FY2024 Earnings Forecast for Ocugen Issued By HC Wainwright

Ocugen, Inc. (NASDAQ:OCGN) – Research analysts at HC Wainwright decreased their FY2024 earnings per share (EPS) estimates for shares of Ocugen in a note issued to investors on Monday, November 11th. HC Wainwright analyst S. Ramakanth now anticipates that the company will earn ($0.18) per share for the year, down from their previous forecast of ($0.17). HC Wainwright has a “Buy” rating and a $7.00 price objective 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 ($0.05) EPS and FY2025 earnings at ($0.20) EPS.

Several other research analysts have also weighed in on OCGN. Chardan Capital reiterated a “buy” rating and issued a $6.00 price objective on shares of Ocugen in a research report on Friday, November 8th. Maxim Group began coverage on Ocugen in a research report on Tuesday, October 15th. They set a “buy” rating and a $4.00 price objective for the company.

Ocugen Trading Up 4.4 %

Shares of OCGN opened at $1.00 on Thursday. Ocugen has a 12-month low of $0.36 and a 12-month high of $2.11. The firm has a market capitalization of $287.86 million, a P/E ratio of -5.26 and a beta of 3.75. The firm has a 50-day moving average price of $1.02 and a 200 day moving average price of $1.35. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09.

Institutional Trading of Ocugen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Management LLC grew its stake in shares of Ocugen by 36.4% in the third quarter. MetLife Investment Management LLC now owns 89,508 shares of the company’s stock valued at $89,000 after buying an additional 23,877 shares in the last quarter. Intech Investment Management LLC acquired a new position in Ocugen in the 3rd quarter valued at about $93,000. GSA Capital Partners LLP purchased a new stake in Ocugen during the third quarter worth about $203,000. NorthCrest Asset Manangement LLC acquired a new stake in shares of Ocugen during the third quarter worth about $90,000. Finally, SG Americas Securities LLC purchased a new position in shares of Ocugen in the third quarter valued at approximately $87,000. Hedge funds and other 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.