How can we possibly evaluate a stock on a fundamental basis with that being reality? It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. The statistics support having long-term exposure to this asset class. 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. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. 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. Copy and paste multiple symbols separated by spaces. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. The median estimate. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. But realizing value in practice usually is a difficult endeavor. (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. Copyright On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. Part of the proceeds will be used to support its partnership with Bharat. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. 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. Its worth emphasizing: Ocugen stock is a play with enormous risk. Our 3 Top Picks. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. Instead, this appears destined to join the long list of failed biotech startups. The $25 million private placement executed before the merger brought in much-needed cash. In this case, shares rallied about four-fold in just a few days. 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." Hold) without suggesting a price target. The Motley Fool has a disclosure policy. 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 . These symbols will be available throughout the site during your session. 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. And its at least possible that OCGN could wind up being a winner. 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. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. 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. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. 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. The company stated that it will pursue a path to file for full FDA approval of Covaxin. Click here to see what Matt has up his sleeve now. This decision. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. 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. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. 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. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. 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.. 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. These options will be cheaper than owning the stock itself. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. 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. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Plus500. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. The Motley Fool has no position in any of the stocks mentioned. However, when that occurred, Ocugen stock lost most of its value. It has no treatments to offer the market. Keith Speights has no position in any of the stocks mentioned. Honestly, OCGN stock is unlikely to survive. 1125 N. Charles St, Baltimore, MD 21201. In that list, you can even include penny-stock trader. Even before that point, the most promising candidates generally can find funding. 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. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. Considering Bharats reputation for world-class R&D and manufacturing capabilities in vaccines and bio-therapeutics, H.C. Wainwright analyst Swayampakula Ramakanth thinks the company is a suitable partner.. The Ocugen deal is a way to salvage some limited value. market." A $30 million market capitalization doesnt mean Ocugen has no chance. Still, Ocugens balance sheet isnt as dire as its share price might suggest. The latest closing stock price for Ocugen as of March 03, 2023 is. Type a symbol or company name. The FDA's decision not to issue EUA really wasn't all that surprising, though. I will concede this: The one great thing about the stock market is there is a style for everyone. While anything is possible, I would not anticipate a miracle here. Learn More. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Unfortunately for longs, OCGN is much closer to the worst of conditions. How long might it take for Ocugen to win full FDA approval for Covaxin? But any success they find will be without me as a shareholder. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. 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. Thats the thing with these low-priced penny stocks. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. Its certainly possible. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. By the beginning of March, the stock was still trading at 45 cents as news of the coronavirus spreading in China prompted concerns about a U.S. pandemic. quotes delayed at least 15 minutes, all others at least 20 minutes. It is very important to do your own analysis before making any investment. The Motley Fool->. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. Written by A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. The reverse merger with Histogenics was a disappointment, but the purchase price for the NeoCart intellectual property suggests that company had little chance of survival on its own. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. The broad point here is that, even with a ~$30 million market capitalization (based on updated share count information disclosed in an 8-K filing on Dec. 9), this is a company with a legitimate opportunity. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. Type a symbol or company name. Sign up below to get this incredible offer! Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Companies will inevitably be optimistic about their prospects for success (at least publicly). 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. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. This requires no immediate effort on your part. Ocugen isnt a promotional, fly-by-night penny stock. Can you feel the ground moving beneath your feet? From a near-term standpoint, there are two key risks. 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 That doesnt mean success is guaranteed. It has real products. Keith Speights for It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Type a symbol or company name. 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. 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. Long-term debt of $1.6 million is not a back-breaker either. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. Investors were hopeful that the small drugmaker would be able to win U.S. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. But just because a company does not have crippling debt doesnt mean its a buy. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. 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! However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. 1125 N. Charles St, Baltimore, MD 21201. Sign up below to get this incredible offer! 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. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Create your Watchlist to save your favorite quotes on Nasdaq.com. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. The second is that the balance sheet still needs some help. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. Not an offer or recommendation by Stocktwits. All rights reserved. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. 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. Making the world smarter, happier, and richer. Without NeoCart, that burn likely comes down. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Copyright 2023 InvestorPlace Media, LLC. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. quotes delayed at least 15 minutes, all others at least 20 minutes. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. There's still a chance that the vaccine could receive a green light in Canada. Start trading Options with Saxo today. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. What Is the Best EV Stock to Buy Now? 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. For investors new to the story, there are some positives when it comes to OCGN stock. As of this writing, Vince Martin has no positions in any securities mentioned. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Cost basis and return based on previous market day close. See disclosure here. The chances of anything more are small but the rewards could be huge. (See OCGN stock analysis on TipRanks). Custom BMW. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Investors need to understand the risk profile here. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. The content is intended to be used for informational purposes only. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 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