What is HC Wainwright’s Estimate for Ocugen FY2024 Earnings?

Ocugen, Inc. (NASDAQ:OCGN) – Investment analysts at HC Wainwright decreased their FY2024 earnings estimates for Ocugen in a research note issued to investors on Monday, November 11th. HC Wainwright analyst S. Ramakanth now forecasts that the company will earn ($0.18) per share for the year, down from their previous forecast of ($0.17). HC Wainwright has a “Buy” rating and a $7.00 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 ($0.05) EPS and FY2025 earnings at ($0.20) EPS.

Other research analysts have also issued research reports about the company. Maxim Group began coverage on Ocugen in a research report on Tuesday, October 15th. They set a “buy” rating and a $4.00 price target on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $6.00 target price on shares of Ocugen in a report on Friday, November 8th.

Ocugen Stock Down 6.1 %

Ocugen stock opened at $0.94 on Thursday. The company has a market capitalization of $270.19 million, a P/E ratio of -5.08 and a beta of 3.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. Ocugen has a fifty-two week low of $0.36 and a fifty-two week high of $2.11. The stock has a 50-day simple moving average of $1.02 and a 200-day simple moving average of $1.35.

Hedge Funds Weigh In On Ocugen

A number of hedge funds and other institutional investors have recently made changes to their positions in OCGN. Headlands Technologies LLC acquired a new stake in Ocugen during the 1st quarter worth approximately $66,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Ocugen during the first quarter worth $132,000. Tidal Investments LLC purchased a new position in Ocugen in the 1st quarter valued at $108,000. Baader Bank Aktiengesellschaft acquired a new position in Ocugen in the 2nd quarter valued at $35,000. Finally, Bank of New York Mellon Corp increased its stake in Ocugen by 2,760.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 751,819 shares of the company’s stock valued at $1,165,000 after buying an additional 725,536 shares during the period. Hedge funds and other 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.