The second is that the balance sheet still needs some help. Type a symbol or company name. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. 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 came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. Its worth emphasizing: Ocugen stock is a play with enormous risk. Keith Speights for If they invent a miracle treatment for a condition, the money will find its way to the stock. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. 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. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. Keith Speights has no position in any of the stocks mentioned. For investors new to the story, there are some positives when it comes to OCGN stock. So, what goes wrong? The Motley Fool recommends Moderna Inc. Even at around 40 cents per share, I would consider Ocugen stock overvalued. The biotech stock promptly crashed by more than 30%. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. To make the world smarter, happier, and richer. This requires no immediate effort on your part. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. 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. As of this writing, Vince Martin has no positions in any securities mentioned. 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. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. Nasdaq 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? 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 company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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. quotes delayed at least 15 minutes, all others at least 20 minutes. 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. If you missed that action, you missed all the gains. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Click here to see what Matt has up his sleeve now. 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. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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 stock had gained some traction after they announced the Ocugen merger in April. 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. (See OCGN stock analysis on TipRanks). Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. Emergency Use . 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. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. 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. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. 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. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. For priority reviews, the timeline for an approval decision is reduced to six months. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. 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. But any success they find will be without me as a shareholder. Theres even room for more lines. From a near-term standpoint, there are two key risks. All rights reserved. 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. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. Lorem ipsum dolor sit amet, consectetur adipiscing elit. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. That doesnt mean success is guaranteed. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. However, I wont be around to find out. Ocugen isnt a promotional, fly-by-night penny stock. While anything is possible, I would not anticipate a miracle here. Theres even room for more lines. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. Keith Speights owns shares of Pfizer. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. 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. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. 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. It brings in no revenue. There's still a chance that the vaccine could receive a green light in Canada. 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. 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. 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. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. But if they do, Ocugen stock at the least looks like an intriguing bet. But there is no question some big-name stocks performed better than others along the way. Histogenics itself highlights the risks involved in small-cap biotech. Maybe. Investors need to understand the risk profile here. But just because a company does not have crippling debt doesnt mean its a buy. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) How long might it take for Ocugen to win full FDA approval for Covaxin? Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. 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 company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. 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. Conditions have only become worse since that time. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. For now, though, what happens in India stays in India. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. 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. *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. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. Do Not Sell My Personal Information (CA Residents Only). These symbols will be available throughout the site during your session. The Ocugen deal is a way to salvage some limited value. Keith Speights for However, even from this limited vantage point, OCGN appears destined to fail. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. See disclosure here. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. Plus500. (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. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. 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. Accordingly, the analyst rates OCGN a Neutral (i.e. ET on Friday. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. What should investors do now? The potential synergies of such a union do not seem clear. That's right -- they think these 10 stocks are even better buys. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. The company stated that it will pursue a path to file for full FDA approval of Covaxin. 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. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. Not an offer or recommendation by Stocktwits. 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. 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. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. It means that institutional investors focused on the sector largely have passed on the pipeline. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. Pricing likely would be favorable, given the lack of alternative treatments. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. Ill be sticking to the stocks that are actually working. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Keith Speights has no position in any of the stocks mentioned. Sign up below to get this incredible offer! Bharat Biotech has a history of successful vaccine commercialization in South Asia. Copyright 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. It has real products. Investors were hopeful that the small drugmaker would be able to win U.S. Copy and paste multiple symbols separated by spaces. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. 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 All rights reserved. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. *Average returns of all recommendations since inception. At the beginning of 2020, Ocugen shares were trading at just 47 cents. 1125 N. Charles St, Baltimore, MD 21201. But realizing value in practice usually is a difficult endeavor. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. Without NeoCart, that burn likely comes down. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. 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. 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. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. 2023 InvestorPlace Media, LLC. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. The latest closing stock price for Ocugen as of March 03, 2023 is. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. 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." It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Copyright 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. 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. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. Custom BMW. The $25 million private placement executed before the merger brought in much-needed cash. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. 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. Learn More. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. 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. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. 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. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. At the time, Ocugen was left for dead. If OCU300 is approved, theres a reasonably large market. This decision. So far, that merger hasnt worked out for Histogenics former shareholders. The content is intended to be used for informational purposes only. Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. Cost basis and return based on previous market day close. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. 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. Written by Copyright 2023 InvestorPlace Media, LLC. Thats the thing with these low-priced penny stocks. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). The S&P 500 has rallied 52.9% from the March low to its highs on August 6. 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. 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. 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. As of this writing, Matt did not hold a position in any of theaforementioned securities. 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. It means that raising capital will be more difficult going forward. 1125 N. Charles St, Baltimore, MD 21201. How can we possibly evaluate a stock on a fundamental basis with that being reality? Those lessons will vary between different investors, but I'll point out a major one to keep in mind. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. 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. OCGN does not even appear to have an apparent reason to exist. And its at least possible that OCGN could wind up being a winner. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. 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. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I.