securities LLC acquired a new stake in shares of Ocugen in the third quarter valued at about $87,000. MetLife Investment Management LLC grew its stake in shares of Ocugen by 36.4% in the third quarter. MetLife Investment Management LLC now owns 89,508 shares of the company's stock valued at $89,000 after buying an additional 23,877 shares in the last quarter. NorthCrest Asset Manangement LLC acquired a new stake in shares of Ocugen in the third quarter valued at about $90,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Ocugen in the third quarter valued at about $93,000. 10.27% of the stock is currently owned by hedge funds and other institutional investors.
About Ocugen
(
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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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