(OCGN) Ocugen - Ratings and Ratios
Gene Therapy, Vaccine, Retinal Disease, AMD, Cartilage
OCGN EPS (Earnings per Share)
OCGN Revenue
Description: OCGN Ocugen October 28, 2025
Ocugen Inc. (NASDAQ:OCGN) is a U.S.-based biopharma that develops gene- and cell-based therapies, biologics, and vaccines for ophthalmic and infectious-disease indications. Its lead candidates are OCU400 (Phase 3 for retinitis pigmentosa, Phase 1/2 for Leber congenital amaurosis), OCU410/OCU410ST (Phase 1/2 for dry AMD and Stargardt disease), and OCU200 (fusion protein targeting diabetic macular edema, diabetic retinopathy, and wet AMD). The firm also pursues NeoCart (Phase 3 for knee cartilage repair) and a vaccine portfolio that includes OCU500 (COVID-19), OCU510 (seasonal flu), and OCU520 (combined flu/COVID-19), supported by collaborations with the NIAID and a manufacturing partnership with CanSino Biologics.
As of the most recent 10-Q (Q2 2024), Ocugen reported cash and cash equivalents of roughly $150 million, giving it ~12 months of runway at its current burn rate of $12–13 million per quarter. The global gene-therapy market is projected to grow at a CAGR of ~15 % through 2028, driven by rising prevalence of inherited retinal diseases and expanding reimbursement frameworks. However, the company’s reliance on a single manufacturing partner and the early-stage status of most pipelines introduce significant execution risk, which is reflected in its current market capitalization of about $200 million and a price-to-sales multiple well above the biotech median.
For a deeper quantitative breakdown of OCGN’s risk-adjusted valuation, the ValueRay platform offers a transparent model worth reviewing.
OCGN Stock Overview
| Market Cap in USD | 487m |
| Sub-Industry | Biotechnology |
| IPO / Inception | 2014-12-03 |
OCGN Stock Ratings
| Growth Rating | 7.34% |
| Fundamental | 39.1% |
| Dividend Rating | - |
| Return 12m vs S&P 500 | 10.4% |
| Analyst Rating | 4.50 of 5 |
OCGN Dividends
Currently no dividends paidOCGN Growth Ratios
| Growth Correlation 3m | 71.3% |
| Growth Correlation 12m | 67.5% |
| Growth Correlation 5y | -57.7% |
| CAGR 5y | -8.48% |
| CAGR/Max DD 3y (Calmar Ratio) | -0.11 |
| CAGR/Mean DD 3y (Pain Ratio) | -0.17 |
| Sharpe Ratio 12m | -0.05 |
| Alpha | -18.05 |
| Beta | 4.202 |
| Volatility | 69.94% |
| Current Volume | 6109.8k |
| Average Volume 20d | 3541.9k |
| Stop Loss | 1.2 (-11.8%) |
| Signal | -0.74 |
Piotroski VR‑10 (Strict, 0-10) 1.5
| Net Income (-56.9m TTM) > 0 and > 6% of Revenue (6% = 285.2k TTM) |
| FCFTA -0.98 (>2.0%) and ΔFCFTA 36.76pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 313.3% (prev 5.42%; Δ 307.9pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA -0.97 (>3.0%) and CFO -51.7m > Net Income -56.9m (YES >=105%, WARN >=100%) |
| NO Net Debt/EBITDA fails (EBITDA <= 0) |
| Current Ratio 1.83 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (292.0m) change vs 12m ago 13.47% (target <= -2.0% for YES) |
| Gross Margin 87.42% (prev 20.63%; Δ 66.79pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 10.10% (prev 29.33%; Δ -19.23pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio -28.09 (EBITDA TTM -52.3m / Interest Expense TTM 1.97m) >= 6 (WARN >= 3) |
Altman Z'' -36.24
| (A) 0.28 = (Total Current Assets 32.9m - Total Current Liabilities 18.0m) / Total Assets 53.6m |
| (B) -6.91 = Retained Earnings (Balance) -370.3m / Total Assets 53.6m |
| warn (B) unusual magnitude: -6.91 — check mapping/units |
| (C) -1.18 = EBIT TTM -55.4m / Avg Total Assets 47.1m |
| (D) -7.27 = Book Value of Equity -367.4m / Total Liabilities 50.5m |
| Total Rating: -36.24 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 39.07
| 1. Piotroski 1.50pt = -3.50 |
| 2. FCF Yield -10.61% = -5.0 |
| 3. FCF Margin data missing |
| 4. Debt/Equity 10.75 = -2.50 |
| 5. Debt/Ebitda -0.11 = -2.50 |
| 7. RoE -255.3% = -2.50 |
| 8. Rev. Trend 17.33% = 1.30 |
| 9. EPS Trend 75.40% = 3.77 |
What is the price of OCGN shares?
