Ocugen (NASDAQ:OCGN - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Chardan Capital in a research note issued to investors on Thursday,Benzinga reports. They presently have a $6.00 price target on the stock.
Separately, HC Wainwright lifted their price objective on shares of Ocugen from $7.00 to $8.00 and gave the company a "buy" rating in a report on Thursday.
Read Our Latest Research Report on OCGN
Ocugen Stock Up 2.2 %
Shares of NASDAQ OCGN traded up $0.02 during midday trading on Thursday, reaching $0.72. The company's stock had a trading volume of 2,536,669 shares, compared to its average volume of 3,688,040. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.04. Ocugen has a fifty-two week low of $0.64 and a fifty-two week high of $2.11. The stock has a market capitalization of $209.14 million, a price-to-earnings ratio of -3.99 and a beta of 3.82. The stock has a 50 day simple moving average of $0.78 and a 200-day simple moving average of $0.97.
Institutional Trading of Ocugen
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company acquired a new position in Ocugen during the second quarter worth $166,000. SG Americas Securities LLC acquired a new position in Ocugen during the third quarter worth $87,000. NorthCrest Asset Manangement LLC acquired a new position in Ocugen during the third quarter worth $90,000. GSA Capital Partners LLP acquired a new position in Ocugen during the third quarter worth $203,000. Finally, Intech Investment Management LLC acquired a new position in Ocugen during the third quarter worth $93,000. 10.27% of the stock is currently owned by institutional investors and hedge funds.
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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