Ocugen (OCGN) Initiated with a Buy at Chardan Capital

By Ryan Adsit

Ocugen (OCGNResearch Report) received a Buy rating and a $2.00 price target from Chardan Capital analyst Keay Nakae today. The company’s shares closed last Monday at $0.31, close to its 52-week low of $0.24.

According to TipRanks.com, Nakae is a 3-star analyst with an average return of 2.7% and a 46.3% success rate. Nakae covers the Healthcare sector, focusing on stocks such as Lineage Cell Therapeutics, Emergent Biosolutions, and Arrowhead Research.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ocugen with a $2.00 average price target.

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The company has a one-year high of $34.80 and a one-year low of $0.24. Currently, Ocugen has an average volume of 6.15M.

Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OCGN in relation to earlier this year.

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Ocugen, Inc. engages in the development and commercialization of therapies for eye diseases. Its pipeline of therapies includes OCU400, OCU410, OCU200, OCU100, and OCU300. The company was founded by Shankar Musunuri and Uday Kompella in 2013 and is headquartered in Malvern, PA.