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Ocugen (OCGN) Dips More Than Broader Markets: What You Should Know
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Ocugen (OCGN - Free Report) closed the most recent trading day at $10.17, moving -0.59% from the previous trading session. This change lagged the S&P 500's 0.44% loss on the day. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 0.72%.
Coming into today, shares of the biotech knee implant developer had gained 368.38% in the past month. In that same time, the Medical sector gained 1.27%, while the S&P 500 gained 4.46%.
Wall Street will be looking for positivity from OCGN as it approaches its next earnings report date.
Investors should also note any recent changes to analyst estimates for OCGN. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 597.62% higher within the past month. OCGN is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, OCGN is holding a Forward P/E ratio of 20.98. This valuation marks a discount compared to its industry's average Forward P/E of 26.19.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 203, which puts it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow OCGN in the coming trading sessions, be sure to utilize Zacks.com.
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Ocugen (OCGN) Dips More Than Broader Markets: What You Should Know
Ocugen (OCGN - Free Report) closed the most recent trading day at $10.17, moving -0.59% from the previous trading session. This change lagged the S&P 500's 0.44% loss on the day. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 0.72%.
Coming into today, shares of the biotech knee implant developer had gained 368.38% in the past month. In that same time, the Medical sector gained 1.27%, while the S&P 500 gained 4.46%.
Wall Street will be looking for positivity from OCGN as it approaches its next earnings report date.
Investors should also note any recent changes to analyst estimates for OCGN. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 597.62% higher within the past month. OCGN is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, OCGN is holding a Forward P/E ratio of 20.98. This valuation marks a discount compared to its industry's average Forward P/E of 26.19.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 203, which puts it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow OCGN in the coming trading sessions, be sure to utilize Zacks.com.