Ocugen (NASDAQ:OCGN) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Research analysts at Cantor Fitzgerald started coverage on shares of Ocugen (NASDAQ:OCGNGet Rating) in a research note issued to investors on Thursday, The Fly reports. The brokerage set an “overweight” rating and a $4.50 price target on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 107.37% from the stock’s previous close.

OCGN has been the subject of a number of other reports. Chardan Capital lowered their price target on Ocugen from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Monday, May 9th. Zacks Investment Research cut Ocugen from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 11th. Finally, HC Wainwright decreased their price target on Ocugen from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, February 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.75.

OCGN opened at $2.17 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 17.96 and a quick ratio of 17.96. The stock has a market capitalization of $467.98 million, a price-to-earnings ratio of -6.38 and a beta of 4.60. The business has a 50-day moving average of $2.61 and a two-hundred day moving average of $3.81. Ocugen has a 12 month low of $1.67 and a 12 month high of $17.65.

Ocugen (NASDAQ:OCGNGet Rating) last posted its quarterly earnings results on Friday, May 6th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.14). Equities research analysts anticipate that Ocugen will post -0.3 earnings per share for the current year.

In other news, CEO Shankar Musunuri sold 81,823 shares of the company’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $2.65, for a total transaction of $216,830.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 214,323 shares of company stock valued at $478,056. 3.65% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. State Street Corp raised its position in Ocugen by 108.0% during the first quarter. State Street Corp now owns 29,153,704 shares of the company’s stock valued at $96,207,000 after buying an additional 15,136,085 shares during the period. Vanguard Group Inc. increased its position in Ocugen by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 10,906,557 shares of the company’s stock worth $35,991,000 after purchasing an additional 301,063 shares during the last quarter. JPMorgan Chase & Co. increased its position in Ocugen by 20.9% in the 1st quarter. JPMorgan Chase & Co. now owns 4,015,742 shares of the company’s stock worth $13,251,000 after purchasing an additional 693,786 shares during the last quarter. Geode Capital Management LLC increased its position in Ocugen by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,356,816 shares of the company’s stock worth $24,101,000 after purchasing an additional 173,982 shares during the last quarter. Finally, UBS Group AG increased its position in Ocugen by 158.1% in the 1st quarter. UBS Group AG now owns 2,131,074 shares of the company’s stock worth $7,033,000 after purchasing an additional 1,305,248 shares during the last quarter. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

Ocugen Company Profile (Get Rating)

Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases. 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, such as retinitis pigmentosa and leber congenital amaurosis; OCU410, gene therapy candidate for the treatment of dry age-related macular degeneration (AMD); and OCU200, a novel fusion protein that is in preclinical development stage for the treatment of diabetic macular edema, diabetic retinopathy, and wet AMD.

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