FY2024 Earnings Estimate for Ocugen Issued By HC Wainwright

Ocugen, Inc. (NASDAQ:OCGN) – Equities researchers at HC Wainwright dropped their FY2024 EPS estimates for shares of Ocugen in a note issued to investors on Monday, November 11th. HC Wainwright analyst S. Ramakanth now expects that the company will post earnings per share of ($0.18) for the year, down from their prior forecast of ($0.17). HC Wainwright currently has a “Buy” rating and a $7.00 target price on the stock. The consensus estimate for Ocugen’s current full-year earnings is ($0.20) per share. HC Wainwright also issued estimates for Ocugen’s Q4 2024 earnings at ($0.05) EPS and FY2025 earnings at ($0.20) EPS.

Several other brokerages have also issued reports on OCGN. Chardan Capital reiterated a “buy” rating and issued a $6.00 target price on shares of Ocugen in a research report on Friday, November 8th. Maxim Group assumed coverage on shares of Ocugen in a report on Tuesday, October 15th. They issued a “buy” rating and a $4.00 price objective for the company.

Ocugen Stock Down 6.1 %

Shares of OCGN opened at $0.94 on Thursday. The stock’s 50 day moving average is $1.02 and its two-hundred day moving average is $1.35. Ocugen has a 12 month low of $0.36 and a 12 month high of $2.11. The firm has a market cap of $270.19 million, a P/E ratio of -5.08 and a beta of 3.75. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09.

Institutional Trading of Ocugen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OCGN. State Street Corp increased its stake in Ocugen by 7.1% during the 3rd quarter. State Street Corp now owns 15,824,517 shares of the company’s stock worth $15,701,000 after buying an additional 1,047,896 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Ocugen by 2,760.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 751,819 shares of the company’s stock valued at $1,165,000 after purchasing an additional 725,536 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Ocugen during the 3rd quarter worth $456,000. Barclays PLC grew its stake in shares of Ocugen by 104.3% during the third quarter. Barclays PLC now owns 581,087 shares of the company’s stock worth $577,000 after purchasing an additional 296,654 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Ocugen by 3,040.0% in the second quarter. Rhumbline Advisers now owns 301,218 shares of the company’s stock valued at $467,000 after buying an additional 291,625 shares in the last quarter. Hedge funds and other institutional investors own 10.27% of the company’s stock.

About Ocugen

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.