The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. The average Ocugen stock price for the last 52 weeks is 2.10. 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. (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. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. That pathway will likely require the company to conduct further clinical testing of the vaccine in the U.S. Are there any other near-term catalysts for the biotech stock? Gw pharmaceuticals stock dividends will nike stock split soon 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. There's still a chance that the vaccine could receive a green light in Canada. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. It means that raising capital will be more difficult going forward. Its worth emphasizing: Ocugen stock is a play with enormous risk. 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. OCGN Stock Price | Ocugen Inc. Stock Quote (U.S.: Nasdaq) - MarketWatch You never know when they will suddenly go on a squeeze. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. Investing is always a game of balancing risk and reward. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). As of this writing, Matt did not hold a position in any of theaforementioned securities. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. market." Without NeoCart, that burn likely comes down. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. The potential synergies of such a union do not seem clear. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. Part of the proceeds will be used to support its partnership with Bharat. There Are So Many Stocks to Buy Ocugen Isn't One of Them The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. Not an offer or recommendation by Stocktwits. These symbols will be available throughout the site during your session. 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. Copy and paste multiple symbols separated by spaces. Plus500. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. However, I wont be around to find out. Ocugen had to go an unusual route to go public. Written by 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. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. Is Ocugen Stock Still Worth Buying After Its 800%-Plus Rally? Analyst In November, Bharat Biotech began Phase 3 testing of Covaxin in India. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. 7 Travel Stocks to Buy Banking On Pent-Up Demand. 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. The chances of anything more are small but the rewards could be huge. If you missed that action, you missed all the gains. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. 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. Ramakanth believes the broad immunity targeting different components of the virus could potentially provide better protection against emerging mutant viruses, such as the one currently circulating in the UK. With this in mind, in the Phase 1 study, COVAXIN has shown robust antibody responses against spike (S1) protein, receptor-binding domain (RBD) and the nucleocapsid (N) protein of SARS-CoV-2. Create your Watchlist to save your favorite quotes on Nasdaq.com. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. 1125 N. Charles St, Baltimore, MD 21201. From a near-term standpoint, there are two key risks. This requires no immediate effort on your part. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. Ocugen Inc Stock - OCGN Share Price Today, News and Discussion - Stocktwits Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. Investors were hopeful that the small drugmaker would be able to win U.S. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. 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. Its certainly possible. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. Custom BMW #youtube #moto #motorcycle #bike #youtubeshorts #shorts Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. *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. Copyright Accordingly, the analyst rates OCGN a Neutral (i.e. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Even at around 40 cents per share, I would consider Ocugen stock overvalued. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. However, even from this limited vantage point, OCGN appears destined to fail. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. Pricing likely would be favorable, given the lack of alternative treatments. OCGN Stock Forecast 2022 and 2025: Is Ocugen Set to Explode? The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. 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. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. 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. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. It has real management. That said, for investors who understand the potential downside, there is an intriguing story here. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. To make the world smarter, happier, and richer. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. The Motley Fool recommends Moderna Inc. Maybe. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. 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. Ocugen estimates the drug could have as many as 63,000 potential patients. 1125 N. Charles St, Baltimore, MD 21201. Ocugen Stock Crashes: What Should Investors Do Now? Instead, this appears destined to join the long list of failed biotech startups. Maybe OCGN stock will be one of them again. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. Our 3 Top Picks. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. Don't Get Greedy With Ocugen Stock, Says Analyst Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Ocugen Stock Is Not for the Faint of Heart - InvestorPlace This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. The company initiated its Phase 3 trial of OCU300 back in July 2018. The $25 million private placement executed before the merger brought in much-needed cash. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. That product drives the current bull case for Ocugen stock. At the time, Ocugen was left for dead. That doesnt mean success is guaranteed. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. Copy and paste multiple symbols separated by spaces. The equity has experienced a continual decline for years. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. 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. 