However, I wont be around to find out. 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. 1125 N. Charles St, Baltimore, MD 21201. 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. What Is the Best EV Stock to Buy Now? 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. So far, that merger hasnt worked out for Histogenics former shareholders. But realizing value in practice usually is a difficult endeavor. The Motley Fool has no position in any of the stocks mentioned. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. Nasdaq If were playing that game then Im buying LEAP call options on Apple and Amazon in March. Here are three prudent steps to take. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Custom BMW. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. Like other life sciences companies involved in Covid-19 vaccine. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. Invest better with The Motley Fool. Keith Speights for Even at around 40 cents per share, I would consider Ocugen stock overvalued. Not an offer or recommendation by Stocktwits. 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. 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. Investors were hopeful that the small drugmaker would be able to win U.S. If they have solid financials, but their trials continually fail, they will likely not succeed. Investors who have owned stocks in the last year have generally experienced some big gains. But just because a company does not have crippling debt doesnt mean its a buy. Lorem ipsum dolor sit amet, consectetur adipiscing elit. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. However, when that occurred, Ocugen stock lost most of its value. 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 is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. Conditions have only become worse since that time. 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. 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. Source: Chart courtesy of StockCharts.com. 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 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. 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? 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! For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. 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. 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 sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. Even before that point, the most promising candidates generally can find funding. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. All rights reserved. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. Maybe. (See OCGN stock analysis on TipRanks). Guys, theres no revenue here! I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. This can prove to be a costly lesson to learn. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. Copyright That's not going to happen now. Type a symbol or company name. The statistics support having long-term exposure to this asset class. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. The Motley Fool has a disclosure policy. OCGN does not even appear to have an apparent reason to exist. Investing is always a game of balancing risk and reward. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. Please check your download folder. The latest closing stock price for Ocugen as of March 03, 2023 is. The $25 million private placement executed before the merger brought in much-needed cash. 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 Motley Fool recommends Moderna Inc. It has real management. 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. 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. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. The median estimate. 1125 N. Charles St, Baltimore, MD 21201. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. Theres even room for more lines. The equity has experienced a continual decline for years. For now, though, what happens in India stays in India. At the beginning of 2020, Ocugen shares were trading at just 47 cents. quotes delayed at least 15 minutes, all others at least 20 minutes. Ocugen isnt a promotional, fly-by-night penny stock. So, what goes wrong? Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. 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. See disclosure here. Maybe OCGN stock will be one of them again. Lorem ipsum dolor sit amet, consectetur adipiscing elit. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. In that list, you can even include penny-stock trader. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. These symbols will be available throughout the site during your session. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. 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 I will concede this: The one great thing about the stock market is there is a style for everyone. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Keith Speights has no position in any of the stocks mentioned. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. Type a symbol or company name. 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. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). These symbols will be available throughout the site during your session. It took Moderna roughly 10 months from the initiation of the late-stage study for its COVID-19 vaccine to the point where the company filed for full FDA approval. Its certainly possible. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. The content is intended to be used for informational purposes only. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. Companies will inevitably be optimistic about their prospects for success (at least publicly). Histogenics itself highlights the risks involved in small-cap biotech. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. 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. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. This decision. That said, for investors who understand the potential downside, there is an intriguing story here. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. 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 . Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. That's right -- they think these 10 stocks are even better buys. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. The stock had gained some traction after they announced the Ocugen merger in April. To make the world smarter, happier, and richer. 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. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. Ocugen sold $25 million of stock in a private placement before the merger. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. Part of the proceeds will be used to support its partnership with Bharat. 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. 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. If OCU300 is approved, theres a reasonably large market. The company initiated its Phase 3 trial of OCU300 back in July 2018. The stock had gained some traction after they announced the. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. That doesnt mean success is guaranteed. 2023 InvestorPlace Media, LLC. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The Motley Fool->. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. You canfollow Will on Twitterat @HealyWriting. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Still, Ocugens balance sheet isnt as dire as its share price might suggest. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. 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. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. The Motley Fool has a disclosure policy. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. But any success they find will be without me as a shareholder. It means that raising capital will be more difficult going forward. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Copyright 2023 InvestorPlace Media, LLC. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. 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. 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. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. The Motley Fool->. That product drives the current bull case for Ocugen stock. 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. ET on Friday. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. But there is no question some big-name stocks performed better than others along the way. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Ocugen had to go an unusual route to go public. 1125 N. Charles St, Baltimore, MD 21201. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. 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. 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. It has real products. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. 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. Long-term debt of $1.6 million is not a back-breaker either. The chances of anything more are small but the rewards could be huge. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. *Stock Advisor returns as of November 20, 2020. However, even from this limited vantage point, OCGN appears destined to fail. 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. The potential synergies of such a union do not seem clear. 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. Accordingly, the analyst rates OCGN a Neutral (i.e. 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. 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. 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." Plus500. First, the balance sheet is in at least decent shape. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. Create your Watchlist to save your favorite quotes on Nasdaq.com. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Other than an emphasis on cell therapies, the companies had almost nothing in common. Investors should worry about companies with no revenue even under the best of circumstances. Please check your download folder. The Motley Fool has no position in any of the stocks mentioned. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. The short answer is: everything. Its worth emphasizing: Ocugen stock is a play with enormous risk. Do Not Sell My Personal Information (CA Residents Only). market." Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. All rights reserved. Sign up below to get this incredible offer! Keith Speights has no position in any of the stocks mentioned. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. Keith Speights owns shares of Pfizer. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. 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.. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. A $30 million market capitalization doesnt mean Ocugen has no chance. As of this writing, Vince Martin has no positions in any securities mentioned. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. 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. 2023 InvestorPlace Media, LLC. Pricing likely would be favorable, given the lack of alternative treatments. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. 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.
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