In a report released yesterday, Michael Okunewitch from Maxim Group maintained a Buy rating on Ocugen, with a price target of $4.00.
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Michael Okunewitch has given his Buy rating due to a combination of factors that highlight Ocugen’s strategic advancements and promising future prospects. The recent completion of a licensing agreement with Kwangdong Pharmaceutical in Korea is a significant milestone. This agreement is structured to provide Ocugen with favorable economic terms, including upfront payments, royalties, and sales milestones, which enhance the company’s financial outlook.
Furthermore, Ocugen’s progress in its gene therapy platform is noteworthy, with the company targeting three Biologics License Application (BLA) filings over the next three years. The ongoing Phase 3 trial for OCU400 in retinitis pigmentosa is on track for a 2026 BLA filing, supported by its orphan drug designation and potential for priority review by the FDA. These strategic initiatives and developments position Ocugen well for future growth, justifying the Buy rating.