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. Our 3 Top Picks. Plus500. Thats the thing with these low-priced penny stocks. Companies will inevitably be optimistic about their prospects for success (at least publicly). All rights reserved. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. The Motley Fool has a disclosure policy. 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. Bharat Biotech has a history of successful vaccine commercialization in South Asia. But just because a company does not have crippling debt doesnt mean its a buy. 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. Our 3 Top Picks. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. Guys, theres no revenue here! According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. If you missed that action, you missed all the gains. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. The Motley Fool has no position in any of the stocks mentioned. All rights reserved. Pricing likely would be favorable, given the lack of alternative treatments. (See OCGN stock analysis on TipRanks). Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. Copyright 2023 InvestorPlace Media, LLC. The odds of Ocugen stock winding up at zero are material. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. Theres even room for more lines. *ALL INFO ABOUT THE BIKE AND GEAR USED DOWN BELOW**If not listed it's left stock*BIKE: 2018, BMW R NINET SCRAMBLER.EXHAUST: Akrapovic Headers, Uni. Do not expect a recovery in Ocugen stock. And its at least possible that OCGN could wind up being a winner. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. If OCU300 is approved, theres a reasonably large market. What Is the Best EV Stock to Buy Now? The FDA's decision not to issue EUA really wasn't all that surprising, though. 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.. Copyright Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). Ocugen Inc First Quarter 2022 Financial Results and Recent Business Highlights 04/21/2022 Noble Capital Markets' Eighteenth Annual Investor Conference 03/14/2022 34th Annual ROTH Conference 02/25/2022 Ocugen, Inc. Q4 and Full Year 2021 Financial Results and Recent Business Highlights 01/10/2022 H.C. Wainwright Bioconnect Conference 12/22/2021 When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. 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. 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. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. Histogenics itself highlights the risks involved in small-cap biotech. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. Its worth emphasizing: Ocugen stock is a play with enormous risk. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. Keith Speights owns shares of Pfizer. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. That's right -- they think these 10 stocks are even better buys. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. Ocugen sold $25 million of stock in a private placement before the merger. 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. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. The Motley Fool->. Copyright Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. Ocugen had to go an unusual route to go public. With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell Amryt Pharma releases Q-2 how to setup copy trading labrador gold stock that show strong revenue growth as The first split for NKE took place on October 08, Below, we'll pit these two dominant consumer-discretionary giants against each other, with an eye toward long-term . Maybe. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. The Motley Fool has a disclosure policy. Investors were hopeful that the small drugmaker would be able to win U.S. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. OCGN - Ocugen Inc Forecast - CNNMoney.com - CNN Business The stock had gained some traction after they announced the. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. If they invent a miracle treatment for a condition, the money will find its way to the stock. Click here to see what Matt has up his sleeve now. 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! This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. OCGN does not even appear to have an apparent reason to exist. *Average returns of all recommendations since inception. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. Ocugen - Stock Price History | OCGN | MacroTrends A $30 million market capitalization doesnt mean Ocugen has no chance. Type a symbol or company name. 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." These symbols will be available throughout the site during your session. I will concede this: The one great thing about the stock market is there is a style for everyone. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. Gw pharmaceuticals stock dividends will nike stock split soon Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. quotes delayed at least 15 minutes, all others at least 20 minutes. If Ocugen goes up, you can still profit. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. 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. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Type a symbol or company name. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. 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. 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. 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. 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. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. 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. Cost basis and return based on previous market day close. Ocugen stock jumps following positive Covid vaccine study results At the beginning of 2020, Ocugen shares were trading at just 47 cents. It's hard to say for sure. Do Not Sell My Personal Information (CA Residents Only). Keith Speights has no position in any of the stocks mentioned. What Is the Best EV Stock to Buy Now? If You Invested $1,000 In Ocugen Stock One Year Ago, Here's - Insider Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. Other than an emphasis on cell therapies, the companies had almost nothing in common. Literally, zero. 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. 2023 InvestorPlace Media, LLC. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 1125 N. Charles St, Baltimore, MD 21201. Ocugen. The Ocugen deal is a way to salvage some limited value. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. 2023 InvestorPlace Media, LLC. Here are three prudent steps to take. (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. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. UPDATE 1-Soccer-Traore on target as Wolves stun wasteful Spurs, Peruvian communities to resume blockade of crucial "mining corridor", One student loan forgiveness effort 'hasnt gotten the attention it deserves': expert, RPT-Death toll in strike on Ukraine's Zaporizhzhia rises to 11 - officials, Soccer-Traore on target as Wolves stun wasteful Spurs. ET on Friday. Instead, this appears destined to join the long list of failed biotech startups. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. This decision. 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. 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. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. 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. 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! Don't Get Greedy With Ocugen Stock, Says Analyst Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. 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. Part of the proceeds will be used to support its partnership with Bharat. The biotech stock promptly crashed by more than 30%. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. Ocugen Inc. is a clinical stage biopharmaceutical company. Its all about choice. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. Please check your download folder. However, I wont be around to find out. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. In that list, you can even include penny-stock trader. 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. market." Disclaimer: The opinions expressed in this article are solely those of the featured analysts. 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. So far, that merger hasnt worked out for Histogenics former shareholders. Unfortunately for longs, OCGN is much closer to the worst of conditions. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. The content is intended to be used for informational purposes only. Making the world smarter, happier, and richer. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. 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? But any success they find will be without me as a shareholder. The $25 million private placement executed before the merger brought in much-needed cash. The Motley Fool->. Investors need to understand the risk profile here. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. The short answer is: everything. At the time, Ocugen was left for dead. Written by Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. The second is that the balance sheet still needs some help. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. As of this writing, Matt did not hold a position in any of theaforementioned securities. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. How can we possibly evaluate a stock on a fundamental basis with that being reality? Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. The Motley Fool has no position in any of the stocks mentioned. Source: Chart courtesy of StockCharts.com. But the allure of the space is that when a company wins, its shareholders win big. It means that institutional investors focused on the sector largely have passed on the pipeline. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. But it does mean something. Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. 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 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. The median estimate. Nasdaq The equity has experienced a continual decline for years. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. As of this writing, Vince Martin has no positions in any securities mentioned. The potential synergies of such a union do not seem clear. Sign up below to get this incredible offer! Copy and paste multiple symbols separated by spaces. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Like other life sciences companies involved in Covid-19 vaccine. Long-term debt of $1.6 million is not a back-breaker either. 1125 N. Charles St, Baltimore, MD 21201. How long might it take for Ocugen to win full FDA approval for Covaxin? However, even from this limited vantage point, OCGN appears destined to fail. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. 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. Ocugen estimates the drug could have as many as 63,000 potential patients. 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. 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. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). The chances of anything more are small but the rewards could be huge. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). Sign up below to get this incredible offer! To make the world smarter, happier, and richer. *Stock Advisor returns as of November 20, 2020. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. However, when that occurred, Ocugen stock lost most of its value. 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. Without NeoCart, that burn likely comes down. The Motley Fool has a disclosure policy. 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. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. 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. Ocugen: Peripheral Scandals Taint This Expired COVID-19 'Me-Too' Longshot The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. It is very important to do your own analysis before making any investment. The Ocugen deal is a way to salvage some limited value. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Start trading Options with Saxo today. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Investing is always a game of balancing risk and reward. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization.
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