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

Chardan Capital reiterated their buy rating on shares of Ocugen (NASDAQ:OCGN) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $6.00 price target on the stock.

Separately, HC Wainwright lifted their price target on shares of Ocugen from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday.

Ocugen Price Performance

Shares of Ocugen stock opened at $0.70 on Thursday. 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 capitalization of $204.71 million, a price-to-earnings ratio of -3.90 and a beta of 3.82. Ocugen has a twelve month low of $0.61 and a twelve month high of $2.11. The company has a 50-day simple moving average of $0.78 and a two-hundred day simple moving average of $0.98.

Institutional Investors Weigh In On Ocugen

Institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd increased its holdings in Ocugen by 8.5% in the 4th quarter. XTX Topco Ltd now owns 254,995 shares of the company’s stock valued at $205,000 after buying an additional 19,894 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Ocugen during the 4th quarter worth approximately $1,681,000. Invesco Ltd. raised its position in Ocugen by 39.0% during the fourth quarter. Invesco Ltd. now owns 173,553 shares of the company’s stock valued at $140,000 after purchasing an additional 48,679 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Ocugen by 63.3% during the fourth quarter. Wells Fargo & Company MN now owns 141,773 shares of the company’s stock worth $114,000 after purchasing an additional 54,935 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Ocugen by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 6,588,407 shares of the company’s stock worth $5,305,000 after purchasing an additional 309,853 shares during the last quarter. Institutional investors 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.