Ocugen Inc [NASDAQ: OCGN] gained 5.69% on the last trading session, reaching $1.04 price per share at the time. The company report on March 13, 2024 at 8:00 AM that Ocugen, Inc. Announces Dosing Completion of Subjects with Geographic Atrophy in Cohort 1 of Phase 1/2 Clinical Trial Evaluating the Safety and Efficacy of OCU410.
“We are very enthusiastic about the potential of OCU410 as a one-time treatment for life with a single sub-retinal injection,” said Dr. Shankar Musunuri, Chairman, CEO and Co-Founder of Ocugen. “While there are currently two recently approved products for the treatment of GA, both require approximately 6-12 intravitreal injections annually and target only the complement system. OCU410 addresses multiple pathways causing dAMD, including complement, lipid metabolism, inflammation, and oxidative stress.”.
If compared to the average trading volume of 5.75M shares, OCGN reached a trading volume of 5487415 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $6.33 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 1.00. 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.
Chardan Capital Markets have made an estimate for Ocugen Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 01, 2023. While these analysts kept the previous recommendation, Mizuho raised their target price to Buy. The new note on the price target was released on August 23, 2022, representing the official price target for Ocugen Inc stock. Previously, the target price had yet another raise to $8, while ROTH Capital analysts kept a Buy 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 4.57, with the Price to Cash per share for the same quarter was set at 0.21.
Trading performance analysis for OCGN stock
Ocugen Inc [OCGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.54. With this latest performance, OCGN shares gained by 64.04% in over the last four-week period, additionally plugging by 147.62% over the last 6 months – not to mention a rise of 14.35% 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 63.62, with the RSI for the last a single of trading hit 64.44, and the three-weeks RSI is set at 63.36 for Ocugen Inc [OCGN]. The present Moving Average for the last 50 days of trading for this stock 0.7139, while it was recorded at 0.9929 for the last single week of trading, and 0.5200 for the last 200 days.
Ocugen Inc [OCGN]: A deeper dive into fundamental analysis
Ocugen Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.08 and a Current Ratio set at 5.08.
Ocugen Inc [OCGN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Ocugen Inc posted -0.1/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. 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.
An analysis of Institutional ownership at Ocugen Inc [OCGN]
The top three institutional holders of OCGN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in OCGN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in OCGN stock with ownership which is approximately 5.8325%.
