Ocugen Inc. (OCGN): What Top Wall Street Players are Saying

Mizuho Securities believes biotech firm Ocugen Inc. (NASDAQ: OCGN) is undervalued. Its business prospects extend beyond the development of a COVID-19 vaccine.

According to Mizuho, Ocugen is now being evaluated exclusively on the commercial possibilities of its COVID-19 vaccine, which is already licensed for adult use in Mexico and is being reviewed by Canadian regulators. However, Ocugen’s portfolio has a promising product that has the potential to generate hundreds of millions of dollars in sales.

Top 5 Artificial Intelligence Stocks to Buy for 2024

By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it. According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."

Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"


We’re talking about OCU400, a potential therapy for eye problems. This candidate is a gene therapy modification with the goal of treating the early and middle phases of retinitis pigmentosa, a genetic illness that causes vision impairment and eventually blindness. Symptoms of the condition develop at various ages, but the earlier therapy begins, the less severe the effects.

If the OCU400 candidate survives all phases of testing and wins regulatory approval, it might generate Ocugen Inc. (OCGN) several hundred million dollars in sales. The application to the authorities is expected to be presented in two to three years, assuming that the research and testing go as planned.

Analysts at Mizuho predict that OCU400 will be the most successful medicine in the Ocugen Inc. (OCGN) family. As a result, the company’s analysts raised the target price for OCGN shares to $5, about double the current price, and issued a recommendation to “buy” shares this week. Analysts believe that the market is now overlooking a crucial value proposition from Ocugen.

At the same time, risks must be considered, because even promising candidates in the early phases of development may not always reach the desired outcomes in the later stages. As a result, despite the fact that Ocugen Inc. (OCGN) already has a commercial product – the Covaxin vaccination against COVID-19 – investing in the firm remains hazardous.

OCGN stock gained 10.55% in the previous week and 7.60% in the previous month. This company’s stock increased 30.41% in the previous quarter. The stock has been down -7.36% in the previous six months, with a year-to-date loss of -63.15%. At the time of writing, the year-to-date (YTD) price performance of this stock was -37.80%.

Related Posts