7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. Create your Watchlist to save your favorite quotes on Nasdaq.com. It has real products. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. 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. 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. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. 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. But just because a company does not have crippling debt doesnt mean its a buy. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. 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. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. If OCU300 is approved, theres a reasonably large market. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The Motley Fool has no position in any of the stocks mentioned. 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. Theres even room for more lines. In this case, shares rallied about four-fold in just a few days. At the time, Ocugen was left for dead. So, what goes wrong? It has no treatments to offer the market. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. The stock had gained some traction after they announced the. 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. How can we possibly evaluate a stock on a fundamental basis with that being reality? Pricing likely would be favorable, given the lack of alternative treatments. Do not expect a recovery in Ocugen stock. Ocugen sold $25 million of stock in a private placement before the merger. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Ocugen estimates the drug could have as many as 63,000 potential patients. Type a symbol or company name. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. That's right -- they think these 10 stocks are even better buys. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. Like other life sciences companies involved in Covid-19 vaccine. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. 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. 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. Part of the proceeds will be used to support its partnership with Bharat. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. And its at least possible that OCGN could wind up being a winner. These options will be cheaper than owning the stock itself. 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. 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.. MALVERN, Pa., May 29, 2018 /PRNewswire/ -- Ocugen, Inc., a rapidly growing ophthalmology company developing a rich clinical pipeline of innovative therapies that address rare and underserved ocular diseases, today announced that it will present at the 2018 BIO International Convention, taking place June 4-7, 2018, in Boston. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Conditions have only become worse since that time. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. That doesnt mean success is guaranteed. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. If you missed that action, you missed all the gains. 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. Type a symbol or company name. 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. While anything is possible, I would not anticipate a miracle here. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. 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. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Accordingly, the analyst rates OCGN a Neutral (i.e. A $30 million market capitalization doesnt mean Ocugen has no chance. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. Written by Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. 7 Travel Stocks to Buy Banking On Pent-Up Demand. 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. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. Maybe OCGN stock will be one of them again. 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. The latest closing stock price for Ocugen as of March 03, 2023 is. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. 1125 N. Charles St, Baltimore, MD 21201. The Motley Fool has a disclosure policy. All rights reserved. *Average returns of all recommendations since inception. There's still a chance that the vaccine could receive a green light in Canada. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. Can you feel the ground moving beneath your feet? It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. 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. Long-term debt of $1.6 million is not a back-breaker either. 1125 N. Charles St, Baltimore, MD 21201. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. Emergency Use . Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. Investors need to understand the risk profile here. Ocugen had to go an unusual route to go public. Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. For investors new to the story, there are some positives when it comes to OCGN stock. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. The median estimate. Copyright 2023 InvestorPlace Media, LLC. Investing is always a game of balancing risk and reward. So far, that merger hasnt worked out for Histogenics former shareholders. The Motley Fool recommends Moderna Inc. See disclosure here. 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? OCGN does not even appear to have an apparent reason to exist. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. All rights reserved. Invest better with The Motley Fool. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. What Is the Best EV Stock to Buy Now? In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. These symbols will be available throughout the site during your session. Still, Ocugens balance sheet isnt as dire as its share price might suggest. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. It has real management. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. Honestly, OCGN stock is unlikely to survive. 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). It brings in no revenue. 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. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. 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? The equity has experienced a continual decline for years. This can prove to be a costly lesson to learn. Do Not Sell My Personal Information (CA Residents Only). The Motley Fool has a disclosure policy. 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." 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. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. 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. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. 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. 1125 N. Charles St, Baltimore, MD 21201. This requires no immediate effort on your part. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. Source: Chart courtesy of StockCharts.com. (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 stock had gained some traction after they announced the Ocugen merger in April. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. Hold) without suggesting a price target. 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. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. The FDA's decision not to issue EUA really wasn't all that surprising, though. Most biotech companies have intriguing stories on paper; Ocugen is no different. 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. *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. Not an offer or recommendation by Stocktwits. All rights reserved. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. 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. 1125 N. Charles St, Baltimore, MD 21201. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. 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 .