In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. But there is no question some big-name stocks performed better than others along the way. 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. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. For priority reviews, the timeline for an approval decision is reduced to six months. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-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! Nasdaq In this case, shares rallied about four-fold in just a few days. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. The stock had gained some traction after they announced the. 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! 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. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. 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. Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Unfortunately for longs, OCGN is much closer to the worst of conditions. You never know when they will suddenly go on a squeeze. OCGN | Ocugen Inc. Stock Price & News - WSJ Ocugen Inc. OCGN (U.S.: Nasdaq) REAL TIME 12:30 PM EST 02/21/23 $0.9819USD -0.0981 -9.08% Volume 3,761,699 65 Day Avg Vol 5,026,332 1 Day Range. Keith Speights has no position in any of the stocks mentioned. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. Type a symbol or company name. *Average returns of all recommendations since inception. The second is that the balance sheet still needs some help. Ocugen estimates the drug could have as many as 63,000 potential patients. This decision. Nasdaq Copyright 2023 InvestorPlace Media, LLC. Ocugen Inc. is a clinical stage biopharmaceutical company. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. In that list, you can even include penny-stock trader. But it does mean something. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. quotes delayed at least 15 minutes, all others at least 20 minutes. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. 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. Investors should worry about companies with no revenue even under the best of circumstances. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. You canfollow Will on Twitterat @HealyWriting. The Motley Fool has a disclosure policy. Ocugen isnt a promotional, fly-by-night penny stock. Copyright The $25 million private placement executed before the merger brought in much-needed cash. How long might it take for Ocugen to win full FDA approval for Covaxin? From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. Literally, zero. (See OCGN stock analysis on TipRanks). The Motley Fool->. Type a symbol or company name. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. These symbols will be available throughout the site during your session. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. Our 3 Top Picks. Please check your download folder. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. All rights reserved. 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. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. That product drives the current bull case for Ocugen stock. Investing is always a game of balancing risk and reward. The Motley Fool->. The company initiated its Phase 3 trial of OCU300 back in July 2018. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. Keith Speights for 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? 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. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. The average Ocugen stock price for the last 52 weeks is 2.10. It has real management. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. 1125 N. Charles St, Baltimore, MD 21201. But just because a company does not have crippling debt doesnt mean its a buy. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. 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? Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. So, what goes wrong? 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. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. Copy and paste multiple symbols separated by spaces. Ocugen had to go an unusual route to go public. 2023 InvestorPlace Media, LLC. It's hard to say for sure. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. Sign up below to get this incredible offer! For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. The median estimate. 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. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. Even though Ocugen did raise $25 million in a private placement, the story behind OCU300 clearly was not enough to support an initial public offering on its own. 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. 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. If Ocugen goes up, you can still profit. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. 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. 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. Click here to see what Matt has up his sleeve now. Conditions have only become worse since that time. Thats not a new problem: a previous Phase 1/2 study, according to the prospectus, was discontinued early due to slow enrollment. The company noted that additional trials may be required as well. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). It has no treatments to offer the market. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. What Is the Best EV Stock to Buy Now? 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. *Stock Advisor returns as of November 20, 2020. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Do Not Sell My Personal Information (CA Residents Only). Our 3 Top Picks. Thats the thing with these low-priced penny stocks. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. 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. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Other than an emphasis on cell therapies, the companies had almost nothing in common. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. If they have solid financials, but their trials continually fail, they will likely not succeed. However, sometimes the optimism isn't justified. This can prove to be a costly lesson to learn. 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. 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.. 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. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 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. For now, though, what happens in India stays in India. Ocugen. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. 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. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Making the world smarter, happier, and richer. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Emergency Use . Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. 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. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. Accordingly, the analyst rates OCGN a Neutral (i.e. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. Axsome Therapeutics (NASDAQ:AXSM) had an equity value below $75 million in March 2017; its now worth over $3 billion after rising over 1,000% last year. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. But any success they find will be without me as a shareholder. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. The short answer is: everything. quotes delayed at least 15 minutes, all others at least 20 minutes. The Motley Fool has no position in any of the stocks mentioned. Theres even room for more lines. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 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. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. 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. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. 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 ( 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. 7 Travel Stocks to Buy Banking On Pent-Up Demand. Still, Ocugens balance sheet isnt as dire as its share price might suggest. The FDA's decision not to issue EUA really wasn't all that surprising, though. 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. 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. At the beginning of 2020, Ocugen shares were trading at just 47 cents. Start trading Options with Saxo today. It means that institutional investors focused on the sector largely have passed on the pipeline. See disclosure here. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. 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. Can you feel the ground moving beneath your feet? (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. So far, that merger hasnt worked out for Histogenics former shareholders. Keith Speights for But realizing value in practice usually is a difficult endeavor. Do not expect a recovery in Ocugen stock. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Part of the proceeds will be used to support its partnership with Bharat.