Symbols / OCGN $2.28 +28.53%
OCGN Chart
About
Ocugen, Inc., a biopharmaceutical company, focuses on discovering, developing, and commercializing novel gene and cell therapies, biologic, and vaccines that improve patients' health. The company's pipeline product includes OCU400, a novel gene therapy product candidate restoring retinal integrity and function across a range of genetically diverse inherited retinal diseases, currently under Phase 3 trials for the treatment of retinitis pigmentosa and Phase 1/2 trials for the treatment of leber congenital amaurosis; OCU410, a gene therapy under phase 1/2 for the treatment of dry age-related macular degeneration (AMD); and OCU410ST, a gene therapy under phase 1/2 for the treatment of Stargardt disease. It is involved in the development of OCU200, a novel recombinant fusion protein for the treatment of diabetic macular edema, diabetic retinopathy, and wet age-related macular degeneration; and NeoCart, an autologous chondrocyte-derived neocartilage for the repair of knee cartilage injuries in adult. In addition, the company is developing OCU500, a COVID-19 vaccine; OCU510, a seasonal quadrivalent flu vaccine; and OCU520, a combination quadrivalent seasonal flu and COVID-19 vaccine. It has collaboration agreements with National Institute of Allergy and Infectious Diseases for early clinical studies for the OCU500 program; and a strategic partnership with CanSino Biologics Inc. for manufacturing its modifier gene therapy pipeline product candidates. The company was founded in 2013 and is headquartered in Malvern, Pennsylvania.
Fundamentals
Scroll to Statements| Sector | Healthcare | Industry | Biotechnology | Market Cap | 745.97M |
| Enterprise Value | 594.95M | Income | -67.85M | Sales | 4.41M |
| Book/sh | -0.04 | Cash/sh | 0.06 | Dividend Yield | — |
| Payout | 0.00% | Employees | 116 | IPO | — |
| P/E | — | Forward P/E | 9.48 | PEG | — |
| P/S | 169.04 | P/B | -58.33 | P/C | — |
| EV/EBITDA | -9.72 | EV/Sales | 134.82 | Quick Ratio | 0.81 |
| Current Ratio | 1.06 | Debt/Eq | — | LT Debt/Eq | — |
| EPS (ttm) | -0.23 | EPS next Y | 0.24 | EPS Growth | — |
| Revenue Growth | — | Earnings | 2026-05-07 | ROA | -63.10% |
| ROE | -7.77% | ROIC | — | Gross Margin | 0.00% |
| Oper. Margin | 85.59% | Profit Margin | 0.00% | Shs Outstand | 327.90M |
| Shs Float | 322.73M | Short Float | 15.21% | Short Ratio | 8.93 |
| Short Interest | — | 52W High | 2.37 | 52W Low | 0.52 |
| Beta | 2.90 | Avg Volume | 5.48M | Volume | 36.15M |
| Target Price | $9.04 | Recom | Strong_buy | Prev Close | $1.77 |
| Price | $2.27 | Change | 28.53% |
Valuation Models
Price estimates from analyst targets and simple models.