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.. quotes delayed at least 15 minutes, all others at least 20 minutes. 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. Most biotech companies have intriguing stories on paper; Ocugen is no different. 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? 2023 InvestorPlace Media, LLC. The odds of Ocugen stock winding up at zero are material. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Invest better with The Motley Fool. 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. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. The median estimate. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. 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. Even before that point, the most promising candidates generally can find funding. Instead of buying a piece of the S&P 500 or Nasdaq or even better, a common sense mega-holding like Apple (NASDAQ:AAPL) or Amazon investors in OCGN stock took on a high-risk investment and for months saw negative returns. The Motley Fool has a disclosure policy. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. But just because a company does not have crippling debt doesnt mean its a buy. For investors new to the story, there are some positives when it comes to OCGN stock. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. Investors who have owned stocks in the last year have generally experienced some big gains. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. I will concede this: The one great thing about the stock market is there is a style for everyone. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. Emergency Use . I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. Can you feel the ground moving beneath your feet? 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 . 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. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Making the world smarter, happier, and richer. 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." Thats why we give you a wide range of Options on stocks, indices, commodities and FX. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. Please check your download folder. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. 1125 N. Charles St, Baltimore, MD 21201. The Ocugen deal is a way to salvage some limited value. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. 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. All rights reserved. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. 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. Unfortunately for longs, OCGN is much closer to the worst of conditions. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Theres even room for more lines. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. Create your Watchlist to save your favorite quotes on Nasdaq.com. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. 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. Keith Speights has no position in any of the stocks mentioned. If OCU300 is approved, theres a reasonably large market. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. Investors were hopeful that the small drugmaker would be able to win U.S. Investors should worry about companies with no revenue even under the best of circumstances. Companies will inevitably be optimistic about their prospects for success (at least publicly). As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. 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. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. Keith Speights has no position in any of the stocks mentioned. What Is the Best EV Stock to Buy Now? There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. Theres even room for more lines. The statistics support having long-term exposure to this asset class. The FDA's decision not to issue EUA really wasn't all that surprising, though. The steep decline came after the company announced that the U.S. Food and Drug Administration (FDA) won't grant Emergency Use Authorization (EUA) for COVID-19 vaccine Covaxin in children ages two to 18. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. 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. Ocugen Inc. is a clinical stage biopharmaceutical company. And its at least possible that OCGN could wind up being a winner. quotes delayed at least 15 minutes, all others at least 20 minutes. Why Ocugen Stock Is Crashing Today | The Motley Fool - Nasdaq Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. Like other life sciences companies involved in Covid-19 vaccine. It is very important to do your own analysis before making any investment. It has real products. The newly renamed Ocugen stock kept declining through year-end, but has managed to stage a bit of a rally in 2020, gaining 15% year-to-date. Why Ocugen Stock Is Crushing It Today | Nasdaq All rights reserved. Do Not Sell My Personal Information (CA Residents Only). With No Revenue or Approved Treatments, Ocugen Stock Is a - Insider Objective investors could have clearly seen then that there actually were significant reasons to be concerned. Its certainly possible the deal will fall through, leaving Ocugen with just the $15.8 million in cash with which it closed the third quarter, according to its 10-Q. It means that institutional investors focused on the sector largely have passed on the pipeline. Type a symbol or company name. 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. Ocugen completes $100M stock sale as it works with Bharat Biotech on 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. However, sometimes the optimism isn't justified. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. That's not going to happen now. For now, though, what happens in India stays in India. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. Ocugen stock jumps following positive Covid vaccine study results Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. Do Not Sell My Personal Information (CA Residents Only). Histogenics itself highlights the risks involved in small-cap biotech. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. The stock had gained some traction after they announced the. It brings in no revenue. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. If they have solid financials, but their trials continually fail, they will likely not succeed. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. The biotech stock promptly crashed by more than 30%. Ocugen Inc. Announces Closing of $100 Million Registered However, when that occurred, Ocugen stock lost most of its value.