Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. Making the world smarter, happier, and richer. Type a symbol or company name. Ocugen: Peripheral Scandals Taint This Expired COVID-19 'Me-Too' Longshot Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. quotes delayed at least 15 minutes, all others at least 20 minutes. ET on Friday. With $3.2 million in cash vs. current liabilities of $3.3 million, Ocugen likely has enough cash on hand to cover its short-term obligations. The FDA's decision not to issue EUA really wasn't all that surprising, though. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. 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. To make the world smarter, happier, and richer. Ocugen estimates the drug could have as many as 63,000 potential patients. The chances of anything more are small but the rewards could be huge. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. Here are three prudent steps to take. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. More importantly, the 5-star analyst added, COVAXIN also induces comparable levels of neutralizing antibodies to those in human convalescent serum," which, the analyst believes," bodes well for the success of the ongoing Phase 3 trial in India.. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. It has no treatments to offer the market. For now, the biggest near-term hope for Covaxin may be that Canada or another developed economy will buy the vaccine to share with developing nations. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). Hold) without suggesting a price target. But if they do, Ocugen stock at the least looks like an intriguing bet. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. Shares of Ocugen ( OCGN) skyrocketed over 800% in the past three trading sessions after the biopharmaceutical company disclosed it had signed a binding letter of intent (LOI) with India based. Keith Speights for The stock had gained some traction after they announced the. The content is intended to be used for informational purposes only. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. The second is that the balance sheet still needs some help. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. 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. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Not an offer or recommendation by Stocktwits. If you missed that action, you missed all the gains. Thats the thing with these low-priced penny stocks. Stock Price Forecast The 6 analysts offering 12-month price forecasts for Ocugen Inc have a median target of 4.75, with a high estimate of 8.00 and a low estimate of 3.00. Plus500. 1125 N. Charles St, Baltimore, MD 21201. For investors new to the story, there are some positives when it comes to OCGN stock. Copyright On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. Conditions have only become worse since that time. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. Ocugen Inc Stock - OCGN Share Price Today, News and Discussion 0.90% SPY 0.59% QQQ 0.60% TSLA 6.12% SI 60.35% CRM 11.51% RIVN 0.32% ARKK 0.96% RLY.X 56.44% PLUG 6.72% V 0.22% CDIO 13.87% RETA 5.92% More Advertisement 3rd Party Ad. 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. 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. Ocugen Inc Stock - OCGN Share Price Today, News and Discussion - Stocktwits Learn More. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. It has real management. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. 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! Create your Watchlist to save your favorite quotes on Nasdaq.com. Even at around 40 cents per share, I would consider Ocugen stock overvalued. However, I wont be around to find out. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. As of this writing, Matt did not hold a position in any of theaforementioned securities. Instead, this appears destined to join the long list of failed biotech startups. The Motley Fool has no position in any of the stocks mentioned. It took Moderna roughly 10 months from the initiation of the late-stage study for its COVID-19 vaccine to the point where the company filed for full FDA approval. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. Investors need to understand the risk profile here. If You Invested $1,000 In Ocugen Stock One Year Ago, Here's - Insider *Stock Advisor returns as of November 20, 2020. For now, though, what happens in India stays in India. MALVERN, Pa., April 28, 2021 (GLOBE NEWSWIRE) -- Ocugen, Inc. (Nasdaq: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. Sign up below to get this incredible offer! A $30 million market capitalization doesnt mean Ocugen has no chance. Source: Chart courtesy of StockCharts.com. Do Not Sell My Personal Information (CA Residents Only). In this case, shares rallied about four-fold in just a few days. The Motley Fool->. Events - Ocugen Ocugen had to go an unusual route to go public. (See OCGN stock analysis on TipRanks). The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. 7 Travel Stocks to Buy Banking On Pent-Up Demand. It brings in no revenue. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. That pathway will likely require the company to conduct further clinical testing of the vaccine in the U.S. Are there any other near-term catalysts for the biotech stock? Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. Why Ocugen Stock Is Crashing Today By Keith Speights - Mar 4, 2022 at 11:42AM Key Points The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Considering Bharats reputation for world-class R&D and manufacturing capabilities in vaccines and bio-therapeutics, H.C. Wainwright analyst Swayampakula Ramakanth thinks the company is a suitable partner.. In that list, you can even include penny-stock trader. Ocugen - Stock Price History | OCGN | MacroTrends Start trading Options with Saxo today. Ocugen. Keith Speights has no position in any of the stocks mentioned. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. But any success they find will be without me as a shareholder. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. The market capitalization of Relmada Therapeutics (NASDAQ:RLMD) went from under $10 million at the end of 2017 to over $500 million at the moment. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. The broad point here is that, even with a ~$30 million market capitalization (based on updated share count information disclosed in an 8-K filing on Dec. 9), this is a company with a legitimate opportunity. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. There Are So Many Stocks to Buy Ocugen Isn't One of Them That's not going to happen now. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. Sign up below to get this incredible offer! 1125 N. Charles St, Baltimore, MD 21201. 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. How long might it take for Ocugen to win full FDA approval for Covaxin? 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. As of this writing, Vince Martin has no positions in any securities mentioned. The firm's modifier gene therapy platform is engaged in addressing retinal diseases, including retinitis pigmentosa, leber congenital amaurosis, and dry age-related macular degeneration. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. *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. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). Remember, though, that Moderna achieved this while working closely with the U.S. government (including receiving funding from Uncle Sam) and during a period when vaccines weren't widely available. With No Revenue or Approved Treatments, Ocugen Stock Is a - Insider Please check your download folder. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. Its all about choice. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. Matt McCall and the InvestorPlace Research Staff, statistics support having long-term exposure, Click here to see what Matt has up his sleeve now, There Are So Many Stocks to Buy Ocugen Isnt One of Them. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. But the allure of the space is that when a company wins, its shareholders win big. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. 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. Typically, I care little about financials with biotechs. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. However, when that occurred, Ocugen stock lost most of its value. Copyright 2023 InvestorPlace Media, LLC. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Shares of Ocugen (OCGN) skyrocketed over 800% in the past three trading sessions after the biopharmaceutical company disclosed it had signed a binding letter of intent (LOI) with India based Bharat Biotech to co-develop a COVID-19 vaccine for the U.S. market. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. The Motley Fool has a disclosure policy. Copyright This requires no immediate effort on your part. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. Ocugen Inc First Quarter 2022 Financial Results and Recent Business Highlights 04/21/2022 Noble Capital Markets' Eighteenth Annual Investor Conference 03/14/2022 34th Annual ROTH Conference 02/25/2022 Ocugen, Inc. Q4 and Full Year 2021 Financial Results and Recent Business Highlights 01/10/2022 H.C. Wainwright Bioconnect Conference 12/22/2021 Literally, zero. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. These symbols will be available throughout the site during your session. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing.