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. Do Not Sell My Personal Information (CA Residents Only). 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. 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 huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. 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. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. 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. (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. Invest better with The Motley Fool. Thats the thing with these low-priced penny stocks. For investors new to the story, there are some positives when it comes to OCGN stock. Sign up below to get this incredible offer! Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. Honestly, OCGN stock is unlikely to survive. 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 7 Travel Stocks to Buy Banking On Pent-Up Demand. 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.. Keith Speights owns shares of Pfizer. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. If they invent a miracle treatment for a condition, the money will find its way to the stock. 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Copyright 2023 InvestorPlace Media, LLC. But if they do, Ocugen stock at the least looks like an intriguing bet. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. But any success they find will be without me as a shareholder. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. Accordingly, the analyst rates OCGN a Neutral (i.e. Create your Watchlist to save your favorite quotes on Nasdaq.com. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Ill be sticking to the stocks that are actually working. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. 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. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. 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. Please check your download folder. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. Long-term debt of $1.6 million is not a back-breaker either. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. 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. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. While anything is possible, I would not anticipate a miracle here. 2023 InvestorPlace Media, LLC. 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 Motley Fool recommends Moderna Inc. However, even from this limited vantage point, OCGN appears destined to fail. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. All rights reserved. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Literally, zero. That product drives the current bull case for Ocugen stock. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. Click here to see what Matt has up his sleeve now. But there is no question some big-name stocks performed better than others along the way. 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. 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." The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. 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. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. 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. 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. Ocugen isnt a promotional, fly-by-night penny stock. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. Not an offer or recommendation by Stocktwits. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Part of the proceeds will be used to support its partnership with Bharat. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. Copyright Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. These options will be cheaper than owning the stock itself. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Type a symbol or company name. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. Custom BMW. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. 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. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. The Motley Fool->. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. That's right -- they think these 10 stocks are even better buys. 1125 N. Charles St, Baltimore, MD 21201. Keith Speights has no position in any of the stocks mentioned. What Is the Best EV Stock to Buy Now? Making the world smarter, happier, and richer. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. 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. There's still a chance that the vaccine could receive a green light in Canada. Keith Speights for You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. You never know when they will suddenly go on a squeeze. The latest closing stock price for Ocugen as of March 03, 2023 is. For priority reviews, the timeline for an approval decision is reduced to six months. The Ocugen deal is a way to salvage some limited value. However, I wont be around to find out. You canfollow Will on Twitterat @HealyWriting. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. In that list, you can even include penny-stock trader. All rights reserved. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. 1125 N. Charles St, Baltimore, MD 21201. Type a symbol or company name. That's right -- they think these 10 stocks are even better buys. 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! Investors need to understand the risk profile here. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. Do not expect a recovery in Ocugen stock. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. Ocugen Inc. is a clinical stage biopharmaceutical company. How can we possibly evaluate a stock on a fundamental basis with that being reality? The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. Even at around 40 cents per share, I would consider Ocugen stock overvalued. Bharat Biotech has a history of successful vaccine commercialization in South Asia. The biotech stock promptly crashed by more than 30%. 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. Unfortunately for longs, OCGN is much closer to the worst of conditions. Keith Speights has no position in any of the stocks mentioned. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. 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. Its worth emphasizing: Ocugen stock is a play with enormous risk. 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. Sign up below to get this incredible offer! The potential synergies of such a union do not seem clear. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. The chances of anything more are small but the rewards could be huge. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. 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. 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. If they have solid financials, but their trials continually fail, they will likely not succeed. From a near-term standpoint, there are two key risks. Conditions have only become worse since that time. Plus500. It means that raising capital will be more difficult going forward. 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. Can you feel the ground moving beneath your feet? The odds of Ocugen stock winding up at zero are material. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. 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. Still, Ocugens balance sheet isnt as dire as its share price might suggest. 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. Companies will inevitably be optimistic about their prospects for success (at least publicly). Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. Copyright Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. 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. 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. However, when that occurred, Ocugen stock lost most of its value. Start trading Options with Saxo today. That's not going to happen now. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. 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! Nasdaq The content is intended to be used for informational purposes only. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. 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 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. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. The Motley Fool has no position in any of the stocks mentioned. Ocugen. The Motley Fool has a disclosure policy. 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. But it does mean something. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. The Motley Fool has no position in any of the stocks mentioned. These symbols will be available throughout the site during your session. 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. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. Cost basis and return based on previous market day close.
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