Ocugen (NASDAQ:OCGN – Get Free Report) issued its earnings results on Wednesday. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05), Zacks reports. Ocugen had a negative net margin of 532.51% and a negative return on equity of 154.75%. During the same quarter last year, the firm earned ($0.03) EPS.
Ocugen Stock Performance
NASDAQ OCGN traded up $0.00 during trading hours on Wednesday, reaching $0.59. 658,340 shares of the company were exchanged, compared to its average volume of 4,069,496. Ocugen has a 1 year low of $0.57 and a 1 year high of $2.11. The business’s 50 day simple moving average is $0.74 and its 200-day simple moving average is $0.91. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $172.17 million, a P/E ratio of -3.29 and a beta of 3.82.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Ocugen in a research note on Thursday, February 13th. HC Wainwright raised their price objective on shares of Ocugen from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, February 13th.
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.
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