Currently, Ocugen Inc [OCGN] is trading at $0.79, down -20.28%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The OCGN shares have gain 6.50% over the last week, with a monthly amount glided 45.43%, and seem to be holding up well over a long-time horizon.
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On 22, February 2024, Ocugen, Inc. Announces Dosing Completion of Subjects with Stargardt in Cohort 1 of Phase 1/2 Clinical Trial Evaluating the Safety and Efficacy of OCU410ST. In a post published today on Yahoo Finance, Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines, today announced that dosing is complete in the first cohort of its Phase 1/2 GARDian clinical trial for OCU410ST (AAV5-hRORA)—a modifier gene therapy candidate being developed for Stargardt disease. Stargardt disease is an orphan blindness disease that affects approximately 35,000 people in the United States alone.
From an analyst’s perspective:
Ocugen Inc [NASDAQ: OCGN] stock has seen the most recent analyst activity on March 01, 2023, when Chardan Capital Markets upgraded its rating to a Buy but kept the price target unchanged to $3.50 for it. Previously, Mizuho started tracking the stock with Buy rating on August 23, 2022, and set its price target to $5. Cantor Fitzgerald started tracking the stock assigning a Overweight rating and suggested a price target of $4.50 on June 02, 2022. Noble Capital Markets initiated its recommendation with a Outperform. ROTH Capital downgraded its rating to Neutral for this stock on June 11, 2021, and downed its price target to $6. In a note dated May 07, 2021, Cantor Fitzgerald downgraded an Neutral rating on this stock.
This stock has fluctuated between a low of $0.34 and a high of $1.28 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $5 within the next 12 months. Ocugen Inc [NASDAQ: OCGN] shares were valued at $0.79 at the most recent close of the market. An investor can expect a potential return of 532.91% based on the average OCGN price forecast.
Analyzing the OCGN fundamentals
Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-6.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 0.7046 points at the first support level, and at 0.6148 for the second support level. However, for the 1st resistance point, the stock is sitting at 0.9222, and for the 2nd resistance point, it is at 1.0500.
Ocugen Inc [OCGN] reported earnings per share of -$0.06 for its fiscal quarter that ended on 9/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.07/share, meaning a difference of $0.01 and a surprise factor of 14.30%. By comparison, the stated earnings for the previous quarter ended on 6/29/2023 were -$0.1 per share as compared to estimates of -$0.07 per share, a difference of -$0.03 representing a surprise of -42.90%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Ocugen Inc [NASDAQ:OCGN] is 5.08. As well, the Quick Ratio is 5.08, while the Cash Ratio is 0.05.
Transactions by insiders
Recent insider trading involved Zhang Junge, Director, that happened on Jun 14 when 0.2 million shares were purchased.
