2023 InvestorPlace Media, LLC. The latest closing stock price for Ocugen as of March 03, 2023 is. 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. As of this writing, Vince Martin has no positions in any securities mentioned. What Is the Best EV Stock to Buy Now? However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Investors need to understand the risk profile here. 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. 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. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. But it does mean something. 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. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. 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. 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. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. 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. Sign up below to get this incredible offer! You could sell some or all of your Ocugen shares and buy long-term call options on the stock. So far, that merger hasnt worked out for Histogenics former shareholders. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. So, what goes wrong? Ocugen completes $100M stock sale as it works with Bharat Biotech on 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. 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. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). To be sure, current cash isnt enough. 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. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. 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. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. For investors new to the story, there are some positives when it comes to OCGN stock. It means that institutional investors focused on the sector largely have passed on the pipeline. Why Ocugen Stock Is Crashing Today | The Motley Fool - Nasdaq 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. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. It brings in no revenue. Ocugen does have at least 180 days to cure that problem, but the simplest answer is for the company to execute a reverse stock split. 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. Written by Guys, theres no revenue here! In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. 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. Even before that point, the most promising candidates generally can find funding. Ill be sticking to the stocks that are actually working. Cost basis and return based on previous market day close. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Ocugen: Peripheral Scandals Taint This Expired COVID-19 'Me-Too' Longshot The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. You canfollow Will on Twitterat @HealyWriting. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. The company stated that it will pursue a path to file for full FDA approval of Covaxin. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. Here are three prudent steps to take. Ocugen to Present at the 2018 BIO International Convention | Ocugen, Inc. Hold) without suggesting a price target. quotes delayed at least 15 minutes, all others at least 20 minutes. quotes delayed at least 15 minutes, all others at least 20 minutes. 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. 1125 N. Charles St, Baltimore, MD 21201. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Ocugen. It means that raising capital will be more difficult going forward. These symbols will be available throughout the site during your session. 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. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. It has real products. Source: Chart courtesy of StockCharts.com. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. The Motley Fool->. Buy These 2 Stocks in 2023 and Hold for the Next Decade, 2 Stocks That Are About to Make Their Shareholders Richer, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, the company's fourth-quarter conference call last month, Copyright, Trademark and Patent Information. 2023 InvestorPlace Media, LLC. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. This requires no immediate effort on your part. 1125 N. Charles St, Baltimore, MD 21201. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. In this case, shares rallied about four-fold in just a few days. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. OCGN | Ocugen Inc. Stock Price & News - WSJ Long-term debt of $1.6 million is not a back-breaker either. A $30 million market capitalization doesnt mean Ocugen has no chance. Events - Ocugen The Ocugen deal is a way to salvage some limited value. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. *Stock Advisor returns as of June 7, 2021. Not an offer or recommendation by Stocktwits. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. All rights reserved. If they invent a miracle treatment for a condition, the money will find its way to the stock. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. Keith Speights has no position in any of the stocks mentioned. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. 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. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. The stock had gained some traction after they announced the. Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. 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. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. But there is no question some big-name stocks performed better than others along the way. 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. Nasdaq 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. 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. 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. Do not expect a recovery in Ocugen stock. But any success they find will be without me as a shareholder. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. (See OCGN stock analysis on TipRanks). In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. Create your Watchlist to save your favorite quotes on Nasdaq.com. Type a symbol or company name. 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. To make the world smarter, happier, and richer. 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. But just because a company does not have crippling debt doesnt mean its a buy. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. Investors should worry about companies with no revenue even under the best of circumstances. Investors who have owned stocks in the last year have generally experienced some big gains. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Ocugen Inc. is a clinical stage biopharmaceutical company. 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! Typically, I care little about financials with biotechs. Copyright 2023 InvestorPlace Media, LLC. Ocugen sold $25 million of stock in a private placement before the merger. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. Emergency Use . 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. 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. Nasdaq Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. 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." Custom BMW. (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. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. These symbols will be available throughout the site during your session. 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. 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. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. The equity has experienced a continual decline for years. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. As of this writing, Matt did not hold a position in any of theaforementioned securities. Copy and paste multiple symbols separated by spaces. Instead, this appears destined to join the long list of failed biotech startups. 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. All rights reserved. It has no treatments to offer the market. It's hard to say for sure. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Click here to see what Matt has up his sleeve now. See disclosure here. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. 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. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14.