Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. 2023 InvestorPlace Media, LLC. 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. The short answer is: everything. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. All rights reserved. These symbols will be available throughout the site during your session. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. Typically, I care little about financials with biotechs. The chances of anything more are small but the rewards could be huge. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). 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. Still, Ocugens balance sheet isnt as dire as its share price might suggest. If Ocugen goes up, you can still profit. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. 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? Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Theres even room for more lines. Keith Speights for The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. This requires no immediate effort on your part. Copyright 2023 InvestorPlace Media, LLC. Ocugen sold $25 million of stock in a private placement before the merger. Written by 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. If you missed that action, you missed all the gains. What Is the Best EV Stock to Buy Now? In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. 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. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. These symbols will be available throughout the site during your session. The median estimate. 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. Can you feel the ground moving beneath your feet? The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. Written by After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. What should investors do now? 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. 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. 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! 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. Most biotech companies have intriguing stories on paper; Ocugen is no different. All rights reserved. But realizing value in practice usually is a difficult endeavor. OCGN does not even appear to have an apparent reason to exist. However, when that occurred, Ocugen stock lost most of its value. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. 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. Not an offer or recommendation by Stocktwits. quotes delayed at least 15 minutes, all others at least 20 minutes. That doesnt mean success is guaranteed. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. Copyright 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. To be sure, current cash isnt enough. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. 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. I will concede this: The one great thing about the stock market is there is a style for everyone. This can prove to be a costly lesson to learn. ET on Friday. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. The latest closing stock price for Ocugen as of March 03, 2023 is. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. 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 point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. The company stated that it will pursue a path to file for full FDA approval of Covaxin. It brings in no revenue. Honestly, OCGN stock is unlikely to survive. 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. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. If they invent a miracle treatment for a condition, the money will find its way to the stock. *Stock Advisor returns as of June 7, 2021. Conditions have only become worse since that time. You never know when they will suddenly go on a squeeze. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. But the allure of the space is that when a company wins, its shareholders win big. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. 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. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. Bharat Biotech has a history of successful vaccine commercialization in South Asia. First, the balance sheet is in at least decent shape. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. *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. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. This decision. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. So, what goes wrong? Investors should worry about companies with no revenue even under the best of circumstances. 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. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. 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. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. In that list, you can even include penny-stock trader. 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. 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. The Motley Fool recommends Moderna Inc. Our 3 Top Picks. Hold) without suggesting a price target. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. Accordingly, the analyst rates OCGN a Neutral (i.e. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. With $3.2 million in cash vs. current liabilities of $3.3 million, Ocugen likely has enough cash on hand to cover its short-term obligations. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. The $25 million private placement executed before the merger brought in much-needed cash. That's not going to happen now. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. 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. 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. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. 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. Its worth emphasizing: Ocugen stock is a play with enormous risk. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Keith Speights owns shares of Pfizer. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. 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. 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. Maybe OCGN stock will be one of them again. All rights reserved. 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. It has no treatments to offer the market. Like other life sciences companies involved in Covid-19 vaccine. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. 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. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. Do Not Sell My Personal Information (CA Residents Only). Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. Source: Chart courtesy of StockCharts.com. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. The average Ocugen stock price for the last 52 weeks is 2.10. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. 1125 N. Charles St, Baltimore, MD 21201. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. The Ocugen deal is a way to salvage some limited value. However, sometimes the optimism isn't justified. Companies will inevitably be optimistic about their prospects for success (at least publicly). Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Ocugen. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. 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." Investors who have owned stocks in the last year have generally experienced some big gains. Ocugen had to go an unusual route to go public. 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.
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