ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. What should investors do now? But the allure of the space is that when a company wins, its shareholders win big. 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. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. *Stock Advisor returns as of June 7, 2021. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Its all about choice. Thats the thing with these low-priced penny stocks. 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. At the time, Ocugen was left for dead. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. Companies will inevitably be optimistic about their prospects for success (at least publicly). That's right -- they think these 10 stocks are even better buys. Investors were hopeful that the small drugmaker would be able to win U.S. 1125 N. Charles St, Baltimore, MD 21201. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. These symbols will be available throughout the site during your session. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. 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. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. (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. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. 2023 InvestorPlace Media, LLC. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Keith Speights has no position in any of the stocks mentioned. It means that institutional investors focused on the sector largely have passed on the pipeline. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. At the beginning of 2020, Ocugen shares were trading at just 47 cents. 1125 N. Charles St, Baltimore, MD 21201. Click here to see what Matt has up his sleeve now. 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. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. 7 Travel Stocks to Buy Banking On Pent-Up Demand. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. 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 you use our chart images on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. This decision. 1125 N. Charles St, Baltimore, MD 21201. Typically, I care little about financials with biotechs. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. It means that raising capital will be more difficult going forward. The median estimate. But just because a company does not have crippling debt doesnt mean its a buy. Bharat Biotech has a history of successful vaccine commercialization in South Asia. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Guys, theres no revenue here! In November, Bharat Biotech began Phase 3 testing of Covaxin in India. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. 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. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. 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. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. If Ocugen goes up, you can still profit. Ocugen. Keith Speights for Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. Maybe OCGN stock will be one of them again. First, the balance sheet is in at least decent shape. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. The Motley Fool has a disclosure policy. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. The statistics support having long-term exposure to this asset class. Cost basis and return based on previous market day close. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. 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. Investors who have owned stocks in the last year have generally experienced some big gains. 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 firm's modifier gene therapy platform is engaged in addressing retinal diseases, including retinitis pigmentosa, leber congenital amaurosis, and dry age-related macular degeneration. OCGN does not even appear to have an apparent reason to exist. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. The Ocugen deal is a way to salvage some limited value. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. That said, for investors who understand the potential downside, there is an intriguing story here. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. Create your Watchlist to save your favorite quotes on Nasdaq.com. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. When the market crashed during the U.S. pandemic outbreak in March, shares of vaccine makers understandably soared as work began on developing vaccines to fight COVID-19. It is very important to do your own analysis before making any investment. Hold) without suggesting a price target. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. 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. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) It has real management. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. Lorem ipsum dolor sit amet, consectetur adipiscing elit. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Theres even room for more lines. Part of the proceeds will be used to support its partnership with Bharat. Here are three prudent steps to take. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. And its at least possible that OCGN could wind up being a winner. That's not going to happen now. ET on Friday. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. 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. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. All rights reserved. For investors new to the story, there are some positives when it comes to OCGN stock. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. 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." Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. If they have solid financials, but their trials continually fail, they will likely not succeed. 2023 InvestorPlace Media, LLC. OCU300 already has received an orphan drug designation from the U.S. Food & Drug Administration for oGVHD; there is no currently approved treatment in the U.S. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. 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. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. 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. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. 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. You canfollow Will on Twitterat @HealyWriting. This can prove to be a costly lesson to learn. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. In that list, you can even include penny-stock trader. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. 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. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. There's still a chance that the vaccine could receive a green light in Canada. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. 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.