Ocugen's (OCGN) Buy Rating Reaffirmed at HC Wainwright

Ocugen (NASDAQ:OCGN - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $7.00 price target on the stock.

OCGN has been the subject of several other reports. Chardan Capital reiterated a "buy" rating and set a $6.00 price objective on shares of Ocugen in a research note on Monday, November 18th. Maxim Group assumed coverage on shares of Ocugen in a research report on Tuesday, October 15th. They set a "buy" rating and a $4.00 target price for the company.

Ocugen Price Performance

OCGN traded down $0.04 during midday trading on Monday, reaching $0.75. 5,752,506 shares of the company's stock were exchanged, compared to its average volume of 5,662,807. 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 business has a 50-day simple moving average of $0.89 and a two-hundred day simple moving average of $1.13. The firm has a market capitalization of $218.87 million, a price-to-earnings ratio of -4.17 and a beta of 3.85. Ocugen has a one year low of $0.49 and a one year high of $2.11.

Institutional Trading of Ocugen

A number of hedge funds and other institutional investors have recently made changes to their positions in OCGN. Xponance Inc. bought a new position in Ocugen in the second quarter valued at approximately $25,000. Victory Capital Management Inc. acquired a new position in Ocugen in the second quarter valued at about $51,000. Daiwa Securities Group Inc. bought a new stake in shares of Ocugen in the second quarter worth about $67,000. E Fund Management Co. Ltd. acquired a new stake in shares of Ocugen during the second quarter worth about $75,000. Finally, SG Americas Securities LLC bought a new position in shares of Ocugen during the 3rd quarter valued at about $87,000. 10.27% of the stock is currently owned by institutional investors and hedge funds.

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.