Ocugen, Inc. (NASDAQ:OCGN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Ocugen, Inc. (NASDAQ:OCGN) have received a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $9.50.

A number of equities analysts have commented on OCGN shares. Canaccord Genuity Group reduced their target price on shares of Ocugen from $12.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Wall Street Zen cut shares of Ocugen from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Weiss Ratings raised shares of Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th.

Ocugen News Roundup

Here are the key news stories impacting Ocugen this week:

• Positive Sentiment: An analyst maintains a bullish view, assigning Ocugen a Buy rating based on progress in its OCU400, OCU410ST and OCU410 gene-therapy programs. Upcoming pivotal-trial catalysts, including OCU410ST Stargardt disease data, could provide a significant boost if results are favorable. Ocugen: Q3 Data Catalyst In Stargardt Disease Feels Critical
• Neutral Sentiment: Ocugen’s FDA-cleared Phase 3 pathway for OCU410 and planned 2027 Phase 3 data represent potentially important milestones, but the programs still carry substantial clinical, commercialization and execution risk. Another analysis retained a Hold rating while acknowledging the OCU410ST advancement and upcoming catalysts. Ocugen: My Hold Rating Continued On OCU410ST Advancement And Upcoming Catalysts
• Negative Sentiment: CEO Shankar Musunuri sold a combined 525,991 shares at an average price of $1.12, reducing his reported ownership in two transactions. The sales were executed under a pre-arranged Rule 10b5-1 plan, which lessens the signal that they reflect a change in management’s outlook, but the sizable transactions may nevertheless weigh on sentiment. SEC insider-trading filing
• Negative Sentiment: HC Wainwright lowered its EPS forecasts for both FY2029 and FY2030, cutting the estimates to $0.06 from $0.14 and to $0.98 from $1.08, respectively. The revisions suggest a less favorable earnings outlook despite expectations that Ocugen remains unprofitable in the current fiscal year.
• Negative Sentiment: Investors are still processing disappointing interim clinical-trial data, which has limited enthusiasm for the pipeline and added risk ahead of future readouts. The stock is trading near its one-year low and below its 50-day and 200-day moving averages.

Ocugen Stock Down 0.5%

Ocugen stock opened at $1.02 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 4.17. The firm has a market cap of $345.89 million, a P/E ratio of -3.92 and a beta of 2.20. The business has a fifty day moving average of $1.33 and a two-hundred day moving average of $1.53. Ocugen has a twelve month low of $1.01 and a twelve month high of $2.73.

Ocugen (NASDAQ:OCGN) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The company had revenue of $1.49 million during the quarter, compared to analysts’ expectations of $0.89 million. On average, analysts forecast that Ocugen will post -0.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ocugen news, CEO Shankar Musunuri sold 57,264 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $1.12, for a total value of $64,135.68. Following the completion of the sale, the chief executive officer directly owned 1,088,035 shares in the company, valued at $1,218,599.20. This trade represents a 5.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Treerita Johnson-Greene purchased 21,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was purchased at an average cost of $1.23 per share, for a total transaction of $25,830.00. Following the completion of the acquisition, the chief financial officer directly owned 521,000 shares of the company’s stock, valued at approximately $640,830. The trade was a 4.20% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.95% of the company’s stock.

Institutional Investors Weigh In On Ocugen

Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Ocugen during the second quarter worth $41,314,000. Vanguard Group Inc. increased its position in shares of Ocugen by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 15,223,585 shares of the company’s stock valued at $24,814,000 after acquiring an additional 450,904 shares during the period. Millennium Management LLC increased its position in shares of Ocugen by 29.7% in the 4th quarter. Millennium Management LLC now owns 5,396,417 shares of the company’s stock valued at $7,285,000 after acquiring an additional 1,234,268 shares during the period. UBS Group AG raised its stake in Ocugen by 373.2% in the 4th quarter. UBS Group AG now owns 4,849,353 shares of the company’s stock worth $6,547,000 after acquiring an additional 3,824,474 shares during the last quarter. Finally, State Street Corp lifted its position in Ocugen by 193.6% during the 4th quarter. State Street Corp now owns 3,978,738 shares of the company’s stock worth $5,371,000 after acquiring an additional 2,623,361 shares during the period. Hedge funds and other institutional investors own 10.27% of the company’s stock.

Ocugen Company Profile

Ocugen Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing gene therapies to treat rare inherited retinal diseases, as well as vaccines designed to address unmet needs in infectious diseases. Headquartered in Malvern, Pennsylvania, the company applies its proprietary gene therapy platform to create novel treatments aimed at preserving and restoring vision, while leveraging strategic partnerships to broaden its vaccine pipeline.

In its gene therapy portfolio, Ocugen is advancing multiple programs targeting retinal disorders.