Over the past week, the price has changed by -12.82%, over one month by -22.73%, over three months by +36.00% and over the past year by +25.93%.
Is Ocugen a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of OCGN is around 1.25 USD . This means that OCGN is currently overvalued and has a potential downside of -8.09%.
Is OCGN a buy, sell or hold?
- Strong Buy: 2
- Buy: 2
- Hold: 0
- Sell: 0
- Strong Sell: 0
What are the forecasts/targets for the OCGN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 8.2 | 502.9% |
| Analysts Target Price | 8.2 | 502.9% |
| ValueRay Target Price | 1.5 | 10.3% |
OCGN Fundamental Data Overview October 30, 2025
P/E Forward = 15.2207
P/S = 102.4812
P/B = 181.1204
Beta = 4.202
Revenue TTM = 4.75m USD
EBIT TTM = -55.4m USD
EBITDA TTM = -52.3m USD
Long Term Debt = 28.0m USD (from longTermDebt, last quarter)
Short Term Debt = 1.71m USD (from shortTermDebt, last quarter)
Debt = 32.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 5.81m USD (from netDebt column, last quarter)
Enterprise Value = 493.0m USD (487.2m + Debt 32.8m - CCE 27.0m)
Interest Coverage Ratio = -28.09 (Ebit TTM -55.4m / Interest Expense TTM 1.97m)
FCF Yield = -10.61% (FCF TTM -52.3m / Enterprise Value 493.0m)
FCF Margin = -1100 % (FCF TTM -52.3m / Revenue TTM 4.75m)
Net Margin = -1198 % (Net Income TTM -56.9m / Revenue TTM 4.75m)
Gross Margin = 87.42% ((Revenue TTM 4.75m - Cost of Revenue TTM 598.0k) / Revenue TTM)
Gross Margin QoQ = 100.0% (prev 100.0%)
Tobins Q-Ratio = 9.20 (Enterprise Value 493.0m / Total Assets 53.6m)
Interest Expense / Debt = 3.22% (Interest Expense 1.06m / Debt 32.8m)
Taxrate = 21.0% (US default 21%)
NOPAT = -43.8m (EBIT -55.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.83 (Total Current Assets 32.9m / Total Current Liabilities 18.0m)
Debt / Equity = 10.75 (Debt 32.8m / totalStockholderEquity, last quarter 3.05m)
Debt / EBITDA = -0.11 (negative EBITDA) (Net Debt 5.81m / EBITDA -52.3m)
Debt / FCF = -0.11 (negative FCF - burning cash) (Net Debt 5.81m / FCF TTM -52.3m)
Total Stockholder Equity = 22.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -106.2% (out of range, set to none)
RoE = -255.3% (Net Income TTM -56.9m / Total Stockholder Equity 22.3m)
RoCE = -110.0% (out of range, set to none) (EBIT -55.4m / Capital Employed (Equity 22.3m + L.T.Debt 28.0m))
RoIC = -99.18% (out of range, set to none) (NOPAT -43.8m / Invested Capital 44.1m)
WACC = 20.30% (E(487.2m)/V(520.0m) * Re(21.50%) + D(32.8m)/V(520.0m) * Rd(3.22%) * (1-Tc(0.21)))
Discount Rate = 21.50% (= CAPM, Blume Beta Adj.) -> capped to 17.95%
Shares Correlation 3-Years: 100.0 | Cagr: 6.69%
Fair Price DCF = unknown (Cash Flow -52.3m)
EPS Correlation: 75.40 | EPS CAGR: 202.6% | SUE: 4.0 | # QB: 2
Revenue Correlation: 17.33 | Revenue CAGR: 154.6% | SUE: 0.49 | # QB: 0
Additional Sources for OCGN Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle