FY2024 Earnings Forecast for Ocugen Issued By HC Wainwright

Ocugen, Inc. (NASDAQ:OCGN) – Investment analysts at HC Wainwright decreased their FY2024 earnings estimates for Ocugen in a report issued on Monday, November 11th. HC Wainwright analyst S. Ramakanth now expects that the company will earn ($0.18) per share for the year, down from their prior estimate of ($0.17). HC Wainwright currently has a “Buy” rating and a $7.00 price target 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.

A number of other brokerages also recently commented on OCGN. Maxim Group began coverage on shares of Ocugen in a research note on Tuesday, October 15th. They set a “buy” rating and a $4.00 target price for the company. Chardan Capital reaffirmed a “buy” rating and set a $6.00 price objective on shares of Ocugen in a research report on Friday, November 8th.

Ocugen Trading Up 4.4 %

NASDAQ OCGN opened at $1.00 on Thursday. Ocugen has a 52 week low of $0.36 and a 52 week high of $2.11. The firm has a 50 day moving average of $1.02 and a two-hundred day moving average of $1.35. 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 stock has a market capitalization of $287.86 million, a PE ratio of -5.26 and a beta of 3.75.

Institutional Investors Weigh In On Ocugen

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in shares of Ocugen in the 1st quarter valued at about $66,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Ocugen during the first quarter worth approximately $132,000. Tidal Investments LLC acquired a new position in shares of Ocugen in the 1st quarter valued at $108,000. Baader Bank Aktiengesellschaft acquired a new stake in Ocugen during the 2nd quarter worth $35,000. Finally, Bank of New York Mellon Corp grew its position in Ocugen by 2,760.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 751,819 shares of the company’s stock worth $1,165,000 after purchasing an additional 725,536 shares during the last quarter. 10.27% of the stock is owned by hedge funds and other institutional investors.

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.