Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. Theres an opportunity here. 1125 N. Charles St, Baltimore, MD 21201. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. The Motley Fool has a disclosure policy. 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. Ocugen completes $100M stock sale as it works with Bharat Biotech on ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. If they invent a miracle treatment for a condition, the money will find its way to the stock. Investors were hopeful that the small drugmaker would be able to win U.S. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. The equity has experienced a continual decline for years. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Ocugen Inc. is a clinical stage biopharmaceutical company. See disclosure here. Investors were hopeful that the small drugmaker would be able to win U.S. But just because a company does not have crippling debt doesnt mean its a buy. But realizing value in practice usually is a difficult endeavor. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Do not expect a recovery in Ocugen stock. (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. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. Emergency Use . 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. As of this writing, Matt did not hold a position in any of theaforementioned securities. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Can you feel the ground moving beneath your feet? The Ocugen deal is a way to salvage some limited value. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Other than an emphasis on cell therapies, the companies had almost nothing in common. Even before that point, the most promising candidates generally can find funding. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. How can we possibly evaluate a stock on a fundamental basis with that being reality? Ocugen. It has real management. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. The Motley Fool has no position in any of the stocks mentioned. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Keith Speights for 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. In December, Ocugen stated that it had put together an advisory board of "leading academic and industry experts to evaluate the clinical and regulatory path to approval in the U.S. However, when that occurred, Ocugen stock lost most of its value. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. 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. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. All rights reserved. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. In that list, you can even include penny-stock trader. Invest better with The Motley Fool. 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. What Is the Best EV Stock to Buy Now? After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. The Motley Fool recommends Moderna Inc. Theres even room for more lines. There's still a chance that the vaccine could receive a green light in Canada. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. Is Ocugen Stock Still Worth Buying After Its 800%-Plus Rally? Analyst To be sure, current cash isnt enough. 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 worst news was that another late-stage clinical study will likely be required to support the regulatory filing. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. How long might it take for Ocugen to win full FDA approval for Covaxin? Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. Why Ocugen Stock Dropped Today | The Motley Fool - Nasdaq You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Copyright 2023 InvestorPlace Media, LLC. The short answer is: everything. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. 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. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. Ocugen: Peripheral Scandals Taint This Expired COVID-19 'Me-Too' Longshot In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. 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. From a near-term standpoint, there are two key risks. The median estimate. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. Without NeoCart, that burn likely comes down. Ocugen announced in late Decemberit had signed a letter of intent to co-develop COVID-19 vaccine candidate Covaxin along with Indian pharmaceutical company Bharat Biotech. The Motley Fool->. The FDA's decision not to issue EUA really wasn't all that surprising, though. 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. Start trading Options with Saxo today. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. Like other life sciences companies involved in Covid-19 vaccine. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. Do Not Sell My Personal Information (CA Residents Only). Keith Speights for Don't Get Greedy With Ocugen Stock, Says Analyst Thats why we give you a wide range of Options on stocks, indices, commodities and FX. Type a symbol or company name.
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