Guys, theres no revenue here! It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. Please check your download folder. Its all about choice. 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. If they have solid financials, but their trials continually fail, they will likely not succeed. Investors were hopeful that the small drugmaker would be able to win U.S. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. As of this writing, Vince Martin has no positions in any securities mentioned. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. 2023 InvestorPlace Media, LLC. The short answer is: everything. The Motley Fool->. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. The Motley Fool has no position in any of the stocks mentioned. This requires no immediate effort on your part. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. 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. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. 1125 N. Charles St, Baltimore, MD 21201. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. 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. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. Please check your download folder. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. First, the balance sheet is in at least decent shape. Thats the thing with these low-priced penny stocks. At the time, Ocugen was left for dead. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. Copyright 2023 InvestorPlace Media, LLC. Our 3 Top Picks. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. 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. Even at around 40 cents per share, I would consider Ocugen stock overvalued. Typically, I care little about financials with biotechs. 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. Do not expect a recovery in Ocugen stock. Ocugen estimates the drug could have as many as 63,000 potential patients. Create your Watchlist to save your favorite quotes on Nasdaq.com. (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 most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). 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. market." In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Ocugen isnt a promotional, fly-by-night penny stock. 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. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. 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. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. So, what goes wrong? The second is that the balance sheet still needs some help. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. 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 FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. And while Ocugen will need more capital at some point, the company at least has time to push OCU300 forward and get its story out to investors. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. 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. The average Ocugen stock price for the last 52 weeks is 2.10. 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. What Is the Best EV Stock to Buy Now? You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Here are three prudent steps to take. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Investors need to understand the risk profile here. Maybe OCGN stock will be one of them again. In that list, you can even include penny-stock trader. The Motley Fool has no position in any of the stocks mentioned. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. Investors were hopeful that the small drugmaker would be able to win U.S. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. Create your Watchlist to save your favorite quotes on Nasdaq.com. It has no treatments to offer the market. The chances of anything more are small but the rewards could be huge. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. The Motley Fool has a disclosure policy. 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. The company stated that it will pursue a path to file for full FDA approval of Covaxin. Instead, this appears destined to join the long list of failed biotech startups. Theres even room for more lines. 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. 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. These symbols will be available throughout the site during your session. 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. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. Companies will inevitably be optimistic about their prospects for success (at least publicly). *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. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. Keith Speights has no position in any of the stocks mentioned. Conditions have only become worse since that time. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. Without NeoCart, that burn likely comes down. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. All rights reserved. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. The Motley Fool recommends Moderna Inc. The median estimate. 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. Hold) without suggesting a price target. 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. Do Not Sell My Personal Information (CA Residents Only). 1125 N. Charles St, Baltimore, MD 21201. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. But if they do, Ocugen stock at the least looks like an intriguing bet. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. The equity has experienced a continual decline for years. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. But it does mean something. I will concede this: The one great thing about the stock market is there is a style for everyone. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Theres an opportunity here. Accordingly, the analyst rates OCGN a Neutral (i.e. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. Ocugen sold $25 million of stock in a private placement before the merger. You canfollow Will on Twitterat @HealyWriting. 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 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. If OCU300 is approved, theres a reasonably large market. Ocugen had to go an unusual route to go public. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Investing is always a game of balancing risk and reward. The biotech stock promptly crashed by more than 30%. See disclosure here. The company initiated its Phase 3 trial of OCU300 back in July 2018. Copy and paste multiple symbols separated by spaces. Bharat Biotech has a history of successful vaccine commercialization in South Asia. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. Long-term debt of $1.6 million is not a back-breaker either. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. The Motley Fool has a disclosure policy. That's right -- they think these 10 stocks are even better buys. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. However, I wont be around to find out. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. Keith Speights has no position in any of the stocks mentioned. Copyright However, even from this limited vantage point, OCGN appears destined to fail. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. 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 In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. It means that institutional investors focused on the sector largely have passed on the pipeline. That's not going to happen now. ET on Friday. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Custom BMW. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. Can you feel the ground moving beneath your feet? 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..