Ocugen’s (OCGN) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Ocugen (NASDAQ:OCGN) in a report issued on Monday morning,Benzinga reports. The firm currently has a $7.00 target price on the stock.

Several other research firms also recently commented on OCGN. Maxim Group assumed coverage on Ocugen in a report on Tuesday, October 15th. They set a “buy” rating and a $4.00 price objective on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Ocugen in a research note on Monday, November 18th.

Ocugen Stock Performance

Shares of NASDAQ:OCGN opened at $0.73 on Monday. The firm’s 50 day simple moving average is $0.88 and its 200-day simple moving average is $1.12. 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 one year low of $0.49 and a one year high of $2.11. The firm has a market cap of $212.34 million, a PE ratio of -4.05 and a beta of 3.85.

Hedge Funds Weigh In On Ocugen

Several institutional investors have recently bought and sold shares of the business. State Street Corp lifted its holdings in Ocugen by 7.1% during the third quarter. State Street Corp now owns 15,824,517 shares of the company’s stock worth $15,701,000 after buying an additional 1,047,896 shares during the period. Geode Capital Management LLC lifted its stake in shares of Ocugen by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,278,554 shares of the company’s stock worth $6,231,000 after purchasing an additional 373,555 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Ocugen by 2,760.5% in the second quarter. Bank of New York Mellon Corp now owns 751,819 shares of the company’s stock valued at $1,165,000 after purchasing an additional 725,536 shares during the last quarter. Barclays PLC lifted its position in shares of Ocugen by 104.3% during the third quarter. Barclays PLC now owns 581,087 shares of the company’s stock valued at $577,000 after buying an additional 296,654 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Ocugen in the 3rd quarter valued at about $456,000. 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.