Ocugen (NASDAQ:OCGN) Given New $5.00 Price Target at Chardan Capital

Ocugen (NASDAQ:OCGN) had its price objective increased by stock analysts at Chardan Capital from $4.00 to $5.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Chardan Capital’s price objective indicates a potential upside of 278.79% from the stock’s previous close.

Separately, HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Ocugen in a research report on Wednesday, April 3rd.

Ocugen Price Performance

OCGN opened at $1.32 on Monday. The business’s fifty day moving average is $1.23 and its two-hundred day moving average is $0.73. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.51 and a current ratio of 2.51. The company has a market cap of $339.68 million, a price-to-earnings ratio of -4.89 and a beta of 3.51. Ocugen has a one year low of $0.35 and a one year high of $2.11.

Institutional Trading of Ocugen

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its position in shares of Ocugen by 5.0% in the second quarter. State Street Corp now owns 30,617,946 shares of the company’s stock valued at $69,503,000 after acquiring an additional 1,464,242 shares in the last quarter. BlackRock Inc. lifted its position in shares of Ocugen by 0.3% in the first quarter. BlackRock Inc. now owns 15,111,920 shares of the company’s stock valued at $12,892,000 after acquiring an additional 50,559 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Ocugen by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 12,039,918 shares of the company’s stock valued at $6,923,000 after acquiring an additional 114,366 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Ocugen by 12.5% in the first quarter. Geode Capital Management LLC now owns 4,661,333 shares of the company’s stock valued at $3,977,000 after acquiring an additional 517,806 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Ocugen by 20.9% in the first quarter. JPMorgan Chase & Co. now owns 4,015,742 shares of the company’s stock valued at $13,251,000 after acquiring an additional 693,786 shares in the last quarter. 10.27% of the stock is currently owned by hedge funds and other institutional investors.

About Ocugen

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 and OCU410ST 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.