FY2024 Earnings Estimate for Ocugen Issued By HC Wainwright

Ocugen, Inc. (NASDAQ:OCGN - Free Report) - Investment analysts at HC Wainwright boosted their FY2024 earnings estimates for shares of Ocugen in a research note issued to investors on Thursday, February 13th. HC Wainwright analyst S. Ramakanth now anticipates that the company will post earnings per share of ($0.17) for the year, up from their previous forecast of ($0.18). HC Wainwright currently 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 reissued a "buy" rating and set a $6.00 price target on shares of Ocugen in a research report on Thursday, February 13th.

Ocugen Stock Performance

OCGN traded down $0.02 during trading on Monday, reaching $0.68. 2,503,921 shares of the company's stock were exchanged, compared to its average volume of 4,180,790. Ocugen has a 1 year low of $0.64 and a 1 year high of $2.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.58 and a quick ratio of 2.58. The stock has a market capitalization of $198.10 million, a P/E ratio of -3.78 and a beta of 3.82. The company's fifty day simple moving average is $0.76 and its 200-day simple moving average is $0.95.

Hedge Funds Weigh In On Ocugen

Several institutional investors have recently made changes to their positions in OCGN. Barclays PLC grew its stake in Ocugen by 104.3% in the 3rd quarter. Barclays PLC now owns 581,087 shares of the company's stock valued at $577,000 after acquiring an additional 296,654 shares during the period. State Street Corp grew its stake in Ocugen by 7.1% in the 3rd quarter. State Street Corp now owns 15,824,517 shares of the company's stock valued at $15,701,000 after acquiring an additional 1,047,896 shares during the period. SG Americas Securities LLC grew its stake in Ocugen by 72.7% in the 4th quarter. SG Americas Securities LLC now owns 152,176 shares of the company's stock valued at $123,000 after acquiring an additional 64,080 shares during the period. Geode Capital Management LLC grew its stake in Ocugen by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,278,554 shares of the company's stock valued at $6,231,000 after acquiring an additional 373,555 shares during the period. Finally, Franklin Resources Inc. acquired a new stake in Ocugen in the 3rd quarter valued at $142,000. 10.27% of the stock is owned by hedge funds and other institutional investors.

About Ocugen

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.