H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on Ocugen (OCGN – Research Report) today and set a price target of $7.00.

Swayampakula Ramakanth’s rating is based on Ocugen’s promising financial and clinical progress. The company exceeded revenue expectations in the third quarter of 2024 and managed a better-than-expected net loss, reflecting strong financial management. Additionally, the company’s cash position, bolstered by recent debt financing, is sufficient to sustain operations into the first quarter of 2026, providing a stable financial outlook.
Ocugen’s initiatives in advancing their gene therapy pipeline further support the Buy rating. The company’s Phase 3 study for OCU400, aimed at treating retinitis pigmentosa, is making significant progress with enrollment expected to complete in the first half of 2025. Moreover, ongoing development of OCU410 and the anticipated initiation of a study for OCU200 to treat diabetic macular edema highlight a rich pipeline that could drive future revenue. The valuation of Ocugen’s stock is supported by a risk-adjusted net present value analysis, leading to a price target of $7.00 per share.