Ocugen (OCGN) to Release Quarterly Earnings on Friday

Ocugen (NASDAQ:OCGNGet Rating) is set to announce its earnings results before the market opens on Friday, August 5th. Analysts expect the company to announce earnings of ($0.08) per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Ocugen (NASDAQ:OCGNGet Rating) last released its quarterly earnings data on Friday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.14). On average, analysts expect Ocugen to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Ocugen Stock Performance

OCGN opened at $2.70 on Thursday. Ocugen has a 12-month low of $1.67 and a 12-month high of $17.65. The stock has a market cap of $582.29 million, a price-to-earnings ratio of -7.94 and a beta of 4.24. The business has a 50 day moving average of $2.44 and a 200-day moving average of $2.82. The company has a quick ratio of 17.96, a current ratio of 17.96 and a debt-to-equity ratio of 0.01.

Insiders Place Their Bets

In other Ocugen news, CEO Shankar Musunuri sold 150,000 shares of the firm’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $2.72, for a total transaction of $408,000.00. Following the transaction, the chief executive officer now owns 752,540 shares in the company, valued at approximately $2,046,908.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 282,500 shares of company stock worth $667,275 in the last 90 days. Company insiders own 2.81% of the company’s stock.

Hedge Funds Weigh In On Ocugen

A number of hedge funds have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC bought a new position in shares of Ocugen in the 1st quarter valued at $33,000. Mackenzie Financial Corp bought a new position in shares of Ocugen in the 1st quarter valued at $34,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Ocugen in the 1st quarter valued at $47,000. Cetera Investment Advisers bought a new position in shares of Ocugen in the 1st quarter valued at $50,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Ocugen by 344.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 980,928 shares of the company’s stock valued at $3,238,000 after purchasing an additional 760,306 shares during the last quarter. Institutional investors own 39.70% of the company’s stock.

Wall Street Analysts Forecast Growth

OCGN has been the subject of several research reports. Cantor Fitzgerald initiated coverage on Ocugen in a report on Thursday, June 2nd. They set an “overweight” rating and a $4.50 price target for the company. Chardan Capital dropped 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. Finally, Roth Capital reissued a “buy” rating and set a $8.00 price target on shares of Ocugen in a report on Wednesday, June 15th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.80.

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.

Read More

Earnings History for Ocugen (NASDAQ:OCGN)

Want More Great Investing Ideas?

Receive News & Ratings for Ocugen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocugen and related companies with MarketBeat.com's FREE daily email newsletter.