On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. If Ocugen goes up, you can still profit. Unfortunately for longs, OCGN is much closer to the worst of conditions. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. 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. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. Typically, I care little about financials with biotechs. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. 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. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. 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 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. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. Click here to see what Matt has up his sleeve now. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. The Motley Fool->. Ocugen Inc. is a clinical stage biopharmaceutical company. That's not going to happen now. Accordingly, the analyst rates OCGN a Neutral (i.e. However, I wont be around to find out. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. Copyright 2023 InvestorPlace Media, LLC. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. To be sure, current cash isnt enough. The company initiated its Phase 3 trial of OCU300 back in July 2018. *Stock Advisor returns as of November 20, 2020. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. 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. The Motley Fool has a disclosure policy. All rights reserved. Companies will inevitably be optimistic about their prospects for success (at least publicly). Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Even at around 40 cents per share, I would consider Ocugen stock overvalued. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. Long-term debt of $1.6 million is not a back-breaker either. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. In this case, shares rallied about four-fold in just a few days. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. So far, that merger hasnt worked out for Histogenics former shareholders. 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. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. *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. Investors need to understand the risk profile here. While anything is possible, I would not anticipate a miracle here. However, even from this limited vantage point, OCGN appears destined to fail. 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. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). quotes delayed at least 15 minutes, all others at least 20 minutes. 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. 7 Travel Stocks to Buy Banking On Pent-Up Demand. Nasdaq Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Copyright 2023 InvestorPlace Media, LLC. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. The firm's modifier gene therapy platform is engaged in addressing retinal diseases, including retinitis pigmentosa, leber congenital amaurosis, and dry age-related macular degeneration. The Motley Fool has a disclosure policy. 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. If you missed that action, you missed all the gains. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). Start trading Options with Saxo today. That's right -- they think these 10 stocks are even better buys. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. Do Not Sell My Personal Information (CA Residents Only). 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! 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. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. In that list, you can even include penny-stock trader. 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. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. The stock had gained some traction after they announced the Ocugen merger in April. Copyright The average Ocugen stock price for the last 52 weeks is 2.10. That said, for investors who understand the potential downside, there is an intriguing story here. Sign up below to get this incredible offer! 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. Create your Watchlist to save your favorite quotes on Nasdaq.com. Still, Ocugens balance sheet isnt as dire as its share price might suggest. If they invent a miracle treatment for a condition, the money will find its way to the stock. This can prove to be a costly lesson to learn. ET on Friday. Making the world smarter, happier, and richer. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Investors were hopeful that the small drugmaker would be able to win U.S. But it does mean something. Do Not Sell My Personal Information (CA Residents Only). Nasdaq The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. 1125 N. Charles St, Baltimore, MD 21201. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. Ocugen estimates the drug could have as many as 63,000 potential patients. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). 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. Literally, zero. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. You canfollow Will on Twitterat @HealyWriting. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. 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. These options will be cheaper than owning the stock itself. 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. Here are three prudent steps to take. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. 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 . All rights reserved. (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. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. 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. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. What should investors do now? Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. Matt McCall and the InvestorPlace Research Staff, statistics support having long-term exposure, Click here to see what Matt has up his sleeve now, There Are So Many Stocks to Buy Ocugen Isnt One of Them. Plus500. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. 2023 InvestorPlace Media, LLC. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. 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. Cost basis and return based on previous market day close. 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. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. However, when that occurred, Ocugen stock lost most of its value. The latest closing stock price for Ocugen as of March 03, 2023 is. 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. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. However, due to the fact the details of the definitive agreement have yet to be finalized, in addition to the current lack of insight into the U.S. regulatory pathway or commercial strategy, Ramakanth stays on the sidelines for now. The Motley Fool has no position in any of the stocks mentioned. CanSinoBio will be able to fund much of the development of OCU300, Ocugens flagship product that targets oGVHD (ocular graft versus host disease), a common complication of bone marrow transplants. Emergency Use . The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. 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. Other than an emphasis on cell therapies, the companies had almost nothing in common. The potential synergies of such a union do not seem clear. The content is intended to be used for informational purposes only. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Part of the proceeds will be used to support its partnership with Bharat. 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. 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! A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. See disclosure here. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. 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. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. It is very important to do your own analysis before making any investment. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). The company stated that it will pursue a path to file for full FDA approval of Covaxin. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. Theres even room for more lines. Thats the thing with these low-priced penny stocks. These symbols will be available throughout the site during your session. Copyright It has real management. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. 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. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. Guys, theres no revenue here! 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." Ill be sticking to the stocks that are actually working. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. There's still a chance that the vaccine could receive a green light in Canada. 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.. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. A $30 million market capitalization doesnt mean Ocugen has no chance. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The short answer is: everything. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. As of this writing, Vince Martin has no positions in any securities mentioned. However, sometimes the optimism isn't justified. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. As of this writing, Matt did not hold a position in any of theaforementioned securities. Keith Speights has no position in any of the stocks mentioned. Can you feel the ground moving beneath your feet? The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Honestly, OCGN stock is unlikely to survive. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Type a symbol or company name. The chances of anything more are small but the rewards could be huge. 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. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. To make the world smarter, happier, and richer. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. 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. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. 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. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. But realizing value in practice usually is a difficult endeavor. All rights reserved. Written by The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. Our 3 Top Picks. The odds of Ocugen stock winding up at zero are material. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Admittedly one could argue that it could have been bought for a quarter and sold for 75 cents, but hindsight is 20/20 in all of these names. Investors who have owned stocks in the last year have generally experienced some big gains. From a near-term standpoint, there are two key risks. Custom BMW. It brings in no revenue. Keith Speights for What Is the Best EV Stock to Buy Now? Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials.
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