Ocugen (OCGN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on the stock and has a $7.00 price target.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors surrounding Ocugen’s strategic moves and financial projections. Ocugen’s decision to place its regenerative medicine asset, NeoCart, into a new subsidiary, OrthoCellix, and enter a reverse merger with Carisma Therapeutics is seen as a positive step. This transaction is expected to focus on the development of NeoCart for knee cartilage defects, with plans to initiate a Phase 3 study, which could potentially lead to a market launch by the end of 2029.
Additionally, the Buy rating is supported by a risk-adjusted net present value analysis of Ocugen’s other products, OCU400, OCU410, and OCU200. The analysis uses a 10% discount rate and projects a valuation of $2.5 billion, which, combined with net cash, supports a 12-month price target of $7.00 per share. While there are risks associated with commercialization, clinical trials, partnerships, and other factors, the strategic focus and financial potential underpin the positive outlook for Ocugen’s stock.
In another report released on June 17, Noble Financial also reiterated a Buy rating on the stock with a $8.00 price target.