Our 3 Top Picks. What Is the Best EV Stock to Buy Now? Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. 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." Typically, I care little about financials with biotechs. *Stock Advisor returns as of November 20, 2020. Keith Speights has no position in any of the stocks mentioned. 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. And its at least possible that OCGN could wind up being a winner. Copyright Even at around 40 cents per share, I would consider Ocugen stock overvalued. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. All rights reserved. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. But the allure of the space is that when a company wins, its shareholders win big. The second is that the balance sheet still needs some help. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. Its certainly possible. 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 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. While anything is possible, I would not anticipate a miracle here. The short answer is: everything. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. 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. How can we possibly evaluate a stock on a fundamental basis with that being reality? First, the balance sheet is in at least decent shape. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. 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.. Ocugen isnt a promotional, fly-by-night penny stock. The Ocugen deal is a way to salvage some limited value. It is very important to do your own analysis before making any investment. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Start trading Options with Saxo today. Sign up below to get this incredible offer! The Motley Fool has no position in any of the stocks mentioned. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. At the time, Ocugen was left for dead. 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 company has no revenue, runs an annual deficit, and does not generate positive free cash flow. The Motley Fool->. It has real products. There's still a chance that the vaccine could receive a green light in Canada. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. 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. 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? Plus500. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. For investors new to the story, there are some positives when it comes to OCGN stock. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. It means that raising capital will be more difficult going forward. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. The stock had gained some traction after they announced the Ocugen merger in April. The Motley Fool has a disclosure policy. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. Here are three prudent steps to take. That's right -- they think these 10 stocks are even better buys. market." In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. All rights reserved. Histogenics itself highlights the risks involved in small-cap biotech. Create your Watchlist to save your favorite quotes on Nasdaq.com. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. 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. 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! It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. 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. Pricing likely would be favorable, given the lack of alternative treatments. 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. Source: Chart courtesy of StockCharts.com. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. This decision. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. Type a symbol or company name. Theres an opportunity here. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. A $30 million market capitalization doesnt mean Ocugen has no chance. 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. 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! 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. It has real management. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. Ocugen. 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. 7 Travel Stocks to Buy Banking On Pent-Up Demand. Investing is always a game of balancing risk and reward. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. To be sure, current cash isnt enough. Thats the thing with these low-priced penny stocks. 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. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. 2023 InvestorPlace Media, LLC. 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. Written by Even before that point, the most promising candidates generally can find funding. See disclosure here. Investors who have owned stocks in the last year have generally experienced some big gains. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. That's not going to happen now. That doesnt mean success is guaranteed. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. But any success they find will be without me as a shareholder. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Maybe OCGN stock will be one of them again. Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. 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." Custom BMW. Can you feel the ground moving beneath your feet? Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. Conditions have only become worse since that time. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Type a symbol or company name. From a near-term standpoint, there are two key risks. However, I wont be around to find out. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. 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. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. That said, for investors who understand the potential downside, there is an intriguing story here. But it does mean something. It means that institutional investors focused on the sector largely have passed on the pipeline. All rights reserved. Bharat Biotech has a history of successful vaccine commercialization in South Asia. The stock had gained some traction after they announced the. Companies will inevitably be optimistic about their prospects for success (at least publicly). 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. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. 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. Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. Keith Speights owns shares of Pfizer. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. 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. 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. quotes delayed at least 15 minutes, all others at least 20 minutes. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. 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. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. 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.. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). The Motley Fool has a disclosure policy. 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. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. Long-term debt of $1.6 million is not a back-breaker either. Written by The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. These options will be cheaper than owning the stock itself. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. It's hard to say for sure. 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. 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. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. If OCU300 is approved, theres a reasonably large market. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. 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 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. At the beginning of 2020, Ocugen shares were trading at just 47 cents. Ocugen had to go an unusual route to go public. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. 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. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. Invest better with The Motley Fool. 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. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. Without NeoCart, that burn likely comes down. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. For now, though, what happens in India stays in India. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. CanSinoBio will be able to fund much of the development of OCU300, Ocugens flagship product that targets oGVHD (ocular graft versus host disease), a common complication of bone marrow transplants. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. Part of the proceeds will be used to support its partnership with Bharat. 2023 InvestorPlace Media, LLC. You never know when they will suddenly go on a squeeze. 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 company stated that it will pursue a path to file for full FDA approval of Covaxin. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. If you missed that action, you missed all the gains. Honestly, OCGN stock is unlikely to survive. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks.