Ocugen’s (OCGN) Buy Rating Reiterated at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Ocugen (NASDAQ:OCGN) in a research report report published on Monday,Benzinga reports. The brokerage currently has a $6.00 price target on the stock.

OCGN has been the topic of several other reports. Maxim Group initiated coverage on Ocugen in a research report on Tuesday, October 15th. They set a “buy” rating and a $4.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Ocugen in a report on Monday, November 11th.

Ocugen Trading Down 1.9 %

Shares of NASDAQ:OCGN opened at $0.90 on Monday. The business’s 50-day moving average is $0.99 and its 200 day moving average is $1.33. Ocugen has a 1 year low of $0.36 and a 1 year high of $2.11. The firm has a market capitalization of $262.45 million, a P/E ratio of -5.00 and a beta of 3.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.58 and a quick ratio of 2.58.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OCGN. Xponance Inc. acquired a new position in shares of Ocugen in the second quarter valued at about $25,000. Baader Bank Aktiengesellschaft acquired a new stake in Ocugen during the second quarter worth about $35,000. Victory Capital Management Inc. acquired a new stake in Ocugen during the second quarter worth about $51,000. Daiwa Securities Group Inc. acquired a new stake in Ocugen during the second quarter worth about $67,000. Finally, E Fund Management Co. Ltd. acquired a new stake in Ocugen during the second quarter worth about $75,000. 10.27% of the stock is owned by institutional investors and hedge funds.

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.