Why did OCGN stock drop? Based on OCGN stock latest news, the company has lost momentum because the FDA will likely require the company to complete a new phase 3 trial for Covaxin despite the EUA. This means that OCGN – which will already be competing with major vaccine companies like Pfizer and Johnson & Johnson – will have a smaller share of the already cramped market.
Is ocugen (ocgn) stock losing value?
Jul 09, 2021 · Why Shares of Ocugen Are Dropping Today By Jim Halley - Jul 9, 2021 at 5:11PM Key Points The World Health Organization is reportedly saying a decision on Covaxin should come in four to six weeks....
What is the biggest risk hanging over ocugen stock?
Oct 18, 2021 · Ocugen (OCGN) stock news OCGN shares traded near $0.30 in December of last year but spiked to nearly $20 by February 2021. The reason for the surge in OCGN shares was Ocugen partnering with Bharat...
Should you invest in ocugen (ocgn)?
Jun 07, 2021 · The problem for any investor coming in now is that even after its recent price drop, this stock still carries a higher valuation than it warrants, …
What happened to ocugen?
Feb 09, 2021 · Shares of Ocugen (NASDAQ: OCGN) fell on Tuesday after an analyst sounded a note of caution to investors. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.
Why is OCGN down?
Ocugen's OCGN stock declined 3.8% on Tuesday after the FDA placed a clinical hold on a phase II/III immuno-bridging and broadening clinical study on its COVID-19 vaccine, Covaxin.Apr 13, 2022
Will OCGN stock go back up?
Long-term Ocugen stock forecast 2022-2025 Algorithm-based forecasting service Wallet Investor gave a positive OCGN stock price forecast. The site predicted that the share price could climb over the next year, to $7.2 by March 2023.
Why is Ocugen stock dropping?
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.Mar 4, 2022
Is OCGN a good stock to buy?
Is OCUGEN Stock a good buy in 2022, according to Wall Street analysts? The consensus among 3 Wall Street analysts covering (NASDAQ: OCGN) stock is to Hold OCGN stock.
What is the prediction for OCGN stock?
Stock Price Forecast The 4 analysts offering 12-month price forecasts for Ocugen Inc have a median target of 7.00, with a high estimate of 15.00 and a low estimate of 4.00. The median estimate represents a +158.78% increase from the last price of 2.71.
Why did OCGN stock go up?
Shares of Ocugen ( OCGN 0.00% ) had skyrocketed by 19.1% as of 11:15 a.m. ET on Tuesday. The huge gain came after the company announced that the Food and Drug Administration (FDA) had lifted the clinical hold on its investigational new drug (IND) application for COVID-19 vaccine Covaxin.Feb 22, 2022
Will OCGN get FDA approval?
Summary. The FDA has finally lifted its clinical hold of Ocugen's IND submission for the COVID vaccine COVAXIN. COVAXIN was developed by Bharat Biotech and has produced strong efficacy data across all strains of COVID and in children.Feb 24, 2022
Is Ocugen a buy Zacks?
How good is it? See rankings and related performance below. The VGM Score are a complementary set of indicators to use alongside the Zacks Rank....Momentum Scorecard. More Info.Zacks RankDefinitionAnnualized Return1Strong Buy24.93%2Buy18.44%3Hold9.99%4Sell5.61%2 more rows
Who bought OCGN stock?
Top 10 Owners of Ocugen IncStockholderStakeShares bought / soldBlackRock Fund Advisors5.21%+18,773The Vanguard Group, Inc.4.69%-245,162Geode Capital Management LLC1.52%-82,481JPMorgan Asset Management (UK) Lt...1.49%+3,197,6156 more rows
What happened
Shares of biopharmaceutical company Ocugen ( NASDAQ:OCGN) dropped by 31.1% in May, according to S&P Global Market Intelligence data. Investors were concerned because the downward trend in COVID-19 cases in the United States could hurt the chances for the company's vaccine, which it is developing with India's Bharat Bioscience.
So what
Ocugen's stock is up by more than 3,389% over the past 12 months and more than 376% this year. Those massive gains were predicated on the possibility that its candidate coronavirus vaccine COVAXIN, which the company says is effective against the new COVID-19 variants of concern, would be approved -- and be profitable.
Now what
There's a lot of risk involved with this biotech stock. There's a good possibility that COVAXIN may not be granted an EUA, based on the FDA's recent statement. Even if it does get that EUA, Ocugen's vaccine is coming late to the party, putting it at a significant disadvantage to the entrenched COVID-19 vaccines, at least in the U.S. market.
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Ocugen Now Relies Solely on a Continued Covid-19 Crisis
I have written two articles about Ocugen (NASDAQ:OCGN) in the past and I must say that if I had to summarize OCGN stock in two words, they would be irrational exuberance. Source: shutterstock.com/PhotobyTawat As of August 9, 2021, the company has a market valuation of $1.61 billion with zero revenue for 2019 and 2018.
Implied Volatility Surging for Ocugen (OCGN) Stock Options
Investors need to pay close attention to Ocugen (OCGN) stock based on the movements in the options market lately.
Ocugen, Inc. (OCGN) Q2 2021 Earnings Call Transcript
With me today is Ocugen's chairman and CEO, Dr. Shankar Musunuri, who will provide a business update, and our financial officer -- chief financial officer and head of corporate development, Sanjay Subramanian, who will provide a financial update.
Why Ocugen Is Rallying Today
Shares of coronavirus vaccine developer Ocugen (NASDAQ: OCGN) are up 6.74% to $8.00 apiece as of 2:30 p.m. EDT. The company provided business updates in its second-quarter earnings release earlier in the day.
Ocugen's (OCGN) Q2 Earnings Miss Estimates, Stock Down
Ocugen (OCGN) miss earnings estimates in the second quarter of 2021. Stock down.
Ocugen Merger Has Failed to Turn Stock Around
For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. The equity has experienced a continual decline for years. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014.
OCGN Is an Overpriced Cheap Stock
Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open.
Bottom Line: Avoid Ocugen Stock
Do not expect a recovery in Ocugen 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. However, even from this limited vantage point, OCGN appears destined to fail.
Ocugen Stock Is Dying for a Reason
One of the main reasons why small biotech firms are so volatile is because they have their eggs in one basket. Typically, they’ll have either a single or very few viable therapies. If they pass clinical trials, their shares can soar. Or, they become a buyout target by a big pharmaceutical company.
Look for Another Gamble
As someone who takes a more speculative approach to investing, I’m not against others following suit. But there’s a difference between gambling and being stupid with your money.
What happened?
Shares of Ocugen (NASDAQ: OCGN) are falling sharply on Wednesday and were down by 15% as of 12:27 p.m. EST after plunging by as much as 21.2% earlier today. The company did not report any news, but after the stock skyrocketed by about 80% on Tuesday, today's losses could be due to investors taking some profits after yesterday's furious rally.
So what
Yesterday, Ocugen announced a definitive deal to develop and commercialize Covaxin, a coronavirus vaccine candidate, with India-based Bharat Biotech. Ocugen will hold the rights to market Covaxin in the U.S. Investors reacted to the news with enthusiasm, but today is another day for Ocugen.
Now what
Despite the opportunity that presents itself to Ocugen in the U.S. COVID-19 vaccine market, none of the company's other candidates have even made it to a late-stage clinical trial yet. As such, this healthcare stock is a risky bet, and most investors should probably watch how things unfold from the sidelines.