Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. But it does mean something. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. Ocugen sold $25 million of stock in a private placement before the merger. If OCU300 is approved, theres a reasonably large market. Cost basis and return based on previous market day close. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. Ocugen. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. The stock had gained some traction after they announced the. That's right -- they think these 10 stocks are even better buys. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Honestly, OCGN stock is unlikely to survive. The second is that the balance sheet still needs some help. 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. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. What Is the Best EV Stock to Buy Now? Those lessons will vary between different investors, but I'll point out a major one to keep in mind. 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. Ill be sticking to the stocks that are actually working. Thats the thing with these low-priced penny stocks. It brings in no revenue. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. 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. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. Its all about choice. 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. 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. Other than an emphasis on cell therapies, the companies had almost nothing in common. Keith Speights has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. The Motley Fool recommends Moderna Inc. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. 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. 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. Invest better with The Motley Fool. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. 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 Inc. is a clinical stage biopharmaceutical company. 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. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. From a near-term standpoint, there are two key risks. quotes delayed at least 15 minutes, all others at least 20 minutes. 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. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. These symbols will be available throughout the site during your session. The Ocugen deal is a way to salvage some limited value. Instead, this appears destined to join the long list of failed biotech startups. 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. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. 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. 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. However, even from this limited vantage point, OCGN appears destined to fail. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. All rights reserved. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. 1125 N. Charles St, Baltimore, MD 21201. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). The average Ocugen stock price for the last 52 weeks is 2.10. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. 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. Histogenics itself highlights the risks involved in small-cap biotech. 1125 N. Charles St, Baltimore, MD 21201. 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. Emergency Use . Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. 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 FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Do not expect a recovery in Ocugen stock. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. So far, that merger hasnt worked out for Histogenics former shareholders. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). 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. The Motley Fool has a disclosure policy. Companies will inevitably be optimistic about their prospects for success (at least publicly). The potential synergies of such a union do not seem clear. For investors new to the story, there are some positives when it comes to OCGN stock. The FDA's decision not to issue EUA really wasn't all that surprising, though. It means that institutional investors focused on the sector largely have passed on the pipeline. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Theres even room for more lines. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. The median estimate. 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? 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 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 7 Travel Stocks to Buy Banking On Pent-Up Demand. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. Like other life sciences companies involved in Covid-19 vaccine. See disclosure here. Please check your download folder. 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? A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. 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." 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. So, what goes wrong? 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 . The Motley Fool has no position in any of the stocks mentioned. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. First, the balance sheet is in at least decent shape.
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