Ocugen (NASDAQ:OCGN) Now Covered by Maxim Group

Equities research analysts at Maxim Group assumed coverage on shares of Ocugen (NASDAQ:OCGN) in a report released on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $4.00 price target on the stock. Maxim Group’s price target would indicate a potential upside of 325.94% from the company’s current price.

Ocugen Stock Down 0.8 %

OCGN stock opened at $0.94 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $241.68 million, a PE ratio of -3.76 and a beta of 3.70. Ocugen has a twelve month low of $0.35 and a twelve month high of $2.11. The stock has a 50-day simple moving average of $1.14 and a two-hundred day simple moving average of $1.42.

Ocugen (NASDAQ:OCGN) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The business had revenue of $1.14 million for the quarter. During the same period last year, the firm earned ($0.10) earnings per share. On average, equities analysts predict that Ocugen will post -0.2 EPS for the current fiscal year.

Institutional Trading of Ocugen

A number of hedge funds have recently bought and sold shares of the company. Xponance Inc. bought a new stake in Ocugen in the 2nd quarter worth approximately $25,000. David J Yvars Group bought a new stake in Ocugen in the 1st quarter worth approximately $35,000. Baader Bank Aktiengesellschaft bought a new stake in Ocugen in the second quarter valued at approximately $35,000. Victory Capital Management Inc. bought a new stake in Ocugen in the second quarter valued at approximately $51,000. Finally, Headlands Technologies LLC bought a new stake in Ocugen in the first quarter valued at approximately $66,000. Institutional investors own 10.27% of the company’s stock.

Ocugen Company Profile

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.