Chardan Capital Reaffirms Buy Rating for Ocugen (NASDAQ:OCGN)

Chardan Capital restated their buy rating on shares of Ocugen (NASDAQ:OCGN) in a research report report published on Thursday morning,Benzinga reports. Chardan Capital currently has a $6.00 target price on the stock.

Separately, HC Wainwright lifted their price target on Ocugen from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday.

Ocugen Stock Up 2.2 %

Shares of OCGN stock opened at $0.72 on Thursday. Ocugen has a 12-month low of $0.64 and a 12-month high of $2.11. 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 firm has a fifty day moving average of $0.78 and a 200-day moving average of $0.97. The company has a market capitalization of $209.14 million, a price-to-earnings ratio of -3.99 and a beta of 3.82.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in shares of Ocugen during the 4th quarter worth about $32,000. Tower Research Capital LLC TRC boosted its position in Ocugen by 309.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 39,848 shares of the company’s stock valued at $32,000 after purchasing an additional 30,120 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Ocugen in the fourth quarter valued at approximately $40,000. Two Sigma Securities LLC increased its position in shares of Ocugen by 92.9% during the 4th quarter. Two Sigma Securities LLC now owns 51,909 shares of the company’s stock worth $42,000 after purchasing an additional 25,004 shares during the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management bought a new stake in shares of Ocugen during the 4th quarter worth approximately $56,000. Institutional investors own 10.27% of the company’s stock.

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.