Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. The Motley Fool has no position in any of the stocks mentioned. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. 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. Why Ocugen Stock Is Crushing It Today | Nasdaq After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. 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. Nasdaq 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. Without NeoCart, that burn likely comes down. The Motley Fool->. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. For investors new to the story, there are some positives when it comes to OCGN stock. That said, for investors who understand the potential downside, there is an intriguing story here. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Why Ocugen Stock Is Crashing Today | The Motley Fool - Nasdaq However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. 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. 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. 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 sold $25 million of stock in a private placement before the merger. 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. 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. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. 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. If you missed that action, you missed all the gains. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. All rights reserved. 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. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. Conditions have only become worse since that time. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. However, when that occurred, Ocugen stock lost most of its value. Even at around 40 cents per share, I would consider Ocugen stock overvalued. Ocugen had to go an unusual route to go public. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). But if they do, Ocugen stock at the least looks like an intriguing bet. Is Ocugen Stock Still Worth Buying After Its 800%-Plus Rally? Analyst The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. But any success they find will be without me as a shareholder. Ocugen stock jumps following positive Covid vaccine study results Those lessons will vary between different investors, but I'll point out a major one to keep in mind. Long-term debt of $1.6 million is not a back-breaker either. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. Plus500. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Copyright Our 3 Top Picks. 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. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. A $30 million market capitalization doesnt mean Ocugen has no chance. That's not going to happen now. market." If they have solid financials, but their trials continually fail, they will likely not succeed. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). Other than an emphasis on cell therapies, the companies had almost nothing in common. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. Can you feel the ground moving beneath your feet? Not an offer or recommendation by Stocktwits. If You Invested $1,000 In Ocugen Stock One Year Ago, Here's - Insider Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. Type a symbol or company name. These symbols will be available throughout the site during your session. Literally, zero. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. 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. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). Invest better with The Motley Fool. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. Gw pharmaceuticals stock dividends will nike stock split soon Investors were hopeful that the small drugmaker would be able to win U.S. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. Even before that point, the most promising candidates generally can find funding. Our 3 Top Picks. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. Investors were hopeful that the small drugmaker would be able to win U.S. We have provided a few examples below that you can copy and paste to your site: Your data 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. 1125 N. Charles St, Baltimore, MD 21201. Accordingly, the analyst rates OCGN a Neutral (i.e. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. You never know when they will suddenly go on a squeeze. *Average returns of all recommendations since inception. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. Custom BMW #youtube #moto #motorcycle #bike #youtubeshorts #shorts 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. At the time, Ocugen was left for dead. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. 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. The stock had gained some traction after they announced the. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Unfortunately for longs, OCGN is much closer to the worst of conditions. The $25 million private placement executed before the merger brought in much-needed cash. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. All rights reserved. OCGN Stock Price | Ocugen Inc. Stock Quote (U.S.: Nasdaq) - MarketWatch 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. 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. OCGN - Ocugen Inc Forecast - CNNMoney.com - CNN Business Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. Do Not Sell My Personal Information (CA Residents Only). Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. 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. However, even from this limited vantage point, OCGN appears destined to fail. While anything is possible, I would not anticipate a miracle here. 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. 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! The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. 2023 InvestorPlace Media, LLC. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. Theres an opportunity here. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. It's hard to say for sure. The potential synergies of such a union do not seem clear. It means that institutional investors focused on the sector largely have passed on the pipeline. OCGN | Ocugen Inc. Stock Price & News - WSJ Maybe OCGN stock will be one of them again. This decision. Guys, theres no revenue here! Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. I will concede this: The one great thing about the stock market is there is a style for everyone. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). Hold) without suggesting a price target. Bharat Biotech has a history of successful vaccine commercialization in South Asia. With No Revenue or Approved Treatments, Ocugen Stock Is a - Insider 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. To make the world smarter, happier, and richer. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. Honestly, OCGN stock is unlikely to survive. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. If OCU300 is approved, theres a reasonably large market. Like other life sciences companies involved in Covid-19 vaccine. The company stated that it will pursue a path to file for full FDA approval of Covaxin. 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.. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. Please check your download folder. The biotech stock promptly crashed by more than 30%. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. Learn More. Most biotech companies have intriguing stories on paper; Ocugen is no different. But realizing value in practice usually is a difficult endeavor. The Motley Fool->. Don't Get Greedy With Ocugen Stock, Says Analyst Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. 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.. 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? Thats the thing with these low-priced penny stocks. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. Written by Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. 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. 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. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. 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! ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. Sign up below to get this incredible offer! 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. 1125 N. Charles St, Baltimore, MD 21201. 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. Written by Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. quotes delayed at least 15 minutes, all others at least 20 minutes. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. But just because a company does not have crippling debt doesnt mean its a buy. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. Theres even room for more lines. 1125 N. Charles St, Baltimore, MD 21201. The average Ocugen stock price for the last 52 weeks is 2.10. Making the world smarter, happier, and richer. 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. Keith Speights for If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. quotes delayed at least 15 minutes, all others at least 20 minutes. 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. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. You canfollow Will on Twitterat @HealyWriting. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. *Stock Advisor returns as of June 7, 2021. The chances of anything more are small but the rewards could be huge. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. The Ocugen deal is a way to salvage some limited value. Ocugen. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. Sign up below to get this incredible offer! Ocugen Inc Stock - OCGN Share Price Today, News and Discussion - Stocktwits As of this writing, Vince Martin has no positions in any securities mentioned. This can prove to be a costly lesson to learn. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. The Ocugen deal is a way to salvage some limited value. If Ocugen goes up, you can still profit. Keith Speights has no position in any of the stocks mentioned. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. 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. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. 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 . The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. First, the balance sheet is in at least decent shape. Pricing likely would be favorable, given the lack of alternative treatments. Companies will inevitably be optimistic about their prospects for success (at least publicly). The Motley Fool has a disclosure policy. ET on Friday. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. Part of the proceeds will be used to support its partnership with Bharat. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. How long might it take for Ocugen to win full FDA approval for Covaxin? *Stock Advisor returns as of November 20, 2020. The equity has experienced a continual decline for years. There Are So Many Stocks to Buy Ocugen Isn't One of Them However, I wont be around to find out. 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. But there is no question some big-name stocks performed better than others along the way. An unprofitable biotech that focused on commercializing therapies to cure blindness prior to the present pandemic, Ocugen ( OCGN) stock took on a new life on December 22, when it announced. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. Still, Ocugens balance sheet isnt as dire as its share price might suggest. Ocugen: Peripheral Scandals Taint This Expired COVID-19 'Me-Too' Longshot Source: Chart courtesy of StockCharts.com. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. There's still a chance that the vaccine could receive a green light in Canada.