HC Wainwright reissued their buy rating on shares of Ocugen (NASDAQ:OCGN – Free Report) in a research report report published on Thursday,Benzinga reports. They currently have a $8.00 price target on the stock. HC Wainwright also issued estimates for Ocugen’s FY2029 earnings at $1.15 EPS.
Separately, Chardan Capital reiterated a “buy” rating and issued a $6.00 target price on shares of Ocugen in a report on Thursday, February 13th.
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Ocugen Stock Down 3.2 %
Ocugen (NASDAQ:OCGN – Get Free Report) last released its earnings results on Wednesday, March 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $0.76 million for the quarter, compared to analyst estimates of $0.30 million. Ocugen had a negative net margin of 532.51% and a negative return on equity of 154.75%. During the same period in the prior year, the business earned ($0.03) EPS. Analysts forecast that Ocugen will post -0.2 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of 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 purchasing an additional 1,047,896 shares in the last quarter. Geode Capital Management LLC increased its holdings in Ocugen by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 6,588,407 shares of the company’s stock valued at $5,305,000 after buying an additional 309,853 shares during the last quarter. Northern Trust Corp raised its stake in Ocugen by 10.4% in the fourth quarter. Northern Trust Corp now owns 2,407,137 shares of the company’s stock valued at $1,938,000 after buying an additional 227,150 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Ocugen during the 4th quarter worth about $1,681,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Ocugen by 12.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 860,244 shares of the company’s stock worth $692,000 after acquiring an additional 93,288 shares in the last quarter. Institutional investors and hedge funds 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.
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