Even before that point, the most promising candidates generally can find funding. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. It has no treatments to offer the market. Is Ocugen Stock Still Worth Buying After Its 800%-Plus Rally? Analyst This requires no immediate effort on your part. (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. Events - Ocugen Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. 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. For now, though, what happens in India stays in India. It's hard to say for sure. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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 company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. The biotech stock promptly crashed by more than 30%. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. 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. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. Its worth emphasizing: Ocugen stock is a play with enormous risk. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. Investors were hopeful that the small drugmaker would be able to win U.S. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. But if they do, Ocugen stock at the least looks like an intriguing bet. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. Lorem ipsum dolor sit amet, consectetur adipiscing elit. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. If they have solid financials, but their trials continually fail, they will likely not succeed. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. 7 Travel Stocks to Buy Banking On Pent-Up Demand. However, sometimes the optimism isn't justified. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) 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. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. Why Ocugen Stock Is Crashing Today | The Motley Fool - Nasdaq But there is no question some big-name stocks performed better than others along the way. 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. market." Ocugen Inc. is a clinical stage biopharmaceutical company. 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 worst news was that another late-stage clinical study will likely be required to support the regulatory filing. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. Accordingly, the analyst rates OCGN a Neutral (i.e. Ocugen Inc. Announces Closing of $100 Million Registered *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. Ocugen stock jumps following positive Covid vaccine study results The Motley Fool has no position in any of the stocks mentioned. 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. 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. 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 company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. 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. 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 reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. 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. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. 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. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. So far, that merger hasnt worked out for Histogenics former shareholders. The chances of anything more are small but the rewards could be huge. I will concede this: The one great thing about the stock market is there is a style for everyone. 2023 InvestorPlace Media, LLC. Its all about choice. Ocugen Stock Is Not for the Faint of Heart - InvestorPlace 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. 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. 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. These symbols will be available throughout the site during your session. Under the terms of the agreement, Ocugen is entitled to 45% of the profits from the commercialization of Covaxin in the U.S. and Canada. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. Ocugen Stock Crashes: What Should Investors Do Now? Bharat Biotech has a history of successful vaccine commercialization in South Asia. All rights reserved. Source: Chart courtesy of StockCharts.com. (See OCGN stock analysis on TipRanks). 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. Ocugen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Honestly, OCGN stock is unlikely to survive. The FDA's decision not to issue EUA really wasn't all that surprising, though. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. 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. Don't Get Greedy With Ocugen Stock, Says Analyst See disclosure here. Guys, theres no revenue here! Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. If you missed that action, you missed all the gains. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. It has real management. In that list, you can even include penny-stock trader. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. The median estimate. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. 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. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. Our 3 Top Picks. That's not going to happen now. *Stock Advisor returns as of November 20, 2020. 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? Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. Ocugen does have at least 180 days to cure that problem, but the simplest answer is for the company to execute a reverse stock split. Lorem ipsum dolor sit amet, consectetur adipiscing elit. In this case, shares rallied about four-fold in just a few days. Copyright 2023 InvestorPlace Media, LLC. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. It brings in no revenue. Pricing likely would be favorable, given the lack of alternative treatments. 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. How long might it take for Ocugen to win full FDA approval for Covaxin? The $25 million private placement executed before the merger brought in much-needed cash. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. Our 3 Top Picks. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. To be sure, current cash isnt enough. Theres even room for more lines. As of this writing, Matt did not hold a position in any of theaforementioned securities. There Are So Many Stocks to Buy Ocugen Isn't One of Them Please check your download folder. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. What Is the Best EV Stock to Buy Now? 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. Ocugen estimates the drug could have as many as 63,000 potential patients. 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. 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. 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? With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. That doesnt mean success is guaranteed. The statistics support having long-term exposure to this asset class. Ocugen completes $100M stock sale as it works with Bharat Biotech on Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. The Motley Fool has a disclosure policy. 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. 2023 InvestorPlace Media, LLC. For investors new to the story, there are some positives when it comes to OCGN stock. This can prove to be a costly lesson to learn. 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. However, even from this limited vantage point, OCGN appears destined to fail. These symbols will be available throughout the site during your session. From a near-term standpoint, there are two key risks. To make the world smarter, happier, and richer. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. Most biotech companies have intriguing stories on paper; Ocugen is no different. Investors should worry about companies with no revenue even under the best of circumstances. The Ocugen deal is a way to salvage some limited value. Maybe. Written by Create your Watchlist to save your favorite quotes on Nasdaq.com. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. Copyright Even though Ocugen did raise $25 million in a private placement, the story behind OCU300 clearly was not enough to support an initial public offering on its own. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. quotes delayed at least 15 minutes, all others at least 20 minutes. The content is intended to be used for informational purposes only. Ocugen had to go an unusual route to go public. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. Theres an opportunity here. However, I wont be around to find out. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Part of the proceeds will be used to support its partnership with Bharat. The Motley Fool recommends Moderna Inc. 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. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. 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. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. If You Invested $1,000 In Ocugen Stock One Year Ago, Here's - Insider This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. First, the balance sheet is in at least decent shape. Even at around 40 cents per share, I would consider Ocugen stock overvalued. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. 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 isnt a promotional, fly-by-night penny stock. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. 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 company stated that it will pursue a path to file for full FDA approval of Covaxin. At the beginning of 2020, Ocugen shares were trading at just 47 cents. 1125 N. Charles St, Baltimore, MD 21201. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. With No Revenue or Approved Treatments, Ocugen Stock Is a - Insider Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. Click here to see what Matt has up his sleeve now. Without NeoCart, that burn likely comes down. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. The latest closing stock price for Ocugen as of March 03, 2023 is. There's still a chance that the vaccine could receive a green light in Canada. All rights reserved. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. The Motley Fool has no position in any of the stocks mentioned. 1125 N. Charles St, Baltimore, MD 21201. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. But the allure of the space is that when a company wins, its shareholders win big. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. 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. Do Not Sell My Personal Information (CA Residents Only). Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. Learn More. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. But any success they find will be without me as a shareholder. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. Create your Watchlist to save your favorite quotes on Nasdaq.com. Axsome Therapeutics (NASDAQ:AXSM) had an equity value below $75 million in March 2017; its now worth over $3 billion after rising over 1,000% last year. While anything is possible, I would not anticipate a miracle here. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. Plus500. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. The potential synergies of such a union do not seem clear. Thats the thing with these low-priced penny stocks. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. Investors were hopeful that the small drugmaker would be able to win U.S. 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. Invest better with The Motley Fool. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. 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. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). Custom BMW #youtube #moto #motorcycle #bike #youtubeshorts #shorts Still, Ocugens balance sheet isnt as dire as its share price might suggest. The stock had gained some traction after they announced the. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Instead, this appears destined to join the long list of failed biotech startups. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. Conditions have only become worse since that time. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. Theres even room for more lines. That product drives the current bull case for Ocugen stock. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. 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! The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. Custom BMW. These options will be cheaper than owning the stock itself. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. Typically, I care little about financials with biotechs. Unfortunately for longs, OCGN is much closer to the worst of conditions. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Sign up below to get this incredible offer! You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. It means that institutional investors focused on the sector largely have passed on the pipeline. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Please check your download folder. The Motley Fool has a disclosure policy.
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