In a report released today, Robert LeBoyer from Noble Financial reiterated a Buy rating on Ocugen (OCGN – Research Report), with a price target of $8.00. The company’s shares closed yesterday at $2.03.
According to TipRanks, LeBoyer is a 2-star analyst with an average return of -0.5% and a 23.40% success rate. LeBoyer covers the Healthcare sector, focusing on stocks such as Ayala Pharmaceuticals, Onconova Therapeutics, and Tonix Pharma.
Ocugen has an analyst consensus of Strong Buy, with a price target consensus of $6.33, a 211.82% upside from current levels. In a report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $5.00 price target.
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Based on Ocugen’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $19.47 million. In comparison, last year the company had a GAAP net loss of $25.95 million
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OCGN in relation to earlier this year. Last month, Castillo Kirsten, a Director at OCGN sold 42,000.00 shares for a total of $122,220.00.
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Ocugen, Inc. engages in the development and commercialization of therapies for eye diseases. Its pipeline of therapies includes OCU400, OCU410, OCU200, OCU100, and OCU300. The company was founded by Shankar Musunuri and Uday Kompella in 2013 and is headquartered in Malvern, PA.
Read More on OCGN:
- Ocugen, Inc. to Present at Chardan’s 6th Annual Genetic Medicines Conference
- Ocugen (NASDAQ:OCGN) Rises on COVID-19 Vaccine Deal; Street Sees 3.5x Upside
- Ocugen Announces Agreement With Washington University in St. Louis for Commercialization of Intranasal COVID-19 Vaccine in U.S., Europe, and Japan
- Ocugen reaches commercialization agreement for intranasal COVID-19 vaccine
- Ocugen Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