1. Analyst consensus
$9.04
Mean price target
2. Current target
$2.19
Latest analyst target
3. DCF / Fair value
$-1.82
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$2.19
Low
$7.00
High
$15.00
Mean
$9.04
Latest analyst rating changes
| Date | Action | Analyst | Rating Change | Price Target |
|---|---|---|---|---|
| 2026-03-11 | init | Oppenheimer | — → Outperform | $10 |
| 2026-03-05 | main | Chardan Capital | Buy → Buy | $7 |
| 2026-01-20 | main | Chardan Capital | Buy → Buy | $7 |
| 2025-09-19 | main | Chardan Capital | Buy → Buy | $7 |
| 2025-08-04 | main | Chardan Capital | Buy → Buy | $7 |
| 2025-06-24 | main | Chardan Capital | Buy → Buy | $7 |
| 2025-06-24 | reit | HC Wainwright & Co. | Buy → Buy | $7 |
| 2025-05-12 | main | HC Wainwright & Co. | Buy → Buy | $7 |
| 2025-05-12 | main | Chardan Capital | Buy → Buy | $7 |
| 2025-03-06 | main | Chardan Capital | Buy → Buy | $7 |
| 2025-03-06 | reit | HC Wainwright & Co. | Buy → Buy | $8 |
| 2025-02-13 | main | Chardan Capital | Buy → Buy | $6 |
| 2025-02-13 | main | HC Wainwright & Co. | Buy → Buy | $8 |
| 2025-01-23 | main | Chardan Capital | Buy → Buy | $6 |
| 2025-01-13 | reit | HC Wainwright & Co. | Buy → Buy | $7 |
| 2024-11-18 | main | Chardan Capital | Buy → Buy | $6 |
| 2024-11-14 | reit | HC Wainwright & Co. | Buy → Buy | $7 |
| 2024-11-11 | reit | HC Wainwright & Co. | Buy → Buy | $7 |
| 2024-11-09 | main | Chardan Capital | Buy → Buy | $6 |
| 2024-10-23 | reit | HC Wainwright & Co. | Buy → Buy | $7 |
- Oppenheimer initiates Ocugen stock rating at Outperform on gene therapy potential - Investing.com Wed, 11 Mar 2026 10
- Oppenheimer Starts Ocugen (OCGN) at Outperform on Gene Therapy Pipeline - 24/7 Wall St. Wed, 11 Mar 2026 14
- OCGN: Oppenheimer Initiates Coverage with Outperform Rating | OC - GuruFocus Wed, 11 Mar 2026 12
- Oppenheimer Starts Ocugen (OCGN) at Outperform on Gene Therapy Pipeline - AOL.com Wed, 11 Mar 2026 14
- Ocugen: Downgrade "Hold" After OCU410 Data Release (NASDAQ:OCGN) - Seeking Alpha Mon, 09 Mar 2026 19
- HC Wainwright Brokers Increase Earnings Estimates for Ocugen - MarketBeat Wed, 11 Mar 2026 11
- Is ArriVent BioPharma, Inc. (AVBP) Stock Outpacing Its Medical Peers This Year? - Yahoo Finance ue, 10 Mar 2026 13
- Why Did OCGN Stock Rise Today? - Stocktwits Wed, 25 Feb 2026 19
- Potential one-time RP gene therapy moves closer as Ocugen fills major trial - Stock Titan Mon, 02 Mar 2026 08
- OCUGEN ($OCGN) Releases Q4 2025 Earnings - Quiver Quantitative Wed, 04 Mar 2026 13
- Ocugen’s Growing Pains: High Execution and Compliance Risks Threaten Shareholder Value - The Globe and Mail Sat, 07 Mar 2026 12
- Ocugen (NASDAQ:OCGN) Lowered to "Sell" Rating by Wall Street Zen - MarketBeat Sat, 07 Mar 2026 09
- Ocugen (OCGN) Reports Q4 Loss, Lags Revenue Estimates - Yahoo Finance Wed, 04 Mar 2026 14
- Eye gene therapy for geographic atrophy slows lesions 46% in study - Stock Titan hu, 15 Jan 2026 08
- Ocugen (OCGN) Valuation Check As Social Media Speculation Lifts Interest In Gene Therapy Prospects - Yahoo Finance Sat, 10 Jan 2026 08
Insider Transactions
