Ocugen (NASDAQ:OCGN) Expected to Announce Earnings of -$0.03 Per Share

Wall Street analysts forecast that Ocugen (NASDAQ:OCGN) will post earnings of ($0.03) per share for the current quarter, according to Zacks. Zero analysts have issued estimates for Ocugen’s earnings. Ocugen posted earnings per share of ($1.80) in the same quarter last year, which would indicate a positive year over year growth rate of 98.3%. The business is expected to report its next quarterly earnings report on Friday, August 14th.

On average, analysts expect that Ocugen will report full year earnings of ($0.17) per share for the current financial year, with EPS estimates ranging from ($0.18) to ($0.15). For the next financial year, analysts expect that the company will report earnings of ($0.14) per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Ocugen.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.02).

Several research firms have weighed in on OCGN. Chardan Capital cut their price objective on Ocugen from $2.00 to $0.70 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Zacks Investment Research raised Ocugen from a “hold” rating to a “buy” rating and set a $0.50 price objective on the stock in a research report on Tuesday. Finally, HC Wainwright cut Ocugen from a “buy” rating to a “neutral” rating in a research report on Monday, June 1st.

An institutional investor recently raised its position in Ocugen stock. UBS Group AG grew its position in Ocugen (NASDAQ:OCGN) by 964.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,091 shares of the company’s stock after buying an additional 162,266 shares during the period. UBS Group AG owned 0.24% of Ocugen worth $39,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 3.02% of the company’s stock.

Ocugen stock traded down $0.02 during trading hours on Thursday, hitting $0.51. 497,457 shares of the stock traded hands, compared to its average volume of 69,985,144. The firm’s 50-day moving average price is $0.29 and its two-hundred day moving average price is $0.38. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.22. The company has a market cap of $37.65 million, a PE ratio of -0.34 and a beta of 2.72. Ocugen has a one year low of $0.17 and a one year high of $17.40.

Ocugen Company Profile

Ocugen, Inc, a clinical stage biopharmaceutical company, focuses on discovering, developing, and commercializing a pipeline of innovative therapies that address rare and underserved eye diseases. The company offers an ophthalmology portfolio that includes novel gene therapies, biologics, and small molecules, as well as targets a range of retinal and ocular surface diseases.

Featured Story: Systematic Risk

Get a free copy of the Zacks research report on Ocugen (OCGN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ocugen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocugen and related companies with MarketBeat.com's FREE daily email newsletter.