Ocugen (NASDAQ:OCGN) Receives Buy Rating from Chardan Capital

Chardan Capital reissued their buy rating on shares of Ocugen (NASDAQ:OCGN) in a report released on Thursday,Benzinga reports. Chardan Capital currently has a $6.00 price target on the stock.

Other equities analysts also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Ocugen in a report on Monday, January 13th. Maxim Group started coverage on shares of Ocugen in a research note on Tuesday, October 15th. They issued a “buy” rating and a $4.00 price target on the stock.

Ocugen Trading Up 3.1 %

Shares of OCGN stock opened at $0.78 on Thursday. Ocugen has a 1-year low of $0.50 and a 1-year high of $2.11. The company has a market cap of $227.20 million, a price-to-earnings ratio of -4.33 and a beta of 3.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.58 and a quick ratio of 2.58. The stock has a 50 day simple moving average of $0.84 and a 200-day simple moving average of $1.09.

Institutional Investors Weigh In On Ocugen

Several institutional investors and hedge funds have recently added to or reduced their stakes in OCGN. Xponance Inc. purchased a new position in shares of Ocugen in the second quarter worth about $25,000. SG Americas Securities LLC acquired a new stake in Ocugen in the 3rd quarter valued at about $87,000. MetLife Investment Management LLC lifted its stake in Ocugen by 36.4% in the 3rd quarter. MetLife Investment Management LLC now owns 89,508 shares of the company’s stock worth $89,000 after purchasing an additional 23,877 shares in the last quarter. NorthCrest Asset Manangement LLC acquired a new position in shares of Ocugen during the 3rd quarter worth approximately $90,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Ocugen in the third quarter valued at approximately $93,000. Institutional investors and hedge funds 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.