Noble Capital Markets lifts Ocugen Inc. [OCGN] price estimate. Who else is bullish?

Ocugen Inc. [NASDAQ: OCGN] closed the trading session at $7.05 on 08/03/21. The day’s price range saw the stock hit a low of $6.69, while the highest price level was $7.10. The company report on August 4, 2021 that SHAREHOLER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Ocugen, Inc. of Class Action Lawsuit and Upcoming Deadline – OCGN.

Pomerantz LLP announces that a class action lawsuit has been filed against Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN) and certain of its officers. The class action, filed in the United States District Court for the Eastern District of Pennsylvania, and docketed under 21-cv-03182, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Ocugen securities between February 2, 2021, and June 10, 2021, inclusive (the “Class Period”), seeking to recover damages for violations of the federal securities laws under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.

If you are a shareholder who purchased or otherwise acquired Ocugen securities during the Class Period, you have until August 17, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The stocks have a year to date performance of 285.25 percent and weekly performance of 2.17 percent. The stock has been moved at 116.26 percent over the last six months. The stock has performed -3.29 percent around the most recent 30 days and changed -43.65 percent over the most recent 3-months.

If compared to the average trading volume of 43.48M shares, OCGN reached to a volume of 13450605 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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.

Noble Capital Markets have made an estimate for Ocugen Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 26, 2021. While these analysts kept the previous recommendation, ROTH Capital raised their target price from $10 to $6. The new note on the price target was released on June 11, 2021, representing the official price target for Ocugen Inc. stock. On February 09, 2021, analysts increased their price target for OCGN shares from 0.70 to 13.

The Average True Range (ATR) for Ocugen Inc. is set at 0.53, with the Price to Sales ratio for OCGN stock in the period of the last 12 months amounting to 33327.88. The Price to Book ratio for the last quarter was 28.20, with the Price to Cash per share for the same quarter was set at 0.22.

OCGN stock trade performance evaluation

Ocugen Inc. [OCGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.17. With this latest performance, OCGN shares dropped by -3.29% in over the last four-week period, additionally plugging by 116.26% over the last 6 months – not to mention a rise of 1230.69% 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 47.99, with the RSI for the last a single of trading hit 50.17, and the three-weeks RSI is set at 47.41 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 7.56, while it was recorded at 6.90 for the last single week of trading, and 5.64 for the last 200 days.

Ocugen Inc. [OCGN]: An insightful look at the core 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.

Ocugen Inc. [OCGN]: Insider Ownership positions

There are presently around $177 million, or 13.00% 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 $35.49 million in OCGN stocks shares; and BLACKROCK INC., currently with $24.13 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 12,716,251 shares. Additionally, 25 investors decreased positions by around 2,189,797 shares, while 10 investors held positions by with 10,157,289 shares. The mentioned changes placed institutional holdings at 25,063,337 shares, according to the latest SEC report filing. OCGN stock had 49 new institutional investments in for a total of 4,077,624 shares, while 16 institutional investors sold positions of 680,126 shares during the same period.

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