And its at least possible that OCGN could wind up being a winner. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. The Motley Fool has a disclosure policy. However, I wont be around to find out. Type a symbol or company name. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. The content is intended to be used for informational purposes only. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. A $30 million market capitalization doesnt mean Ocugen has no chance. What Is the Best EV Stock to Buy Now? You never know when they will suddenly go on a squeeze. While anything is possible, I would not anticipate a miracle here. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. 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.. These symbols will be available throughout the site during your session. Keith Speights for 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. The Ocugen deal is a way to salvage some limited value. First, the balance sheet is in at least decent shape. Most biotech companies have intriguing stories on paper; Ocugen is no different. 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. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Theres an opportunity here. Investors who have owned stocks in the last year have generally experienced some big gains. The Motley Fool has a disclosure policy. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. 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. In that list, you can even include penny-stock trader. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. Written by Maybe. The stock had gained some traction after they announced the Ocugen merger in April. From a near-term standpoint, there are two key risks. That's right -- they think these 10 stocks are even better buys. 1125 N. Charles St, Baltimore, MD 21201. Custom BMW. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. Do Not Sell My Personal Information (CA Residents Only). I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. *Average returns of all recommendations since inception. 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. If they have solid financials, but their trials continually fail, they will likely not succeed. Investors need to understand the risk profile here. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. 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. Instead, this appears destined to join the long list of failed biotech startups. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. 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. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. 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. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. How can we possibly evaluate a stock on a fundamental basis with that being reality? Emergency Use . The company initiated its Phase 3 trial of OCU300 back in July 2018. The average Ocugen stock price for the last 52 weeks is 2.10. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. Our 3 Top Picks. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Plus500. Pricing likely would be favorable, given the lack of alternative treatments. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Sign up below to get this incredible offer! Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. Copyright 2023 InvestorPlace Media, LLC. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. 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. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. Keith Speights for Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. That doesnt mean success is guaranteed. 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." After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. 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. Copy and paste multiple symbols separated by spaces. 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. Theres even room for more lines. At the time, Ocugen was left for dead. 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. Do Not Sell My Personal Information (CA Residents Only). Without NeoCart, that burn likely comes down. Its certainly possible. If Ocugen goes up, you can still profit. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. Source: Chart courtesy of StockCharts.com. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. Long-term debt of $1.6 million is not a back-breaker either. 1125 N. Charles St, Baltimore, MD 21201. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. See disclosure here. What should investors do now? 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. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Type a symbol or company name. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. 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. All rights reserved. All rights reserved. The Motley Fool->. The potential synergies of such a union do not seem clear. Invest better with The Motley Fool. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. All rights reserved. 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.
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