In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on Ocugen, with a price target of $7.00.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors that highlight Ocugen’s potential for growth and success. The initiation of the pivotal GARDian3 study for OCU410ST as a treatment for Stargardt disease marks a significant step forward, with the study already enrolling patients and the first dose administered. This progress, coupled with the unmet need for treatments in this area, positions Ocugen favorably for future developments.
Additionally, the ongoing Phase 3 study for OCU400 in retinitis pigmentosa has shown promising safety results, with no serious adverse events reported. The company’s financial health, demonstrated by revenues exceeding expectations and a solid cash position, further supports the positive outlook. The potential for a cash infusion from a new partnership could extend the financial runway, enhancing stability. These elements, combined with a risk-adjusted net present value analysis, underpin the Buy rating and the 12-month price target of $7.00.
In another report released today, Noble Financial also reiterated a Buy rating on the stock with a $8.00 price target.