The content is intended to be used for informational purposes only. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. 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. As of this writing, Vince Martin has no positions in any securities mentioned. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. What should investors do now? Do Not Sell My Personal Information (CA Residents Only). Type a symbol or company name. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. To be sure, current cash isnt enough. 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! In that list, you can even include penny-stock trader. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. 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. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. Investors were hopeful that the small drugmaker would be able to win U.S. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. The biotech stock promptly crashed by more than 30%. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. Sign up below to get this incredible offer! The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. Thats the thing with these low-priced penny stocks. Nasdaq Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. 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. Concerns about the delta variant, the potential need for annual booster shots and the possibility of expanding the vaccines to children have investors hopeful that Covaxin will still eventually be a huge payoff for Ocugen. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. Copyright The S&P 500 has rallied 52.9% from the March low to its highs on August 6. 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. Part of the proceeds will be used to support its partnership with Bharat. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. 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.. For investors new to the story, there are some positives when it comes to OCGN stock. 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. 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. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. The next key catalyst for the biotech stock could be the announcement of the details of the plan to win EUA for Covaxin in the U.S. market. 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 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." Copy and paste multiple symbols separated by spaces. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. 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. Long-term debt of $1.6 million is not a back-breaker either. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. 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. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. (See OCGN stock analysis on TipRanks). However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. Guys, theres no revenue here! Ocugen estimates the drug could have as many as 63,000 potential patients. When the market crashed during the U.S. pandemic outbreak in March, shares of vaccine makers understandably soared as work began on developing vaccines to fight COVID-19. It means that raising capital will be more difficult going forward. As of this writing, Matt did not hold a position in any of theaforementioned securities. 2023 InvestorPlace Media, LLC. Unfortunately for longs, OCGN is much closer to the worst of conditions. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. 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. 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 Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. 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. *Average returns of all recommendations since inception. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. Do Not Sell My Personal Information (CA Residents Only). Most biotech companies have intriguing stories on paper; Ocugen is no different. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. The stock had gained some traction after they announced the. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Not an offer or recommendation by Stocktwits. Honestly, OCGN stock is unlikely to survive. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. This decision. Hold) without suggesting a price target. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. All rights reserved. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. Copyright 2023 InvestorPlace Media, LLC. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). Histogenics itself highlights the risks involved in small-cap biotech. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. Copyright 2023 InvestorPlace Media, LLC. Investors need to understand the risk profile here. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. 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. Can you feel the ground moving beneath your feet? 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? Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. Theres an opportunity here. Create your Watchlist to save your favorite quotes on Nasdaq.com. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). At the beginning of 2020, Ocugen shares were trading at just 47 cents. The chances of anything more are small but the rewards could be huge. 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. Please check your download folder. The short answer is: everything. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. 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. 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. Learn More. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. That product drives the current bull case for Ocugen stock. And its at least possible that OCGN could wind up being a winner. 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. It brings in no revenue. Keith Speights for How can we possibly evaluate a stock on a fundamental basis with that being reality? The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. For now, though, what happens in India stays in India. quotes delayed at least 15 minutes, all others at least 20 minutes. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. 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. Plus500. It has real products. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. If OCU300 is approved, theres a reasonably large market. *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. Type a symbol or company name. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Here are three prudent steps to take. The equity has experienced a continual decline for years. 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. That's right -- they think these 10 stocks are even better buys. 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. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. 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. A $30 million market capitalization doesnt mean Ocugen has no chance. Its all about choice. 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. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Even before that point, the most promising candidates generally can find funding. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. That's not going to happen now. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. Our 3 Top Picks. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. The Motley Fool has a disclosure policy. 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. Instead, this appears destined to join the long list of failed biotech startups. But if they do, Ocugen stock at the least looks like an intriguing bet. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. Ocugen Inc. is a clinical stage biopharmaceutical company. 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. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. 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. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. Written by Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. The second is that the balance sheet still needs some help. 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. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. 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. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. Unfortunately for investors, the U.S. FDA did not grant Covaxin an Emergency Use Authorization and instead recommended in June that Ocugen opt for a Biologic License Application that will likely require additional Phase 3 testing. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. 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. That said, for investors who understand the potential downside, there is an intriguing story here. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. ET on Friday. 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. The Motley Fool->. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. Our 3 Top Picks. Theres even room for more lines. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. (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. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. That's right -- they think these 10 stocks are even better buys. The Motley Fool has no position in any of the stocks mentioned. The company stated that it will pursue a path to file for full FDA approval of Covaxin. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. Pricing likely would be favorable, given the lack of alternative treatments. Invest better with The Motley Fool. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. 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." It is very important to do your own analysis before making any investment. 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. All rights reserved. Investors who have owned stocks in the last year have generally experienced some big gains. Typically, I care little about financials with biotechs. Click here to see what Matt has up his sleeve now. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. But any success they find will be without me as a shareholder. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. The median estimate. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. Keith Speights owns shares of Pfizer. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. Even at around 40 cents per share, I would consider Ocugen stock overvalued. Type a symbol or company name. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. I am all for a good opportunity, but I dont know why some investors insist on penny stocks.
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