HC Wainwright Has Positive Outlook of Ocugen FY2024 Earnings

Ocugen, Inc. (NASDAQ:OCGN) – Equities research analysts at HC Wainwright raised their FY2024 earnings per share estimates for Ocugen in a report released on Thursday, February 13th. HC Wainwright analyst S. Ramakanth now anticipates that the company will earn ($0.17) per share for the year, up from their prior estimate of ($0.18). HC Wainwright has a “Buy” rating and a $8.00 price target on the stock. The consensus estimate for Ocugen’s current full-year earnings is ($0.20) per share. HC Wainwright also issued estimates for Ocugen’s Q4 2024 earnings at ($0.04) EPS, Q1 2025 earnings at ($0.04) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.05) EPS and FY2025 earnings at ($0.18) EPS.

Separately, Chardan Capital reiterated a “buy” rating and set a $6.00 price target on shares of Ocugen in a report on Thursday, February 13th.

Ocugen Trading Up 1.5 %

NASDAQ:OCGN opened at $0.73 on Monday. The stock’s 50 day moving average price is $0.77 and its 200 day moving average price is $0.96. Ocugen has a 52 week low of $0.64 and a 52 week high of $2.11. The company has a market capitalization of $212.37 million, a P/E ratio of -4.05 and a beta of 3.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.58 and a current ratio of 2.58.

Hedge Funds Weigh In On Ocugen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company bought a new stake in shares of Ocugen in the second quarter valued at approximately $166,000. SG Americas Securities LLC bought a new stake in shares of Ocugen in the third quarter valued at approximately $87,000. NorthCrest Asset Manangement LLC bought a new stake in shares of Ocugen in the third quarter valued at approximately $90,000. GSA Capital Partners LLP bought a new stake in shares of Ocugen in the third quarter valued at approximately $203,000. Finally, Intech Investment Management LLC bought 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.

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.