Ocugen (NASDAQ:OCGN) Given New $8.00 Price Target at HC Wainwright

Ocugen (NASDAQ:OCGN) had its price objective raised by investment analysts at HC Wainwright from $7.00 to $8.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Separately, Chardan Capital reiterated a “buy” rating and issued a $6.00 price target on shares of Ocugen in a research note on Thursday, January 23rd.

Ocugen Stock Performance

Shares of OCGN stock opened at $0.66 on Thursday. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.04. The company has a market cap of $192.27 million, a PE ratio of -3.67 and a beta of 3.82. Ocugen has a 12-month low of $0.57 and a 12-month high of $2.11. The business’s fifty day simple moving average is $0.79 and its 200-day simple moving average is $0.98.

Institutional Investors Weigh In On Ocugen

Several institutional investors and hedge funds have recently made changes to their positions in OCGN. The Manufacturers Life Insurance Company acquired a new position in shares of Ocugen in the 2nd quarter valued at $166,000. SG Americas Securities LLC acquired a new position in shares of Ocugen in the third quarter valued at about $87,000. NorthCrest Asset Manangement LLC purchased a new position in shares of Ocugen in the third quarter worth about $90,000. GSA Capital Partners LLP purchased a new stake in Ocugen in the third quarter valued at approximately $203,000. Finally, Intech Investment Management LLC acquired a new position in Ocugen in the 3rd quarter worth approximately $93,000. 10.27% of the stock is currently owned by institutional investors and hedge funds.

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.