Ocugen (OCGN) closed at $6.71 in the latest trading session, marking a -1.61% move from the prior day. This change lagged the S&P 500's 0.54% loss on the day.
Prior to today's trading, shares of the biotech knee implant developer had lost 12.9% over the past month. This has lagged the Medical sector's loss of 3.77% and the S&P 500's gain of 3.05% in that time.
OCGN will be looking to display strength as it nears its next earnings release. On that day, OCGN is projected to report earnings of -$0.03 per share, which would represent year-over-year growth of 84.21%.
Investors should also note any recent changes to analyst estimates for OCGN. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 16.23% lower. OCGN is currently a Zacks Rank #4 (Sell).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 208, which puts it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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