What is HC Wainwright’s Estimate for Ocugen FY2024 Earnings?

Ocugen, Inc. (NASDAQ:OCGN) – HC Wainwright increased their FY2024 earnings per share estimates for Ocugen in a research note issued on Thursday, February 13th. HC Wainwright analyst S. Ramakanth now expects that the company will post earnings of ($0.17) per share for the year, up from their prior estimate of ($0.18). HC Wainwright currently has a “Buy” rating and a $8.00 target price 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 restated a “buy” rating and issued a $6.00 target price on shares of Ocugen in a research note on Thursday.

Ocugen Stock Performance

Shares of OCGN stock opened at $0.72 on Monday. The stock’s fifty day simple moving average is $0.78 and its 200-day simple moving average is $0.97. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.04. Ocugen has a 1-year low of $0.64 and a 1-year high of $2.11. 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

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC grew its stake in Ocugen by 104.3% in the third quarter. Barclays PLC now owns 581,087 shares of the company’s stock valued at $577,000 after purchasing an additional 296,654 shares in the last quarter. State Street Corp lifted its position in shares of Ocugen by 7.1% in 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 last quarter. SG Americas Securities LLC lifted its position in shares of Ocugen by 72.7% in the fourth quarter. SG Americas Securities LLC now owns 152,176 shares of the company’s stock worth $123,000 after buying an additional 64,080 shares during the last quarter. Geode Capital Management LLC lifted its position 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. Finally, Franklin Resources Inc. acquired a new position in shares of Ocugen during the 3rd quarter worth about $142,000. 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.