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Ocugen (OCGN) Stock Sinks As Market Gains: What You Should Know

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In the latest trading session, Ocugen (OCGN - Free Report) closed at $9.90, marking a -1% move from the previous day. This change lagged the S&P 500's 0.65% gain on the day. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 1.05%.

Heading into today, shares of the biotech knee implant developer had lost 9.01% over the past month, lagging the Medical sector's loss of 5.04% and the S&P 500's gain of 0.36% in that time.

Investors will be hoping for strength from OCGN as it approaches its next earnings release.

Investors should also note any recent changes to analyst estimates for OCGN. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. The Zacks Consensus EPS estimate has moved 245.46% higher within the past month. OCGN is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, OCGN currently has a Forward P/E ratio of 5.54. This represents a discount compared to its industry's average Forward P/E of 25.74.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 27% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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