HC Wainwright Issues Optimistic Forecast for Ocugen Earnings

Ocugen, Inc. (NASDAQ:OCGN - Free Report) - Equities research analysts at HC Wainwright lifted their FY2024 earnings per share estimates for shares of Ocugen in a report released on Thursday, February 13th. HC Wainwright analyst S. Ramakanth now anticipates that the company will earn ($0.17) per share for the year, up from their prior forecast of ($0.18). HC Wainwright has a "Buy" rating and a $8.00 price target on the stock. The consensus estimate for Ocugen's current full-year earnings is ($0.20) per share. HC Wainwright also issued estimates for Ocugen's Q4 2024 earnings at ($0.04) EPS, Q1 2025 earnings at ($0.04) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.05) EPS and FY2025 earnings at ($0.18) EPS.

Separately, Chardan Capital restated a "buy" rating and issued a $6.00 target price on shares of Ocugen in a research report on Thursday, February 13th.

Ocugen Stock Performance

Shares of Ocugen stock traded up $0.00 during trading on Monday, hitting $0.70. 3,351,645 shares of the stock were exchanged, compared to its average volume of 4,231,157. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.58 and a current ratio of 2.58. Ocugen has a 12 month low of $0.64 and a 12 month high of $2.11. The stock's fifty day moving average is $0.77 and its 200 day moving average is $0.96. The stock has a market cap of $203.98 million, a PE ratio of -3.89 and a beta of 3.82.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new stake in shares of Ocugen during the 2nd quarter worth about $166,000. SG Americas Securities LLC acquired a new stake in Ocugen in the third quarter worth approximately $87,000. NorthCrest Asset Manangement LLC bought a new position in Ocugen during the 3rd quarter valued at $90,000. GSA Capital Partners LLP acquired a new position in shares of Ocugen during the 3rd quarter valued at $203,000. Finally, Intech Investment Management LLC bought a new stake in shares of Ocugen in the 3rd quarter worth $93,000. Institutional investors 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.