| Date | Shares | Value | Url | Text | Insider | Position | Transaction | Start Date | Ownership |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 3123201 | — | — | Stock Award(Grant) at price 0.00 per share. | MUSUNURI SHANKAR PH.D | Chief Executive Officer | — | 2026-01-02 00:00:00 | D |
| 1 | 207300 | — | — | Stock Award(Grant) at price 0.00 per share. | RAMACHANDRAN RAMESH | Officer | — | 2026-01-02 00:00:00 | D |
| 2 | 10000 | 9095 | — | Purchase at price 0.91 per share. | FERNANDES PRABHAVATHI | Director | — | 2024-11-26 00:00:00 | D |
| 3 | 25000 | 22848 | — | Purchase at price 0.91 per share. | CASTILLO KIRSTEN M | Director | — | 2024-11-22 00:00:00 | D |
Financials
| Line Item | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| TaxEffectOfUnusualItems | 0.00 | 0.00 | 0.00 | 0.00 |
| TaxRateForCalcs | 0.00 | 0.00 | 0.00 | 0.00 |
| NormalizedEBITDA | -60.27M | -51.40M | -64.83M | -88.59M |
| TotalUnusualItems | 0.00 | |||
| TotalUnusualItemsExcludingGoodwill | 0.00 | |||
| NetIncomeFromContinuingOperationNetMinorityInterest | -67.85M | -54.05M | -63.08M | -86.80M |
| ReconciledDepreciation | 2.39M | 1.97M | 704.00K | 480.00K |
| EBITDA | -60.27M | -51.40M | -64.83M | -88.59M |
| EBIT | -62.66M | -53.37M | -65.53M | -89.07M |
| NetInterestIncome | -4.27M | 563.00K | -79.00K | |
| InterestExpense | 5.19M | 688.00K | 79.00K | |
| InterestIncome | 922.00K | 1.25M | ||
| NormalizedIncome | -67.85M | -54.05M | -63.08M | -86.80M |
| NetIncomeFromContinuingAndDiscontinuedOperation | -67.85M | -54.05M | -63.08M | -86.80M |
| TotalExpenses | 67.33M | 58.81M | 71.57M | 91.56M |
| TotalOperatingIncomeAsReported | -62.92M | -54.76M | -65.53M | -89.07M |
| DilutedAverageShares | 271.00M | 244.33M | 214.60M | 195.01M |
| BasicAverageShares | 271.00M | 244.33M | 214.60M | 195.01M |
| DilutedEPS | -0.20 | -0.26 | -0.38 | -0.30 |
| BasicEPS | -0.20 | -0.26 | -0.38 | -0.30 |
| DilutedNIAvailtoComStockholders | -67.85M | -54.05M | -63.08M | -86.80M |
| NetIncomeCommonStockholders | -67.85M | -54.05M | -63.08M | -86.80M |
| NetIncome | -67.85M | -54.05M | -63.08M | -86.80M |
| NetIncomeIncludingNoncontrollingInterests | -67.85M | -54.05M | -63.08M | -86.80M |
| NetIncomeContinuousOperations | -67.85M | -54.05M | -63.08M | -86.80M |
| TaxProvision | 0.00 | -52.00K | ||
| PretaxIncome | -67.85M | -54.05M | -63.08M | -86.80M |
| OtherIncomeExpense | -664.00K | 140.00K | 2.45M | 2.27M |
| OtherNonOperatingIncomeExpenses | -664.00K | 140.00K | 2.45M | 2.27M |
| SpecialIncomeCharges | 0.00 | |||
| NetNonOperatingInterestIncomeExpense | -4.27M | 563.00K | -79.00K | |
| InterestExpenseNonOperating | 5.19M | 688.00K | 79.00K | |
| InterestIncomeNonOperating | 922.00K | 1.25M | ||
| OperatingIncome | -62.92M | -54.76M | -65.53M | -89.07M |
| OperatingExpense | 67.33M | 58.81M | 71.57M | 91.56M |
| ResearchAndDevelopment | 39.75M | 32.13M | 39.57M | 56.16M |
| SellingGeneralAndAdministration | 27.58M | 26.69M | 31.99M | 35.40M |
| GeneralAndAdministrativeExpense | 27.58M | 26.69M | 31.99M | 35.40M |
| OtherGandA | 27.58M | 26.69M | 31.99M | 35.40M |
| TotalRevenue | 4.41M | 4.05M | 6.04M | 2.49M |
| OperatingRevenue | 4.41M | 4.05M | 6.04M | 2.49M |
| Line Item | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| TreasurySharesNumber | 121.50K | 121.50K | 121.50K | 121.50K |
