However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Learn More. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. Ocugen Inc. is a clinical stage biopharmaceutical company. 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. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. 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. 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. 2023 InvestorPlace Media, LLC. 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. The Motley Fool has a disclosure policy. Create your Watchlist to save your favorite quotes on Nasdaq.com. Do Not Sell My Personal Information (CA Residents Only). The Ocugen deal is a way to salvage some limited value. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. 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. 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. Investing is always a game of balancing risk and reward. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. 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.. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. A $30 million market capitalization doesnt mean Ocugen has no chance. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. Ocugen sold $25 million of stock in a private placement before the merger. Click here to see what Matt has up his sleeve now. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. Part of the proceeds will be used to support its partnership with Bharat. 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. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. The stock had gained some traction after they announced the. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. 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. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. *Average returns of all recommendations since inception. Cost basis and return based on previous market day close. 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 Motley Fool->. Gw pharmaceuticals stock dividends will nike stock split soon 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. What Is the Best EV Stock to Buy Now? Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. OCGN Stock Forecast 2022 and 2025: Is Ocugen Set to Explode? Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. If You Invested $1,000 In Ocugen Stock One Year Ago, Here's - Insider Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. 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. It has no treatments to offer the market. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 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. OCGN does not even appear to have an apparent reason to exist. Please check your download folder. Source: Chart courtesy of StockCharts.com. As of this writing, Vince Martin has no positions in any securities mentioned. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). Type a symbol or company name. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Do not expect a recovery in Ocugen stock. Ocugen Inc Stock - OCGN Share Price Today, News and Discussion - Stocktwits Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. There's still a chance that the vaccine could receive a green light in Canada. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. 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 average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. 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. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. All rights reserved. All rights reserved. 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. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). How can we possibly evaluate a stock on a fundamental basis with that being reality? The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. 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. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. Sign up below to get this incredible offer! For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. The risk-reward proposition for Ocugen is obviously much different now than it was when individuals were buying the stock over the last several months. OCGN Stock Price | Ocugen Inc. Stock Quote (U.S.: Nasdaq) - MarketWatch 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. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. That's right -- they think these 10 stocks are even better buys. Keith Speights for Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. 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. 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. In that list, you can even include penny-stock trader. Written by Ocugen - Stock Price History | OCGN | MacroTrends It is very important to do your own analysis before making any investment. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives.
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