HC Wainwright Has Positive Outlook of Ocugen FY2024 Earnings

Ocugen, Inc. (NASDAQ:OCGN) – Investment analysts at HC Wainwright boosted their FY2024 earnings estimates for shares of Ocugen in a research report issued to clients and investors on Thursday, February 13th. HC Wainwright analyst S. Ramakanth now forecasts that the company will post earnings of ($0.17) per share for the year, up from their previous forecast of ($0.18). HC Wainwright has a “Buy” rating and a $8.00 price objective 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 reissued a “buy” rating and issued a $6.00 price target on shares of Ocugen in a report on Thursday, February 13th.

Ocugen Trading Up 1.5 %

Shares of Ocugen stock opened at $0.73 on Monday. The firm has a market capitalization of $212.37 million, a PE ratio of -4.05 and a beta of 3.82. 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 company’s fifty day moving average price is $0.77 and its two-hundred day moving average price is $0.96. Ocugen has a 52-week low of $0.64 and a 52-week high of $2.11.

Institutional Investors Weigh In On Ocugen

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Ocugen by 7.1% in the 3rd quarter. State Street Corp now owns 15,824,517 shares of the company’s stock valued at $15,701,000 after purchasing an additional 1,047,896 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Ocugen by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 6,588,407 shares of the company’s stock valued at $5,305,000 after purchasing an additional 309,853 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Ocugen by 10.4% in the 4th quarter. Northern Trust Corp now owns 2,407,137 shares of the company’s stock valued at $1,938,000 after purchasing an additional 227,150 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Ocugen in the 4th quarter valued at $1,681,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Ocugen by 12.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 860,244 shares of the company’s stock valued at $692,000 after purchasing an additional 93,288 shares in the last quarter. 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.