However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Copy and paste multiple symbols separated by spaces. It means that raising capital will be more difficult going forward. Keith Speights has no position in any of the stocks mentioned. 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. For example, after the FDA revised its guidelines for the EUA process for COVID-19 vaccines, Ocugen's CEO stated, "Since we have been in discussions with the FDA since late last year, we do not believe that the FDA's recently revised guidance regarding EUAs raises any concerns about our ability to submit the EUA for Covaxin as planned." Other than an emphasis on cell therapies, the companies had almost nothing in common. The median estimate. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. 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. All rights reserved. This can prove to be a costly lesson to learn. Why Everyone Is Investing in 5G All WRONG, Americas #1 Stock Picker Reveals His Next 1,000% Winner, Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company, Radical New Battery Could Dismantle Oil Markets. Part of the proceeds will be used to support its partnership with Bharat. 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. 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. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. *Stock Advisor returns as of November 20, 2020. Our 3 Top Picks. But any success they find will be without me as a shareholder. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. 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. 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. 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. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. But realizing value in practice usually is a difficult endeavor. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. Instead of buying a piece of the S&P 500 or Nasdaq or even better, a common sense mega-holding like Apple (NASDAQ:AAPL) or Amazon investors in OCGN stock took on a high-risk investment and for months saw negative returns. It has real products. It means that institutional investors focused on the sector largely have passed on the pipeline. 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. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. 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. This decision. That product drives the current bull case for Ocugen stock. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). That's right -- they think these 10 stocks are even better buys. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. All rights reserved. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. What Is the Best EV Stock to Buy Now? Investors were hopeful that the small drugmaker would be able to win U.S. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. Investors appear to expect that Bharat's big win for Covaxin in India could translate to success for Ocugen in the U.S. On Dec. 22, Ocugen and Bharat announced a binding letter of intent to jointly develop Covaxin for the U.S. market. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Ocugen isnt a promotional, fly-by-night penny stock. It's hard to say for sure. 1125 N. Charles St, Baltimore, MD 21201. It has real management. 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. The chances of anything more are small but the rewards could be huge. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. CEO Shankar Musunuri stated that he was "pleased to say" that Ocugen was in discussions with the FDA about the data it had submitted for the pediatric EUA. But if they do, Ocugen stock at the least looks like an intriguing bet. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. Investors should worry about companies with no revenue even under the best of circumstances. The FDA's decision not to issue EUA really wasn't all that surprising, though. Keith Speights for The Motley Fool has a disclosure policy. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. Pricing likely would be favorable, given the lack of alternative treatments. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. Accordingly, the analyst rates OCGN a Neutral (i.e. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. Companies will inevitably be optimistic about their prospects for success (at least publicly). For priority reviews, the timeline for an approval decision is reduced to six months. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. In this case, shares rallied about four-fold in just a few days. Bharat's offering COVAXIN, a whole-viron inactivated COVID-19 vaccine candidate, has already shown promise in Phase 1 and 2 clinical trials in India and the enrollment of 26,000 subjects for the Phase 3 study is currently underway. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. At the time, Ocugen was left for dead. If Ocugen goes up, you can still profit. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Ocugen estimates the drug could have as many as 63,000 potential patients. Written by Copyright Not an offer or recommendation by Stocktwits. 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. You never know when they will suddenly go on a squeeze. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. Like other life sciences companies involved in Covid-19 vaccine. 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. You canfollow Will on Twitterat @HealyWriting. If they invent a miracle treatment for a condition, the money will find its way to the stock. Keith Speights has no position in any of the stocks mentioned. Still, Ocugens balance sheet isnt as dire as its share price might suggest. Plus500. Investing is always a game of balancing risk and reward. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. Lorem ipsum dolor sit amet, consectetur adipiscing elit. The Ocugen deal is a way to salvage some limited value. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. Thats the thing with these low-priced penny stocks. 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! *Stock Advisor returns as of June 7, 2021. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. Guys, theres no revenue here! Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. Long-term debt of $1.6 million is not a back-breaker either. Ocugen had to go an unusual route to go public. Its all about choice. To make the world smarter, happier, and richer. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Emergency Use . There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. Unfortunately for longs, OCGN is much closer to the worst of conditions. 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. An unprofitable biotech that focused on commercializing therapies to cure blindness prior to the present pandemic, Ocugen ( OCGN) stock took on a new life on December 22, when it announced. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. Written by The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. 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. 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. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. Bharat Biotech has a history of successful vaccine commercialization in South Asia. The $25 million private placement executed before the merger brought in much-needed cash. The Motley Fool has a disclosure policy. These symbols will be available throughout the site during your session. So far, that merger hasnt worked out for Histogenics former shareholders. First, the balance sheet is in at least decent shape. (See OCGN stock analysis on TipRanks). Sign up below to get this incredible offer! Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. Ocugen Inc. is a clinical stage biopharmaceutical company. All rights reserved. To find good ideas for coronavirus stocks trading at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that unites all of TipRanks equity insights. The stock had gained some traction after they announced the. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. Learn More. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. There's still a chance that the vaccine could receive a green light in Canada. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. 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. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. 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. A $30 million market capitalization doesnt mean Ocugen has no chance. But just because a company does not have crippling debt doesnt mean its a buy. Type a symbol or company name. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. That said, for investors who understand the potential downside, there is an intriguing story here. Copyright 2023 InvestorPlace Media, LLC. The equity has experienced a continual decline for years. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. However, when that occurred, Ocugen stock lost most of its value. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. Investors who have owned stocks in the last year have generally experienced some big gains. 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. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. 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. Making the world smarter, happier, and richer. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. 1 Reason to Buy Ocugen in 2023 and 2 Reasons to Sell, 3 Under-the-Radar Stocks With 590% to 772% Upside in 2023, According to Wall Street, 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Warren Buffett's Latest $2.9 Billion Buy Brings His Total Investment in This Stock to $66 Billion in 4 Years, Want $1 Million in Retirement? Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. Source: Chart courtesy of StockCharts.com. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. 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. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. Investors need to understand the risk profile here. That doesnt mean success is guaranteed. The average Ocugen stock price for the last 52 weeks is 2.10. But the allure of the space is that when a company wins, its shareholders win big. The reverse merger with Histogenics was a disappointment, but the purchase price for the NeoCart intellectual property suggests that company had little chance of survival on its own. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. ET on Friday. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. Investors were hopeful that the small drugmaker would be able to win U.S. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. The risk-reward proposition for Ocugen is obviously much different now than it was when individuals were buying the stock over the last several months. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The odds of Ocugen stock winding up at zero are material. 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. Theres even room for more lines. Ill be sticking to the stocks that are actually working. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.
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