Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. 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! In that list, you can even include penny-stock trader. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. 1125 N. Charles St, Baltimore, MD 21201. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. market." 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. What should investors do now? Copyright 2023 InvestorPlace Media, LLC. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. Start trading Options with Saxo today. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. *Average returns of all recommendations since inception. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. As of this writing, Vince Martin has no positions in any securities mentioned. Ill be sticking to the stocks that are actually working. 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. First, the balance sheet is in at least decent shape. But the allure of the space is that when a company wins, its shareholders win big. Do not expect a recovery in Ocugen stock. Remember, though, that Moderna achieved this while working closely with the U.S. government (including receiving funding from Uncle Sam) and during a period when vaccines weren't widely available. 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 . Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. The $25 million private placement executed before the merger brought in much-needed cash. The Motley Fool has no position in any of the stocks mentioned. Investing is always a game of balancing risk and reward. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. At the time, Ocugen was left for dead. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. 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. Ocugen Inc First Quarter 2022 Financial Results and Recent Business Highlights 04/21/2022 Noble Capital Markets' Eighteenth Annual Investor Conference 03/14/2022 34th Annual ROTH Conference 02/25/2022 Ocugen, Inc. Q4 and Full Year 2021 Financial Results and Recent Business Highlights 01/10/2022 H.C. Wainwright Bioconnect Conference 12/22/2021 The short answer is: everything. Here are three prudent steps to take. (See OCGN stock analysis on TipRanks). 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. This requires no immediate effort on your part. 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. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. But realizing value in practice usually is a difficult endeavor. If OCU300 is approved, theres a reasonably large market. The latest closing stock price for Ocugen as of March 03, 2023 is. 7 Travel Stocks to Buy Banking On Pent-Up Demand. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. Investors were hopeful that the small drugmaker would be able to win U.S. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. 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. 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. Unfortunately for longs, OCGN is much closer to the worst of conditions. 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. If you use our chart images on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. Other than an emphasis on cell therapies, the companies had almost nothing in common. Emergency Use . Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. Theres even room for more lines. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. The firm's modifier gene therapy platform is engaged in addressing retinal diseases, including retinitis pigmentosa, leber congenital amaurosis, and dry age-related macular degeneration. Written by Investors need to understand the risk profile here. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. However, even from this limited vantage point, OCGN appears destined to fail. 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! 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. Please check your download folder. Not an offer or recommendation by Stocktwits. Click here to see what Matt has up his sleeve now. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Nasdaq As of this writing, Matt did not hold a position in any of theaforementioned securities. Guys, theres no revenue here! Ocugen isnt a promotional, fly-by-night penny stock. Our 3 Top Picks. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. Copyright 2023 InvestorPlace Media, LLC. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. The Motley Fool has no position in any of the stocks mentioned. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. The Motley Fool->. Type a symbol or company name. So far, that merger hasnt worked out for Histogenics former shareholders. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. The Motley Fool->. There's still a chance that the vaccine could receive a green light in Canada. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. All rights reserved. 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. quotes delayed at least 15 minutes, all others at least 20 minutes. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. The Ocugen deal is a way to salvage some limited value. For priority reviews, the timeline for an approval decision is reduced to six months. The Motley Fool has a disclosure policy. All rights reserved. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. Type a symbol or company name. However, sometimes the optimism isn't justified. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. What Is the Best EV Stock to Buy Now? Without NeoCart, that burn likely comes down. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. The Motley Fool has a disclosure policy. The median estimate. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. UPDATE 1-Soccer-Traore on target as Wolves stun wasteful Spurs, Peruvian communities to resume blockade of crucial "mining corridor", One student loan forgiveness effort 'hasnt gotten the attention it deserves': expert, RPT-Death toll in strike on Ukraine's Zaporizhzhia rises to 11 - officials, Soccer-Traore on target as Wolves stun wasteful Spurs. 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. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. All rights reserved. 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. 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. 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. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. If they have solid financials, but their trials continually fail, they will likely not succeed. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. The average Ocugen stock price for the last 52 weeks is 2.10. How long might it take for Ocugen to win full FDA approval for Covaxin? Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. 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. 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. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. For investors new to the story, there are some positives when it comes to OCGN stock. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. Making the world smarter, happier, and richer. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. Most biotech companies have intriguing stories on paper; Ocugen is no different. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. 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. 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 company has no revenue, runs an annual deficit, and does not generate positive free cash flow. Type a symbol or company name. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. It's hard to say for sure. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Keith Speights for What Is the Best EV Stock to Buy Now? I am all for a good opportunity, but I dont know why some investors insist on penny stocks. Sign up below to get this incredible offer! The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. Its all about choice. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. Investors should worry about companies with no revenue even under the best of circumstances. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. The Ocugen deal is a way to salvage some limited value. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. 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.. 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. These symbols will be available throughout the site during your session. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. 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. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. It has real products. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. But it does mean something. Investors were hopeful that the small drugmaker would be able to win U.S. Do Not Sell My Personal Information (CA Residents Only). Copy and paste multiple symbols separated by spaces. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. Keith Speights for This decision. These options will be cheaper than owning the stock itself. If Ocugen goes up, you can still profit. Maybe. 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. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. Its certainly possible. Pricing likely would be favorable, given the lack of alternative treatments. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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.
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