| OrdinarySharesNumber | 312.38M | 291.37M | 256.57M | 221.60M |
| ShareIssued | 312.50M | 291.49M | 256.69M | 221.72M |
| NetDebt | 10.22M | |||
| TotalDebt | 33.14M | 32.50M | 6.94M | 6.37M |
| TangibleBookValue | -12.17M | 29.63M | 40.56M | 73.98M |
| InvestedCapital | 16.63M | 58.30M | 43.36M | 76.27M |
| WorkingCapital | 1.30M | 40.09M | 25.88M | 69.96M |
| NetTangibleAssets | -12.17M | 29.63M | 40.56M | 73.98M |
| CapitalLeaseObligations | 4.35M | 3.83M | 4.14M | 4.08M |
| CommonStockEquity | -12.17M | 29.63M | 40.56M | 73.98M |
| PreferredStockEquity | 1.00K | 1.00K | 1.00K | |
| TotalCapitalization | 15.38M | 56.98M | 43.36M | 76.27M |
| TotalEquityGrossMinorityInterest | -12.17M | 29.63M | 40.56M | 73.98M |
| StockholdersEquity | -12.17M | 29.63M | 40.56M | 73.98M |
| GainsLossesNotAffectingRetainedEarnings | 61.00K | 48.00K | 20.00K | 26.00K |
| OtherEquityAdjustments | 61.00K | 48.00K | 20.00K | 26.00K |
| TreasuryStock | 48.00K | 48.00K | 48.00K | 48.00K |
| RetainedEarnings | -408.07M | -340.22M | -286.17M | -223.09M |
| AdditionalPaidInCapital | 392.76M | 366.94M | 324.19M | 294.87M |
| CapitalStock | 3.12M | 2.92M | 2.57M | 2.22M |
| CommonStock | 3.12M | 2.92M | 2.57M | 2.22M |
| PreferredStock | 0.00 | 0.00 | 1.00K | 1.00K |
| TotalLiabilitiesNetMinorityInterest | 55.68M | 52.81M | 23.98M | 34.65M |
| TotalNonCurrentLiabilitiesNetMinorityInterest | 32.64M | 31.22M | 6.89M | 6.12M |
| OtherNonCurrentLiabilities | 1.60M | 564.00K | 527.00K | 244.00K |
| LongTermDebtAndCapitalLeaseObligation | 31.04M | 30.66M | 6.37M | 5.88M |
| LongTermCapitalLeaseObligation | 3.49M | 3.31M | 3.57M | 3.59M |
| LongTermDebt | 27.54M | 27.34M | 2.80M | 2.29M |
| CurrentLiabilities | 23.04M | 21.59M | 17.09M | 28.53M |
| OtherCurrentLiabilities | 3.39M | 2.82M | 151.00K | 357.00K |
| CurrentDeferredLiabilities | 5.91M | 8.37M | 10.53M | 11.22M |
| CurrentDeferredRevenue | 5.91M | 8.37M | 10.53M | 11.22M |
| CurrentDebtAndCapitalLeaseObligation | 2.11M | 1.84M | 574.00K | 498.00K |
| CurrentCapitalLeaseObligation | 858.00K | 519.00K | 574.00K | 498.00K |
| CurrentDebt | 1.25M | 1.33M | ||
| OtherCurrentBorrowings | 1.25M | 1.33M | ||
| PensionandOtherPostRetirementBenefitPlansCurrent | 3.30M | 2.43M | 1.79M | 2.75M |
| PayablesAndAccruedExpenses | 8.34M | 6.12M | 4.05M | 13.70M |
| CurrentAccruedExpenses | 2.14M | 1.88M | 876.00K | 5.64M |
| Payables | 6.20M | 4.24M | 3.17M | 8.06M |
| AccountsPayable | 6.20M | 4.24M | 3.17M | 8.06M |
| TotalAssets | 43.52M | 82.44M | 64.55M | 108.63M |
| TotalNonCurrentAssets | 19.18M | 20.76M | 21.58M | 10.14M |
| OtherNonCurrentAssets | 4.78M | 4.21M | 4.29M | 4.09M |
| NetPPE | 14.39M | 16.55M | 17.29M | 6.05M |
| AccumulatedDepreciation | -5.51M | -3.16M | -1.23M | -621.00K |
| GrossPPE | 19.91M | 19.71M | 18.52M | 6.67M |
| Leases | 16.09M | 16.09M | 2.09M | 1.60M |
| ConstructionInProgress | 0.00 | 14.54M | 3.05M | 232.00K |
| MachineryFurnitureEquipment | 3.82M | 3.62M | 1.89M | 2.02M |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 |
| CurrentAssets | 24.34M | 61.68M | 42.97M | 98.49M |
| OtherCurrentAssets | 5.77M | 3.17M | 3.51M | 7.56M |
| PrepaidAssets | 7.69M | |||
| CashCashEquivalentsAndShortTermInvestments | 18.57M | 58.51M | 39.46M | 90.93M |
| OtherShortTermInvestments | 0.00 | 13.37M | 0.00 | |
| CashAndCashEquivalents | 18.57M | 58.51M | 39.46M | 77.56M |
| CashFinancial | 18.57M | 58.51M | 39.46M |
| Line Item | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| FreeCashFlow | -57.15M | -45.53M | -72.53M | -64.54M |
| RepurchaseOfCapitalStock | 0.00 | |||
| RepaymentOfDebt | -1.00M | 0.00 | 0.00 | -10.00K |
| IssuanceOfDebt | 0.00 | 30.00M | 500.00K | 500.00K |
| IssuanceOfCapitalStock | 20.80M | 59.57M | 129.21M | |
| CapitalExpenditure | -185.00K | -3.38M | -10.48M | -4.46M |
| EndCashPosition | 18.89M | 58.82M | 39.46M | 77.56M |
| BeginningCashPosition | 58.82M | 39.46M | 77.56M | 95.11M |
| EffectOfExchangeRateChanges | 13.00K | 28.00K | -5.00K | 25.00K |
| ChangesInCash | -39.95M | 19.33M | -38.10M | -17.57M |
| FinancingCashFlow | 17.33M | 64.86M | 20.88M | 59.48M |
| CashFlowFromContinuingFinancingActivities | 17.33M | 64.86M | 20.88M | 59.48M |
| NetOtherFinancingCharges | -1.53M | -3.70M | -423.00K | -592.00K |
| NetCommonStockIssuance | 19.85M | 38.56M | 20.80M | 59.57M |
| CommonStockPayments | 0.00 | |||
| CommonStockIssuance | 20.80M | 59.57M | 129.21M | |
| NetIssuancePaymentsOfDebt | -1.00M | 30.00M | 500.00K | 500.00K |
| NetLongTermDebtIssuance | -1.00M | 30.00M | 500.00K | 500.00K |
| LongTermDebtPayments | -1.00M | 0.00 | 0.00 | -10.00K |
| LongTermDebtIssuance | 0.00 | 30.00M | 500.00K | 500.00K |
| InvestingCashFlow | -311.00K | -3.38M | 3.08M | -16.97M |
| CashFlowFromContinuingInvestingActivities | -311.00K | -3.38M | 3.08M | -16.97M |
| NetOtherInvestingChanges | 761.00K | -877.00K | ||
| NetInvestmentPurchaseAndSale | -126.00K | 0.00 | 13.55M | -13.27M |
| SaleOfInvestment | 0.00 | 17.50M | 0.00 | |
| PurchaseOfInvestment | -126.00K | 0.00 | -3.95M | -13.27M |
| NetPPEPurchaseAndSale | -185.00K | -3.38M | -10.48M | -4.46M |
| PurchaseOfPPE | -185.00K | -3.38M | -10.48M | -4.46M |
| OperatingCashFlow | -56.96M | -42.14M | -62.05M | -60.08M |
| CashFlowFromContinuingOperatingActivities | -56.96M | -42.14M | -62.05M | -60.08M |
| ChangeInWorkingCapital | -523.00K | 3.67M | -13.16M | 9.20M |
| ChangeInOtherCurrentLiabilities | -1.23M | -833.00K | -517.00K | -383.00K |
| ChangeInOtherCurrentAssets | 0.00 | 100.00K | ||
| ChangeInPayablesAndAccruedExpense | 3.31M | 4.14M | -12.34M | 9.49M |
| ChangeInPrepaidAssets | -2.61M | 361.00K | -296.00K | 91.00K |
| OtherNonCashItems | 1.31M | -1.15M | 4.00K | 6.61M |
| StockBasedCompensation | 7.71M | 7.43M | 9.22M | 10.54M |
| AssetImpairmentCharge | 0.00 | 4.07M | 0.00 | 761.00K |
| AmortizationOfSecurities | 0.00 | -182.00K | -99.00K | 0.00 |
| DeferredTax | 0.00 | -52.00K | ||
| DeferredIncomeTax | 0.00 | -52.00K | ||
| DepreciationAmortizationDepletion | 2.39M | 1.97M | 704.00K | 480.00K |
| DepreciationAndAmortization | 2.39M | 1.97M | 704.00K | 480.00K |
| OperatingGainsLosses | 363.00K | -426.00K | ||
| GainLossOnSaleOfPPE | 0.00 | 363.00K | 0.00 | |
| NetIncomeFromContinuingOperations | -67.85M | -54.05M | -63.08M | -86.80M |
SEC Filings
Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.
Public Trades for OCGN
| Date | User | Broker | Pattern | Type | Position Size | Entry Price | Trade P&L | Status |
|---|