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

Chardan Capital reissued their buy rating on shares of Ocugen (NASDAQ:OCGN) in a research note published on Monday,Benzinga reports. They currently have a $6.00 price target on the stock.

A number of other equities analysts have also recently issued reports on OCGN. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Ocugen in a report on Monday, November 11th. Maxim Group started coverage on Ocugen in a report on Tuesday, October 15th. They issued a “buy” rating and a $4.00 target price for the company.

Ocugen Price Performance

OCGN opened at $0.90 on Monday. The business has a fifty day moving average of $0.99 and a 200 day moving average of $1.33. Ocugen has a 52-week low of $0.36 and a 52-week high of $2.11. 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 cap of $262.45 million, a P/E ratio of -5.00 and a beta of 3.75.

Institutional Investors Weigh In On Ocugen

A number of hedge funds have recently made changes to their positions in OCGN. State Street Corp lifted its stake in shares of Ocugen by 7.1% during the 3rd quarter. State Street Corp now owns 15,824,517 shares of the company’s stock worth $15,701,000 after purchasing an additional 1,047,896 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of 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. Wellington Management Group LLP purchased a new stake in shares of Ocugen during the 3rd quarter worth $456,000. Geode Capital Management LLC lifted its stake in shares of Ocugen by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,278,554 shares of the company’s stock worth $6,231,000 after purchasing an additional 373,555 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Ocugen by 104.3% during the 3rd quarter. Barclays PLC now owns 581,087 shares of the company’s stock worth $577,000 after purchasing an additional 296,654 shares during the last quarter. 10.27% of the stock is currently 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.