Ocugen Inc. (OCGN): Here Are Some Research Recommendations

Ocugen Inc. (NASDAQ:OCGN) finished Wednesday with an addition of $0.12 to close at $9.23, an upside of 1.32 percent. An average of 35,249,160 shares of common stock have been traded in the last five days. There was a gain of $2.43 in the past week. The last 20 days have seen an average of 17,285,951 shares traded, while the 50-day average volume stands at 15,240,796.

OCGN stock has increased by 22.25% in the last month. The company shares reached their 1-month lowest point of $6.72 on 10/05/21. With the stock rallying to its 52-week high on 02/08/21, shares of the company touched a low of $0.25 and a high of $18.77 in 52 weeks. In spite of this, the price is down -50.83% from the 52-week high.


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Insider Transactions

29 days have passed since Ocugen Inc. (OCGN) last reported insider trading activity. Musunuri Shankar, who is Chief Executive Officer, most recently acquired $125,000 shares at $7.52 per share on Sep 15. In this transaction, the insider spent $940,000. Chief Financial Officer, Subramanian Sanjay, disposed of 30,000 shares at a price of $7.22 on Aug 16. The insider now owns more than $216,600 worth of shares. Prior to that, Director Kompella Uday went on to Sale 10,000 shares at $6.81 each on Jul 30. An amount of $68,072 was transacted.

Valuation Metrics

Ocugen Inc. (OCGN) has a trailing price-to-earnings (P/E) ratio of 34.65 for the broader industry and 32.30 for the sector. The stock’s beta is 4.41. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 43165.73, the price-to-book (PB) ratio at 15.38.

The quick ratio of Ocugen Inc. for the three months ended June 29 was 25.10, and the current ratio was 25.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.01 and a total debt to equity ratio of 0.01 for the quarter ending June 29. Its gross profit as reported stood at $21.33 million compared to revenue of $43000.0.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Ocugen Inc.’s return on assets was -83.70%, compared to -93.5% over the last five years. For the broader industry, ROE averaged -68.79 over the past year.

Earnings Surprise

The analyst consensus anticipated Ocugen Inc.’s latest quarter earnings to come in at -$0.03 per share, but it turned out to be -$0.13, a -333.30% surprise. For the quarter, EBITDA amounted to -$25.56 million. Shareholders own equity worth $198.76 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Ocugen Inc. (OCGN) price momentum. RSI 9-day as of the close on 13 October was 77.44%, suggesting the stock is Overbought, with historical volatility in this time frame at 94.37%.

As of today, OCGN’s price is $8.04 +35.74% or $2.43 from its 5-day moving average. OCGN is currently trading +22.58% higher than its 20-day SMA and +6.58% higher than its 100-day SMA. However, the stock’s current price level is +30.92% above the SMA50 and +310.22% above the SMA200.

The stochastic %K and %D were 83.17% and 61.97%, respectively, and the average true range (ATR) was 0.66. With the 14-day stochastic at 91.27% and the average true range at 0.60, the RSI (14) stands at 69.63%. The stock has reached 1.16 on the 9-day MACD Oscillator while the 14-day reading was at 1.25.

Analyst Ratings

Noble Capital Markets launched coverage on Ocugen Inc. (NASDAQ: OCGN) in its analyst report released on July 26, 2021. The firm assigned the stock a an Outperform rating.The consensus rating for Ocugen Inc. (OCGN) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell OCGN, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.

What is OCGN’s price target for the next 12 months?

Analysts predict a range of price targets between $4.00 and $15.00, with a median target of $8.00. Taking a look at these predictions, the average price target given by analysts for Ocugen Inc. (OCGN) stock is $8.75.

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