What is HC Wainwright's Forecast for Ocugen FY2029 Earnings?

Ocugen, Inc. (NASDAQ:OCGN - Free Report) - Investment analysts at HC Wainwright issued their FY2029 EPS estimates for Ocugen in a research note issued to investors on Thursday, March 6th. HC Wainwright analyst S. Ramakanth forecasts that the company will earn $1.15 per share for the year. 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.

Separately, Chardan Capital raised their target price on shares of Ocugen from $6.00 to $7.00 and gave the company a "buy" rating in a research note on Thursday, March 6th.

Ocugen Stock Performance

Ocugen stock traded down $0.01 during trading hours on Friday, reaching $0.55. 4,553,080 shares of the company were exchanged, compared to its average volume of 4,219,085. Ocugen has a 12 month low of $0.52 and a 12 month high of $2.11. The firm has a market cap of $159.61 million, a price-to-earnings ratio of -3.04 and a beta of 3.88. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average of $0.72 and a 200 day moving average of $0.90.

Ocugen (NASDAQ:OCGN - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Ocugen had a negative return on equity of 154.75% and a negative net margin of 532.51%. The company had revenue of $0.76 million during the quarter, compared to the consensus estimate of $0.30 million. During the same quarter in the prior year, the company posted ($0.03) EPS.

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Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new stake in shares of Ocugen in the fourth quarter valued at approximately $30,000. Ameriprise Financial Inc. acquired a new position in Ocugen during the 4th quarter valued at $30,000. Virtu Financial LLC bought a new stake in Ocugen in the 4th quarter valued at $32,000. Tower Research Capital LLC TRC grew its position in Ocugen by 309.6% in 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 last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Ocugen during the 4th quarter worth about $40,000. 10.27% of the stock is owned by institutional investors.

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.