Ocugen (NASDAQ:OCGN) Rating Reiterated by HC Wainwright

Ocugen NASDAQOCGN is a biopharmaceutical company that focuses on developing and commercializing novel gene therapies for rare genetic diseases. The company's flagship product is Cerezyme, an enzyme replacement therapy (ERT) for the treatment of Gaucher disease, which is a lysosomal storage disorder.

On Thursday, research analysts at HC Wainwright reissued their "buy" rating on Ocugen's stock with a $7.00 price objective. This means that they believe the stock is undervalued and could potentially reach a price of $7.00 in the future.

It's worth noting that Ocugen's stock has been performing poorly in recent months, down 20.3% from its opening price on Thursday. Additionally, the company's 50-day simple moving average (SMA) is currently at $0.68, which is below its current stock price of $0.79.

Despite these challenges, Ocugen continues to make progress in developing and commercializing its products. For example, the company recently announced that it has received regulatory approval for Cerezyme in Europe, which expands its potential market for the product. Additionally, Ocugen is currently conducting clinical trials for several other gene therapies, including a treatment for Pompe disease and a therapy for inherited retinal diseases.

Overall, while Ocugen's stock has been performing poorly in recent months, the company continues to make progress in developing and commercializing its products. The reiteration of HC Wainwright's "buy" rating on the stock suggests that there may be potential for the stock to recover in the future.