Market Analysts see Ocugen Inc. [OCGN] gaining to $5. Time to buy?

Ocugen Inc. [NASDAQ: OCGN] price surged by 2.48 percent to reach at $0.03. The company report on January 9, 2023 that Ocugen Announces Positive Top-Line Data for COVID-19 Vaccine Candidate COVAXIN™ (BBV152) in Phase 2/3 Immuno-bridging and Broadening Study: Both Co-primary Endpoints Met.


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Study met both co-primary endpoints with robust immune responses.

COVAXIN™ was found to be well-tolerated in vaccine-naïve individuals and in individuals previously vaccinated with mRNA vaccines in the United States (U.S.), with no vaccine-related serious adverse events, thrombotic events, or cases of myocarditis or pericarditis.

A sum of 6279882 shares traded at recent session while its average daily volume was at 5.06M shares. Ocugen Inc. shares reached a high of $1.25 and dropped to a low of $1.18 until finishing in the latest session at $1.24.

The one-year OCGN stock forecast points to a potential upside of 76.74. The average equity rating for OCGN stock is currently 2.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $5.33 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 2.20. 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.

Mizuho have made an estimate for Ocugen Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 23, 2022. While these analysts kept the previous recommendation, ROTH Capital raised their target price to Buy. The new note on the price target was released on June 15, 2022, representing the official price target for Ocugen Inc. stock. Previously, the target price had yet another raise to $4.50, while Cantor Fitzgerald analysts kept a Overweight rating on OCGN stock.

The Average True Range (ATR) for Ocugen Inc. is set at 0.10 The Price to Book ratio for the last quarter was 2.82, with the Price to Cash per share for the same quarter was set at 0.48.

OCGN Stock Performance Analysis:

Ocugen Inc. [OCGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.62. With this latest performance, OCGN shares dropped by -6.06% in over the last four-week period, additionally sinking by -48.55% over the last 6 months – not to mention a drop of -65.17% 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 45.32, with the RSI for the last a single of trading hit 46.76, and the three-weeks RSI is set at 44.49 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 1.4116, while it was recorded at 1.2160 for the last single week of trading, and 2.0675 for the last 200 days.

Insight into Ocugen Inc. Fundamentals:

Ocugen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.20 and a Current Ratio set at 7.20.

Ocugen Inc. [OCGN] Insider Position Details

There are presently around $102 million, or 37.90% of OCGN stock, in the hands of institutional investors. The top three institutional holders of OCGN stocks are: STATE STREET CORP with ownership of 26,007,202, which is approximately -15.059% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 13,551,708 shares of the stock with an approximate value of $16.8 million in OCGN stocks shares; and VANGUARD GROUP INC, currently with $14.51 million in OCGN stock with ownership of nearly 2.485% of the company’s market capitalization.

62 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 6,776,402 shares. Additionally, 49 investors decreased positions by around 9,695,579 shares, while 28 investors held positions by with 65,770,558 shares. The mentioned changes placed institutional holdings at 82,242,539 shares, according to the latest SEC report filing. OCGN stock had 19 new institutional investments in for a total of 1,735,520 shares, while 16 institutional investors sold positions of 728,641 shares during the same period.

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