Market Analysts see Ocugen Inc. [OCGN] falling to $6. Time to buy?

Ocugen Inc. [NASDAQ: OCGN] traded at a high on 06/23/21, posting a 2.02 gain after which it closed the day’ session at $7.56. The company report on June 24, 2021 that Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against ChemoCentryx, AcelRx, Ocugen, and Tarena and Encourages Investors to Contact the Firm.

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Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of ChemoCentryx, Inc. (NASDAQ: CCXI), AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX), Ocugen, Inc. (NASDAQ: OCGN), and Tarena International, Inc. (NASDAQ: TEDU). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

ChemoCentryx, Inc. (NASDAQ: CCXI).

The results of the trading session contributed to over 26633103 shares changing hands. Over the past one week, the price volatility of Ocugen Inc. stands at 9.53% while the volatility over the past one month is 11.87%.

The market cap for OCGN stock reached $1.49 billion, with 186.30 million shares outstanding and 182.53 million shares in the current float. Compared to the average trading volume of 66.62M shares, OCGN reached a trading volume of 26633103 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Ocugen Inc. [OCGN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OCGN shares is $5.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OCGN stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

ROTH Capital have made an estimate for Ocugen Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 11, 2021. The new note on the price target was released on May 07, 2021, representing the official price target for Ocugen Inc. stock. Previously, the target price had yet another raise from $0.70 to $13, while Chardan Capital Markets kept a Neutral rating on OCGN stock.

The Average True Range (ATR) for Ocugen Inc. is set at 0.89, with the Price to Sales ratio for OCGN stock in the period of the last 12 months amounting to 35000.92. The Price to Book ratio for the last quarter was 30.24, with the Price to Cash per share for the same quarter was set at 0.23.

How has OCGN stock performed recently?

Ocugen Inc. [OCGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.13. With this latest performance, OCGN shares dropped by -5.03% in over the last four-week period, additionally plugging by 2471.43% over the last 6 months – not to mention a rise of 2874.04% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OCGN stock in for the last two-week period is set at 47.30, with the RSI for the last a single of trading hit 49.63, and the three-weeks RSI is set at 47.42 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 8.72, while it was recorded at 7.10 for the last single week of trading, and 4.66 for the last 200 days.

Ocugen Inc. [OCGN]: Deeper insight into the fundamentals

Ocugen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.00 and a Current Ratio set at 12.00.

Earnings analysis for Ocugen Inc. [OCGN]

With the latest financial reports released by the company, Ocugen Inc. posted -0.19/share EPS, while the average EPS was predicted by analysts to be reported at -0.03/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -533.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OCGN.

Insider trade positions for Ocugen Inc. [OCGN]

There are presently around $187 million, or 12.50% of OCGN stock, in the hands of institutional investors. The top three institutional holders of OCGN stocks are: VANGUARD GROUP INC with ownership of 8,104,527, which is approximately -10.694% of the company’s market cap and around 0.50% of the total institutional ownership; STATE STREET CORP, holding 5,033,935 shares of the stock with an approximate value of $38.06 million in OCGN stocks shares; and BLACKROCK INC., currently with $25.87 million in OCGN stock with ownership of nearly 53.772% of the company’s market capitalization.

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64 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 12,213,926 shares. Additionally, 24 investors decreased positions by around 2,254,275 shares, while 3 investors held positions by with 10,222,149 shares. The mentioned changes placed institutional holdings at 24,690,350 shares, according to the latest SEC report filing. OCGN stock had 49 new institutional investments in for a total of 3,598,843 shares, while 12 institutional investors sold positions of 522,730 shares during the same period.

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