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

Ocugen (NASDAQ:OCGN)‘s stock had its “buy” rating reissued by Chardan Capital in a note issued to investors on Monday,Benzinga reports. They presently have a $6.00 price objective on the stock.

A number of other equities analysts have also weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Ocugen in a research note on Monday, November 11th. Maxim Group initiated coverage on shares of Ocugen in a research note on Tuesday, October 15th. They issued a “buy” rating and a $4.00 target price for the company.

Ocugen Price Performance

Shares of NASDAQ OCGN opened at $0.87 on Monday. The firm has a market cap of $254.50 million, a PE ratio of -5.06 and a beta of 3.75. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.04. Ocugen has a 1-year low of $0.36 and a 1-year high of $2.11. The company has a fifty day moving average price of $1.01 and a 200 day moving average price of $1.34.

Hedge Funds Weigh In On Ocugen

A number of large investors have recently modified their holdings of the business. Barclays PLC boosted 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 buying an additional 296,654 shares during the last quarter. Geode Capital Management LLC boosted 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 buying an additional 373,555 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Ocugen during the 3rd quarter worth about $233,000. Wellington Management Group LLP acquired a new position in shares of Ocugen during the 3rd quarter worth about $456,000. Finally, State Street Corp boosted 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 buying an additional 1,047,896 shares during the last quarter. 10.27% of the stock is currently owned by institutional investors and hedge funds.

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.