Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. 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. Don't Get Greedy With Ocugen Stock, Says Analyst But any success they find will be without me as a shareholder. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. You never know when they will suddenly go on a squeeze. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. The market capitalization of Relmada Therapeutics (NASDAQ:RLMD) went from under $10 million at the end of 2017 to over $500 million at the moment. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Ocugen sold $25 million of stock in a private placement before the merger. 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. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. quotes delayed at least 15 minutes, all others at least 20 minutes. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. All rights reserved. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. 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. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. The average Ocugen stock price for the last 52 weeks is 2.10. The company stated that it will pursue a path to file for full FDA approval of Covaxin. 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. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. 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. Even at around 40 cents per share, I would consider Ocugen stock overvalued. Investors were hopeful that the small drugmaker would be able to win U.S. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. In this case, shares rallied about four-fold in just a few days. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. (See OCGN stock analysis on TipRanks). If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. *Stock Advisor returns as of June 7, 2021. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. Copyright Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. 1125 N. Charles St, Baltimore, MD 21201. If they invent a miracle treatment for a condition, the money will find its way to the stock. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. Hold) without suggesting a price target. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. Written by With this, the newly formed Ocugen initiated a 60:1 reverse stock split. Even before that point, the most promising candidates generally can find funding. It took Moderna roughly 10 months from the initiation of the late-stage study for its COVID-19 vaccine to the point where the company filed for full FDA approval. Ocugen Stock Crashes: What Should Investors Do Now? That's right -- they think these 10 stocks are even better buys. 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. As of this writing, Vince Martin has no positions in any securities mentioned. Companies will inevitably be optimistic about their prospects for success (at least publicly). The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). Do Not Sell My Personal Information (CA Residents Only). 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. Type a symbol or company name. However, when that occurred, Ocugen stock lost most of its value. But theres a big difference in having an edge flipping sub-$5 stocks vs. combing over this group as an investor looking for sound fundamentals and a mistakenly low stock price. The Motley Fool->. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. However, due to the fact the details of the definitive agreement have yet to be finalized, in addition to the current lack of insight into the U.S. regulatory pathway or commercial strategy, Ramakanth stays on the sidelines for now. 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. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. Emergency Use . Ocugen: Peripheral Scandals Taint This Expired COVID-19 'Me-Too' Longshot 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. Keith Speights has no position in any of the stocks mentioned. Events - Ocugen Copyright 2023 InvestorPlace Media, LLC. OCGN Stock Price | Ocugen Inc. Stock Quote (U.S.: Nasdaq) - MarketWatch Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. It brings in no revenue. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. Can you feel the ground moving beneath your feet? 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. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. The short answer is: everything. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. How long might it take for Ocugen to win full FDA approval for Covaxin? After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. So, what goes wrong? 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. The Motley Fool has a disclosure policy. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. 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. 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. Still, Ocugens balance sheet isnt as dire as its share price might suggest. The Motley Fool has a disclosure policy. 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. First, the balance sheet is in at least decent shape. 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. 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. Sign up below to get this incredible offer! Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. 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." 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. To make the world smarter, happier, and richer. It's hard to say for sure. 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." 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. Pricing likely would be favorable, given the lack of alternative treatments. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Conditions have only become worse since that time. However, I wont be around to find out. Typically, I care little about financials with biotechs. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. *Average returns of all recommendations since inception. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Why Ocugen Stock Is Crushing It Today | Nasdaq If it goes down, your loss won't be as great as it would be if you held onto all of your shares. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. market." Please check your download folder. This requires no immediate effort on your part. The odds of Ocugen stock winding up at zero are material. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Custom BMW. These options will be cheaper than owning the stock itself. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. Investing is always a game of balancing risk and reward. Ocugen. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. Create your Watchlist to save your favorite quotes on Nasdaq.com. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. If Ocugen goes up, you can still profit. If you missed that action, you missed all the gains. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. The Motley Fool->. 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! quotes delayed at least 15 minutes, all others at least 20 minutes. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). Ocugen Inc. is a clinical stage biopharmaceutical company. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). 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. If you use our chart images on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. 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. Accordingly, the analyst rates OCGN a Neutral (i.e. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. Unfortunately for investors, the U.S. FDA did not grant Covaxin an Emergency Use Authorization and instead recommended in June that Ocugen opt for a Biologic License Application that will likely require additional Phase 3 testing. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. OCGN Stock Forecast 2022 and 2025: Is Ocugen Set to Explode? Theres even room for more lines. Copyright But just because a company does not have crippling debt doesnt mean its a buy. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. 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. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. The Motley Fool recommends Moderna Inc. The FDA's decision not to issue EUA really wasn't all that surprising, though. Ocugen Inc Stock - OCGN Share Price Today, News and Discussion - Stocktwits 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. 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. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Our 3 Top Picks. Here are three prudent steps to take. 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? Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. See disclosure here. Guys, theres no revenue here! The latest closing stock price for Ocugen as of March 03, 2023 is. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. All rights reserved. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff, 5 Penny Cryptos With the Most Potential for Growth. The Motley Fool has a disclosure policy. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. 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. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). Investors were hopeful that the small drugmaker would be able to win U.S. 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. 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. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. The Motley Fool has no position in any of the stocks mentioned. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. Its all about choice. 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. There's still a chance that the vaccine could receive a green light in Canada. At the time, Ocugen was left for dead. Nasdaq The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. ET on Friday. The stock had gained some traction after they announced the Ocugen merger in April. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. Like other life sciences companies involved in Covid-19 vaccine. I will concede this: The one great thing about the stock market is there is a style for everyone. Source: Chart courtesy of StockCharts.com. By the beginning of March, the stock was still trading at 45 cents as news of the coronavirus spreading in China prompted concerns about a U.S. pandemic. 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. 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. 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. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. While anything is possible, I would not anticipate a miracle here. For priority reviews, the timeline for an approval decision is reduced to six months. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. 7 Travel Stocks to Buy Banking On Pent-Up Demand. Its worth emphasizing: Ocugen stock is a play with enormous risk. This can prove to be a costly lesson to learn. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. Most biotech companies have intriguing stories on paper; Ocugen is no different. 2023 InvestorPlace Media, LLC. Gw pharmaceuticals stock dividends will nike stock split soon Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. 2023 InvestorPlace Media, LLC. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. It means that institutional investors focused on the sector largely have passed on the pipeline. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. The Ocugen deal is a way to salvage some limited value. For now, though, what happens in India stays in India. Unfortunately for longs, OCGN is much closer to the worst of conditions. More importantly, the 5-star analyst added, COVAXIN also induces comparable levels of neutralizing antibodies to those in human convalescent serum," which, the analyst believes," bodes well for the success of the ongoing Phase 3 trial in India.. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. With No Revenue or Approved Treatments, Ocugen Stock Is a - Insider 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.. All rights reserved. Create your Watchlist to save your favorite quotes on Nasdaq.com.