But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. 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. Still, Ocugens balance sheet isnt as dire as its share price might suggest. Investors who have owned stocks in the last year have generally experienced some big gains. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. Even at around 40 cents per share, I would consider Ocugen stock overvalued. 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. 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. But any success they find will be without me as a shareholder. 1125 N. Charles St, Baltimore, MD 21201. 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. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Ocugen - Stock Price History | OCGN | MacroTrends The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. Nasdaq There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. See disclosure here. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Copyright In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. 1125 N. Charles St, Baltimore, MD 21201. Ocugen Inc Stock - OCGN Share Price Today, News and Discussion - Stocktwits 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. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. The Ocugen deal is a way to salvage some limited value. Hold) without suggesting a price target. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. *Stock Advisor returns as of June 7, 2021. 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.. 1125 N. Charles St, Baltimore, MD 21201. Ocugen Stock Is Not for the Faint of Heart - InvestorPlace market." Objective investors could have clearly seen then that there actually were significant reasons to be concerned. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. 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. 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? Our 3 Top Picks. Emergency Use . CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. Ocugen Inc. Announces Closing of $100 Million Registered So, what goes wrong? 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. Maybe. 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? The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. This requires no immediate effort on your part. The company stated that it will pursue a path to file for full FDA approval of Covaxin. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. Like other life sciences companies involved in Covid-19 vaccine. Guys, theres no revenue here! The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. Click here to see what Matt has up his sleeve now. Gw pharmaceuticals stock dividends will nike stock split soon Ocugen to Present at the 2018 BIO International Convention | Ocugen, Inc. Why Ocugen Stock Dropped Today | The Motley Fool - Nasdaq For investors new to the story, there are some positives when it comes to OCGN stock. 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. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. Can you feel the ground moving beneath your feet? Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. 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. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Copyright 2023 InvestorPlace Media, LLC. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. Learn More. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Investing is always a game of balancing risk and reward. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. With No Revenue or Approved Treatments, Ocugen Stock Is a - Insider Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. In that list, you can even include penny-stock trader. 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. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. All rights reserved. Theres even room for more lines. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. All rights reserved. Theres even room for more lines. What Is the Best EV Stock to Buy Now? 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. If they invent a miracle treatment for a condition, the money will find its way to the stock. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. You canfollow Will on Twitterat @HealyWriting. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. Plus500. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. Keith Speights for Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. Is Ocugen Stock Still Worth Buying After Its 800%-Plus Rally? Analyst The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. It has real products. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. (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. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Most biotech companies have intriguing stories on paper; Ocugen is no different. Source: Chart courtesy of StockCharts.com. 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. Making the world smarter, happier, and richer. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. 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. If Ocugen goes up, you can still profit. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. 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. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. Ill be sticking to the stocks that are actually working. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. quotes delayed at least 15 minutes, all others at least 20 minutes. Copyright 2023 InvestorPlace Media, LLC. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. But there is no question some big-name stocks performed better than others along the way. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. The median estimate. Custom BMW. However, sometimes the optimism isn't justified. If You Invested $1,000 In Ocugen Stock One Year Ago, Here's - Insider All rights reserved. Custom BMW #youtube #moto #motorcycle #bike #youtubeshorts #shorts 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 peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. At the time, Ocugen was left for dead. These symbols will be available throughout the site during your session. If OCU300 is approved, theres a reasonably large market. How can we possibly evaluate a stock on a fundamental basis with that being reality? Literally, zero. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits.