On March 1, 2023, Chardan Capital upgraded their outlook for Ocugen from Neutral to Buy.
Analyst Price Forecast Suggests 446.07% Upside
As of February 28, 2023, the average one-year price target for Ocugen is $5.44. The forecasts range from a low of $3.54 to a high of $8.40. The average price target represents an increase of 446.07% from its latest reported closing price of $1.00.
The projected annual revenue for Ocugen is $31MM. The projected annual EPS is -$0.40.
What are large shareholders doing?
XBI - SPDR Biotech ETF holds 23,865K shares representing 10.90% ownership of the company. In it's prior filing, the firm reported owning 21,120K shares, representing an increase of 11.50%. The firm decreased its portfolio allocation in OCGN by 29.77% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,504K shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 6,502K shares, representing an increase of 0.03%. The firm decreased its portfolio allocation in OCGN by 18.24% over the last quarter.
IWM - iShares Russell 2000 ETF holds 5,100K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 4,602K shares, representing an increase of 9.75%. The firm decreased its portfolio allocation in OCGN by 26.71% over the last quarter.
Geode Capital Management holds 4,144K shares representing 1.89% ownership of the company. In it's prior filing, the firm reported owning 3,806K shares, representing an increase of 8.15%. The firm decreased its portfolio allocation in OCGN by 26.44% over the last quarter.
Jpmorgan Chase & holds 3,767K shares representing 1.72% ownership of the company. In it's prior filing, the firm reported owning 3,132K shares, representing an increase of 16.85%. The firm decreased its portfolio allocation in OCGN by 19.38% over the last quarter.
What is the Fund Sentiment?
There are 226 funds or institutions reporting positions in Ocugen. This is a decrease of 11 owner(s) or 4.64% in the last quarter. Average portfolio weight of all funds dedicated to OCGN is 0.02%, an increase of 20.69%. Total shares owned by institutions increased in the last three months by 9.49% to 95,429K shares. The put/call ratio of OCGN is 0.21, indicating a bullish outlook.
Ocugen Background Information
(This description is provided by the company.)
Ocugen, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19. Its breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with one drug - "one to many" and its novel biologic product candidate aims to offer better therapy to patients with underserved diseases such as wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy. The Company is co-developing Bharat Biotech's COVAXIN™ vaccine candidate for COVID-19 in the U.S. market.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
