However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. You canfollow Will on Twitterat @HealyWriting. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Copyright Investing is always a game of balancing risk and reward. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. Create your Watchlist to save your favorite quotes on Nasdaq.com. Invest better with The Motley Fool. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. Here are three prudent steps to take. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. Source: Chart courtesy of StockCharts.com. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. In this case, shares rallied about four-fold in just a few days. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. The next key catalyst for the biotech stock could be the announcement of the details of the plan to win EUA for Covaxin in the U.S. market. OCGN | Ocugen Inc. Stock Price & News - WSJ Ocugen Inc. OCGN (U.S.: Nasdaq) REAL TIME 12:30 PM EST 02/21/23 $0.9819USD -0.0981 -9.08% Volume 3,761,699 65 Day Avg Vol 5,026,332 1 Day Range. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. These symbols will be available throughout the site during your session. Literally, zero. First, the balance sheet is in at least decent shape. Accordingly, the analyst rates OCGN a Neutral (i.e. (To watch Ramakanths track record, click here), In contrast, all 3 other analysts who have recently posted an Ocugen review rate the stock a Buy. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. The statistics support having long-term exposure to this asset class. The Motley Fool->. CanSinoBio will receive some of the profits, but Ocugen still would skyrocket with FDA approval and ensuing revenue and there are more products in the pipeline. Do Not Sell My Personal Information (CA Residents Only). The median estimate. But theres a big difference in having an edge flipping sub-$5 stocks vs. combing over this group as an investor looking for sound fundamentals and a mistakenly low stock price. The stock had gained some traction after they announced the Ocugen merger in April. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. Biotech companies have emerged from similar levels to become huge winners, as evidenced simply by looking at some of the best biotech stocks for 2019. All rights reserved. 2023 InvestorPlace Media, LLC. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. Even though Ocugen did raise $25 million in a private placement, the story behind OCU300 clearly was not enough to support an initial public offering on its own. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. quotes delayed at least 15 minutes, all others at least 20 minutes. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. I will concede this: The one great thing about the stock market is there is a style for everyone. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. So far, that merger hasnt worked out for Histogenics former shareholders. The stock had gained some traction after they announced the. It means that institutional investors focused on the sector largely have passed on the pipeline. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. But just because a company does not have crippling debt doesnt mean its a buy. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. Thats not a new problem: a previous Phase 1/2 study, according to the prospectus, was discontinued early due to slow enrollment. The company noted that additional trials may be required as well. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. This can prove to be a costly lesson to learn. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. However, sometimes the optimism isn't justified. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. The $25 million private placement executed before the merger brought in much-needed cash. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. For now, though, what happens in India stays in India. Concerns about the delta variant, the potential need for annual booster shots and the possibility of expanding the vaccines to children have investors hopeful that Covaxin will still eventually be a huge payoff for Ocugen. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. In December, Ocugen stated that it had put together an advisory board of "leading academic and industry experts to evaluate the clinical and regulatory path to approval in the U.S. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Type a symbol or company name. Admittedly one could argue that it could have been bought for a quarter and sold for 75 cents, but hindsight is 20/20 in all of these names. When the market crashed during the U.S. pandemic outbreak in March, shares of vaccine makers understandably soared as work began on developing vaccines to fight COVID-19. This decision. The average Ocugen stock price for the last 52 weeks is 2.10. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. MALVERN, Pa., May 29, 2018 /PRNewswire/ -- Ocugen, Inc., a rapidly growing ophthalmology company developing a rich clinical pipeline of innovative therapies that address rare and underserved ocular diseases, today announced that it will present at the 2018 BIO International Convention, taking place June 4-7, 2018, in Boston. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. Ocugen announced in late Decemberit had signed a letter of intent to co-develop COVID-19 vaccine candidate Covaxin along with Indian pharmaceutical company Bharat Biotech. At the time, Ocugen was left for dead. The newly renamed Ocugen stock kept declining through year-end, but has managed to stage a bit of a rally in 2020, gaining 15% year-to-date. Ocugen stated in a press release that it plans to "continue working with the FDA to evaluate the regulatory pathway for the pediatric use of Covaxin." Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The Motley Fool has a disclosure policy. Start trading Options with Saxo today. Its certainly possible the deal will fall through, leaving Ocugen with just the $15.8 million in cash with which it closed the third quarter, according to its 10-Q. Companies will inevitably be optimistic about their prospects for success (at least publicly). Unfortunately for investors, the U.S. FDA did not grant Covaxin an Emergency Use Authorization and instead recommended in June that Ocugen opt for a Biologic License Application that will likely require additional Phase 3 testing. It brings in no revenue. Ocugen In 2021, Beyond: Optimism about Covaxin coupled with massive short squeezes in a handful of popular social media stocks sent Ocugen shares skyrocketing up to as high as $18.77 in February 2021. The steep decline came after the company announced that the U.S. Food and Drug Administration (FDA) won't grant Emergency Use Authorization (EUA) for COVID-19 vaccine Covaxin in children ages two to 18. *Average returns of all recommendations since inception. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. Type a symbol or company name. The Motley Fool->. But there is no question some big-name stocks performed better than others along the way. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Objective investors could have clearly seen then that there actually were significant reasons to be concerned. The Motley Fool has a disclosure policy. But the allure of the space is that when a company wins, its shareholders win big. But realizing value in practice usually is a difficult endeavor. It has real products. Nasdaq That doesnt mean success is guaranteed. 1125 N. Charles St, Baltimore, MD 21201. If Ocugen goes up, you can still profit. So, what goes wrong? Theres even room for more lines. *ALL INFO ABOUT THE BIKE AND GEAR USED DOWN BELOW**If not listed it's left stock*BIKE: 2018, BMW R NINET SCRAMBLER.EXHAUST: Akrapovic Headers, Uni. Axsome Therapeutics (NASDAQ:AXSM) had an equity value below $75 million in March 2017; its now worth over $3 billion after rising over 1,000% last year. The Ocugen deal is a way to salvage some limited value. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. Its certainly possible. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. Even before that point, the most promising candidates generally can find funding. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Without NeoCart, that burn likely comes down. It is very important to do your own analysis before making any investment. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. The Motley Fool recommends Moderna Inc. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off. Our 3 Top Picks. The Motley Fool has no position in any of the stocks mentioned. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Cost basis and return based on previous market day close. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. OCU300 already has received an orphan drug designation from the U.S. Food & Drug Administration for oGVHD; there is no currently approved treatment in the U.S. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. David and Tom just revealed what they believe are the ten best stocks for investors to buy right now and Ocugen, Inc. wasn't one of them! This requires no immediate effort on your part. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. Plus500. Custom BMW. A $30 million market capitalization doesnt mean Ocugen has no chance. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Theres an opportunity here. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. David and Tom just revealed what they believe are the ten best stocks for investors to buy right now and Ocugen, Inc. wasn't one of them! Those lessons will vary between different investors, but I'll point out a major one to keep in mind. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. Ramakanth believes the broad immunity targeting different components of the virus could potentially provide better protection against emerging mutant viruses, such as the one currently circulating in the UK. With this in mind, in the Phase 1 study, COVAXIN has shown robust antibody responses against spike (S1) protein, receptor-binding domain (RBD) and the nucleocapsid (N) protein of SARS-CoV-2. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Under the terms of the agreement, Ocugen is entitled to 45% of the profits from the commercialization of Covaxin in the U.S. and Canada. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. If they invent a miracle treatment for a condition, the money will find its way to the stock. That's not going to happen now. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. The Motley Fool has no position in any of the stocks mentioned. If OCU300 is approved, theres a reasonably large market. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. It has no treatments to offer the market. Bharat Biotech has a history of successful vaccine commercialization in South Asia. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. If you missed that action, you missed all the gains. While anything is possible, I would not anticipate a miracle here. Ocugen sold $25 million of stock in a private placement before the merger. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. Theres even room for more lines. Type a symbol or company name. Long-term debt of $1.6 million is not a back-breaker either. 86% of retail CFD accounts lose money, Benzinga's Top Ratings Upgrades, Downgrades For March 1, 2023, Ocugen upgraded at Chardan citing attractive entry point ahead of catalysts, Analysts Are Bullish on These Healthcare Stocks: Theratechnologies (THTX), Ocugen (OCGN), Ocugen (OCGN) Gets a Buy from H.C. Wainwright, Mizuho Securities Sticks to Their Buy Rating for Ocugen (OCGN), Ocugen (OCGN) Q4 2022 Earnings Call Transcript, Why Catalyst Biosciences Shares Are Trading Higher By 105%; Here Are 20 Stocks Moving Premarket, Registration on or use of this site constitutes acceptance of our.