What is HC Wainwright’s Estimate for Ocugen FY2028 Earnings?

by · The Cerbat Gem

Ocugen, Inc. (NASDAQ:OCGN – Free Report) – Analysts at HC Wainwright dropped their FY2028 earnings per share estimates for shares of Ocugen in a research note issued to investors on Thursday, September 10th. HC Wainwright analyst S. Ramakanth now expects that the company will post earnings per share of ($0.43) for the year, down from their prior forecast of ($0.41). The consensus estimate for Ocugen’s current full-year earnings is ($0.25) per share.

Ocugen (NASDAQ:OCGN – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The business had revenue of $1.49 million during the quarter, compared to analysts’ expectations of $0.89 million.

A number of other research firms have also commented on OCGN. Canaccord Genuity Group decreased their price objective on shares of Ocugen from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Wall Street Zen downgraded shares of Ocugen from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings upgraded Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Ocugen presently has an average rating of “Moderate Buy” and an average target price of $9.50.

Read Our Latest Stock Analysis on OCGN

Ocugen Stock Performance

Ocugen stock opened at $1.06 on Monday. Ocugen has a fifty-two week low of $1.00 and a fifty-two week high of $2.73. The firm’s 50 day simple moving average is $1.32 and its 200-day simple moving average is $1.53. The company has a debt-to-equity ratio of 4.17, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $359.46 million, a P/E ratio of -4.08 and a beta of 2.20.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Diversify Advisory Services LLC acquired a new stake in shares of Ocugen during the 2nd quarter valued at $25,000. GTS Securities LLC acquired a new position in shares of Ocugen in the second quarter worth $27,000. Engineers Gate Manager LP increased its stake in shares of Ocugen by 70.2% in the second quarter. Engineers Gate Manager LP now owns 18,368 shares of the company’s stock worth $28,000 after acquiring an additional 7,577 shares during the last quarter. CTC Alternative Strategies Ltd. purchased a new stake in shares of Ocugen during the first quarter worth $34,000. Finally, Legal & General Group Plc purchased a new stake in shares of Ocugen during the second quarter worth $51,000. Institutional investors and hedge funds own 10.27% of the company’s stock.

Insider Activity

In related news, CEO Shankar Musunuri sold 57,264 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $1.12, for a total transaction of $64,135.68. Following the completion of the sale, the chief executive officer directly owned 1,088,035 shares in the company, valued at approximately $1,218,599.20. This trade represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.95% of the stock is owned by company insiders.

About Ocugen

(Get Free Report)

Ocugen, Inc (NASDAQ: OCGN) is a biotechnology company focused on developing gene and cell therapies for blindness diseases and other serious medical conditions. The company’s ophthalmology pipeline includes modifier gene therapies designed to address inherited retinal diseases, including retinitis pigmentosa and geographic atrophy associated with dry age-related macular degeneration.

Ocugen’s leading candidates include OCU400, an investigational gene therapy for certain inherited retinal diseases, and OCU410 and OCU410ST, investigational therapies being developed for geographic atrophy and Stargardt disease, respectively.

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