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Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. 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 overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. 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. 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 OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. Ocugen Inc. is a clinical stage biopharmaceutical company. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. Nasdaq Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. Guys, theres no revenue here! Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. 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? As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. 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. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. Not an offer or recommendation by Stocktwits. 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. Even before that point, the most promising candidates generally can find funding. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. Investors should worry about companies with no revenue even under the best of circumstances. Accordingly, the analyst rates OCGN a Neutral (i.e. Even at around 40 cents per share, I would consider Ocugen stock overvalued. 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. The Ocugen deal is a way to salvage some limited value. For priority reviews, the timeline for an approval decision is reduced to six months. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. 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." Still, Ocugens balance sheet isnt as dire as its share price might suggest. This can prove to be a costly lesson to learn. The latest closing stock price for Ocugen as of March 03, 2023 is. 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. *Average returns of all recommendations since inception. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. These symbols will be available throughout the site during your session. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. 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. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. Theres even room for more lines. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. 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. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. To make the world smarter, happier, and richer. But realizing value in practice usually is a difficult endeavor. Without NeoCart, that burn likely comes down. market." Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. 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. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. Ocugen sold $25 million of stock in a private placement before the merger. Type a symbol or company name. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. The Motley Fool->. The equity has experienced a continual decline for years. Please check your download folder. That's right -- they think these 10 stocks are even better buys. Instead of buying a piece of the S&P 500 or Nasdaq or even better, a common sense mega-holding like Apple (NASDAQ:AAPL) or Amazon investors in OCGN stock took on a high-risk investment and for months saw negative returns. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). What should investors do now? Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. Other than an emphasis on cell therapies, the companies had almost nothing in common. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. ET on Friday. quotes delayed at least 15 minutes, all others at least 20 minutes. You canfollow Will on Twitterat @HealyWriting. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). 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. Type a symbol or company name. Investors who have owned stocks in the last year have generally experienced some big gains. So far, that merger hasnt worked out for Histogenics former shareholders. Please check your download folder. So, what goes wrong? Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. *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. These options will be cheaper than owning the stock itself. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. Our 3 Top Picks. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. Investors were hopeful that the small drugmaker would be able to win U.S. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. Conditions have only become worse since that time. However, when that occurred, Ocugen stock lost most of its value. Copyright The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. Copyright 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. Do Not Sell My Personal Information (CA Residents Only). What Is the Best EV Stock to Buy Now? (See OCGN stock analysis on TipRanks). 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. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. Emergency Use . Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. But if they do, Ocugen stock at the least looks like an intriguing bet. 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. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. All rights reserved. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. 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. Keith Speights for You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. The stock had gained some traction after they announced the Ocugen merger in April. Histogenics itself highlights the risks involved in small-cap biotech. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. 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. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. 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. 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. 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. That's not going to happen now. 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! Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. 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. 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. Cost basis and return based on previous market day close. 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." Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. 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. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. This decision. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. The potential synergies of such a union do not seem clear. 2023 InvestorPlace Media, LLC. As of this writing, Matt did not hold a position in any of theaforementioned securities. Our 3 Top Picks. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. From a near-term standpoint, there are two key risks. The second is that the balance sheet still needs some help. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. 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. Maybe. Ocugen isnt a promotional, fly-by-night penny stock. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. Its all about choice. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. The short answer is: everything. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. 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. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. 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. These symbols will be available throughout the site during your session. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 1125 N. Charles St, Baltimore, MD 21201. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. Keith Speights has no position in any of the stocks mentioned. All rights reserved. Nasdaq 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. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. 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. 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.. It has real management. Part of the proceeds will be used to support its partnership with Bharat. The company stated that it will pursue a path to file for full FDA approval of Covaxin. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. 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 . Keith Speights for 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. 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 statistics support having long-term exposure to this asset class. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Ocugen estimates the drug could have as many as 63,000 potential patients. At the time, Ocugen was left for dead. As of this writing, Vince Martin has no positions in any securities mentioned. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. It has no treatments to offer the market. 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. To find good ideas for coronavirus stocks trading at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that unites all of TipRanks equity insights. Pricing likely would be favorable, given the lack of alternative treatments. 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. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. The chances of anything more are small but the rewards could be huge. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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 has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. See disclosure here. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. Thats the thing with these low-priced penny stocks. However, sometimes the optimism isn't justified. (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. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. Investors need to understand the risk profile here. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. 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. *Stock Advisor returns as of June 7, 2021. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. 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. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. Making the world smarter, happier, and richer. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. Copy and paste multiple symbols separated by spaces. What Is the Best EV Stock to Buy Now? 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I.