Ocugen, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Michael Okunewitch from Maxim Group maintained a Buy rating on the stock and has a $4.00 price target.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Michael Okunewitch has given his Buy rating due to a combination of factors including Ocugen’s strategic advancements and financial positioning. The company has reported a solid cash position, bolstered by recent equity financing, which provides a financial runway into late 2026. This is crucial as Ocugen progresses with its pivotal clinical programs, particularly the Phase 3 liMeliGhT study for retinitis pigmentosa, which is nearing completion and could lead to a Biologics License Application (BLA) filing by mid-2026.
Furthermore, Ocugen’s pipeline is robust, with the commencement of the pivotal GARDian study for Stargardt disease and anticipated data from other studies such as OCU200 in macular edema. The company’s strategic transactions, including the spinout of Orthocellix and a partnership agreement for OCU400 in Korea, demonstrate strong execution and a focused approach towards its gene therapy platform. These developments, alongside the ambitious goal of targeting three BLA filings in the coming years, underpin the Buy rating as they highlight Ocugen’s potential for significant value creation.
In another report released on August 4, Noble Financial also reiterated a Buy rating on the stock with a $8.00 price target.