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Ocugen (OCGN) to Report Q1 Earnings: What's in the Cards?

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Ocugen, Inc. (OCGN - Free Report) is likely to provide updates on its pipeline developments when it reports first-quarter 2021 results.

The company has a disappointing earnings surprise history, having missed expectations in three of the trailing four quarters. The average negative earnings surprise was 274.44%.

Shares of Ocugen have surged 592.3% so far this year against the industry’s decline of 2%.

Let's see how things have shaped up for this announcement.

Factors to Note

With no marketed drugs in its portfolio, Ocugen is unlikely to have recorded any revenues during the first quarter. Moreover, the company has no clinical-stage candidates in its portfolio.

The company is planning to submit an Investigational New Drug (“IND”) application for its gene therapy candidate, OCU400, in the second half of this year. The IND application is seeking FDA’s approval to initiate two early-stage studies, anticipated to start by the end of 2021.

Ocugen’s operating expenses are expected to have been higher during the quarter due to costs related to preparation of IND filing and initiation of the clinical studies. Apart from OCU400, the company has a couple of pre-clinical candidates, which are likely to have driven operating costs further. However, discontinuation of development of pipeline candidate, OCU300, in June 2020 may have offset some of the increased costs.

In February 2021, Ocugen and India-based Bharat Biotech entered into a definitive agreement to co-develop, supply and commercialize Bharat Biotech’s COVAXIN, an advanced-stage whole-virion inactivated COVID-19 vaccine candidate, for the U.S. market. Ocugen is working with U.S. regulatory authorities to develop the regulatory pathway to emergency use authorization for COVAXIN in the country. Investors will be keen to know about related developments on the company’s earnings call.

What Our Model Indicates

Our proven model does not conclusively predict an earnings beat for Ocugen this earnings season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below.

Earnings ESP: Ocugen has an Earnings ESP of 0.00%. Both the Zacks Consensus Estimate and the Most Accurate Estimate stand at earnings of 50 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: The company currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Ocugen, Inc. Price and EPS Surprise

Ocugen, Inc. Price and EPS Surprise

Ocugen, Inc. price-eps-surprise | Ocugen, Inc. Quote

Stocks to Consider

Here are some biotech stocks that have the right mix of elements to beat on earnings this time around:

Milestone Pharmaceuticals Inc. (MIST - Free Report) has an Earnings ESP of +19.21% and a Zacks Rank #2.

AzurRx BioPharma (AZRX - Free Report) has an Earnings ESP of +8.70 % and a Zacks Rank #2.

G1 Therapeutics, Inc. (GTHX - Free Report)  has an Earnings ESP of +3.67% and a Zacks Rank #2.

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