OCGN Stock Analysis: Ocugen | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 518m USD | 12M Return: 54.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 9.96M
Qual. Beats: -1
Rev. Trend: -39.9%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Ocugen, Inc. (OCGN) is a clinical-stage biopharmaceutical firm specializing in gene and cell therapies, biologics, and vaccines. The company’s primary focus is on retinal diseases, utilizing a modifier gene therapy platform designed to address multiple genetic mutations with a single product candidate. Its lead asset, OCU400, has progressed to Phase 3 clinical trials for retinitis pigmentosa, while other candidates target dry age-related macular degeneration and Stargardt disease.
The biotechnology sector often requires significant capital expenditure and long lead times, as gene therapies must navigate rigorous multi-phase FDA approval processes before commercialization. Beyond ophthalmology, Ocugen is developing regenerative treatments for orthopedic cartilage repair and a portfolio of inhaled vaccines for COVID-19 and seasonal influenza. The company utilizes strategic partnerships, such as its agreement with CanSino Biologics, to manage the complex manufacturing requirements inherent in the biologics business model.
Investors may find additional data points and valuation metrics on ValueRay to assist in their due diligence. Ocugen is headquartered in Malvern, Pennsylvania, and operates within the high-risk, high-reward landscape of innovative genomic medicine.
- OCU400 Phase 3 clinical trial results dictate long-term gene therapy commercialization viability
- FDA regulatory approval timeline for modifier gene therapies impacts investor valuation
- Research and development expenses for multi-stage pipeline necessitate frequent capital raises
- Strategic manufacturing partnership with CanSino Biologics influences production scalability and margins
- Expansion into dry AMD market with OCU410 determines future revenue diversification potential
| Net Income: -71.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: -1.05 > 0.02 and ΔFCF/TA -24.10 > 1.0 |
| NWC/Revenue: 399.6% < 20% (prev 598.8%; Δ -199.2% < -1%) |
| CFO/TA -1.04 > 3% & CFO -59.4m > Net Income -71.7m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.86 > 1.5 & < 3 |
| Outstanding Shares: last quarter (320.4m) vs 12m ago 9.74% < -2% |
| Gross Margin: 46.49% > 18% (prev 56.48%; Δ -9.98% > 0.5%) |
| Asset Turnover: 7.36% > 50% (prev 7.02%; Δ 0.34% > 0%) |
| Interest Coverage Ratio: -13.17 > 6 (EBIT TTM -66.2m / Interest Expense TTM 5.02m) |
| A: 0.31 (Total Current Assets 38.6m - Total Current Liabilities 20.7m) / Total Assets 56.9m |
| B: -7.51 (Retained Earnings -427.2m / Total Assets 56.9m) |
| C: -1.09 (EBIT TTM -66.2m / Avg Total Assets 60.7m) |
| D: 0.11 (Book Value of Equity 5.80m / Total Liabilities 51.1m) |
| Altman-Z'' = -29.63 = D |
As of July 08, 2026, the stock is trading at USD 1.50 with a total of 4,731,344 shares traded. Over the past week, the price has changed by -10.18%, over one month by +19.05%, over three months by -13.79% and over the past year by +54.64%.
Current recommended Stop Loss: 1.30 (which is 13.3% or 2 ATR below the current price).
Ocugen has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy OCGN.
- StrongBuy: 2
- Buy: 2
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 11.4 | 662% |
P/E Forward = 13.0719
P/S = 115.9997
P/B = 89.2228
Revenue TTM = 4.46m USD
EBIT TTM = -66.2m USD
EBITDA TTM = -64.1m USD
Long Term Debt = 24.2m USD (from longTermDebt, last quarter)
Short Term Debt = 5.86m USD (from shortTermDebt, last quarter)
Debt = 37.4m USD (from shortLongTermDebtTotal, last quarter) + Leases 4.10m
Net Debt = 5.54m USD (calculated: Debt 37.4m - CCE 31.9m)
Enterprise Value = 523.5m USD (517.9m + Debt 37.4m - CCE 31.9m)
Interest Coverage Ratio = -13.17 (Ebit TTM -66.2m / Interest Expense TTM 5.02m)
EV/FCF = -8.79x (Enterprise Value 523.5m / FCF TTM -59.6m)
FCF Yield = -11.38% (FCF TTM -59.6m / Enterprise Value 523.5m)
FCF Margin = -1.33k% (FCF TTM -59.6m / Revenue TTM 4.46m)
Net Margin = -1.61k% (Net Income TTM -71.7m / Revenue TTM 4.46m)
Gross Margin = 46.49% ((Revenue TTM 4.46m - Cost of Revenue TTM 2.39m) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 9.20 (Enterprise Value 523.5m / Total Assets 56.9m)
Interest Expense / Debt = 13.43% (Interest Expense 5.02m / Debt 37.4m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -52.3m (EBIT -66.2m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.86 (Total Current Assets 38.6m / Total Current Liabilities 20.7m)
Debt / Equity = 6.44 (Debt 37.4m / totalStockholderEquity, last quarter 5.80m)
Debt / EBITDA = -0.09 (negative EBITDA) (Net Debt 5.54m / EBITDA -64.1m)
Debt / FCF = -0.09 (negative FCF - burning cash) (Net Debt 5.54m / FCF TTM -59.6m)
Total Stockholder Equity = 56.0k (last 4 quarters mean from totalStockholderEquity)
RoA = -118.1% (out of range, set to none)
RoE = -128k% (out of range, set to none) (Net Income TTM -71.7m / Total Stockholder Equity 56.0k)
RoCE = -272.9% (out of range, set to none) (EBIT -66.2m / Capital Employed (Equity 56.0k + L.T.Debt 24.2m))
RoIC = -124.9% (out of range, set to none) (NOPAT -52.3m / Invested Capital 41.8m)
WACC = 10.45% (E(517.9m)/V(555.3m) * Re(10.44%) + D(37.4m)/V(555.3m) * Rd(13.43%) * (1-Tc(0.21)))
Discount Rate = 10.44% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 100.00 | Cagr: 10.38%
[DCF] Fair Price = unknown (Cash Flow -59.6m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -1.29 | # QB: -1
Revenue Correlation: -39.94 | Revenue CAGR: -18.00% | SUE: 1.42 | # QB: 1
EPS current Quarter (2026-06-30): EPS=-0.05 | Chg30d=-3.09% | Revisions=-12% | Analysts=6
EPS next Quarter (2026-09-30): EPS=-0.05 | Chg30d=+0.00% | Revisions=-22% | Analysts=6
EPS current Year (2026-12-31): EPS=-0.22 | Chg30d=-3.86% | Revisions=-22% | GrowthEPS=+2.9% | GrowthRev=-7.6%
EPS next Year (2027-12-31): EPS=-0.23 | Chg30d=-634.09% | Revisions=-29% | GrowthEPS=-5.2% | GrowthRev=+170.2%
[Analyst] Revisions Ratio: -29% (up=7, down=14)