Stocks · Healthcare · Biotechnology
Ocugen, Inc. OCGN
$1.02 +2.00% Close, Oct 2, 2026 · NASDAQ · Market cap $345.9M
Weak trendExpensive vs sector
Next earnings report: Nov 4, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Operating margin narrowed to -1504.4% from -1165.1% a year earlier.
- The diluted share count rose 16.0% in a year.
- The stock is 59% below its highest close of the past year.
PromtFinance scores
Each score is a percentile within the Healthcare sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 24%
- Revenue growth, 3-year CAGRTop 29%
- Revenue growth accelerationBottom 34%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 11%
- Gross marginTop 2%
- Operating marginBottom 10%
- Accruals (lower is better)Top 19%
- Interest coverBottom 35%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 28%
- Free-cash-flow yieldBottom 26%
- EBITDA / enterprise valueBottom 27%
- Sales / enterprise valueBottom 10%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 22%
- 6-month returnBottom 7%
- 1-year return vs S&P 500Bottom 15%
- Distance from 52-week highBottom 14%
- Trend checklist (0–4)Bottom 14%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 22%
- Consecutive EPS beatsBottom 20%
- Share of analysts rating BuyTop 38%
- Upside to consensus price targetTop 7%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 30%
- Maximum drawdown, 3 yearsBottom 44%
- Beta vs S&P 500 (lower is better)Top 40%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | -1.3% | -3.7% | ↓ |
| Gross margin | 100.0% | 100.0% | → |
| Operating margin | -1165.1% | -1504.4% | ↓ |
| FCF margin | -1100.2% | -1340.1% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | -3.7% | -1.3% | ↓ | Bottom 24% |
| Gross margin | 100.0% | 100.0% | → | Top 2% |
| Operating margin | -1504.4% | -1165.1% | ↓ | Bottom 10% |
| Net margin | -1786.3% | -1197.7% | ↓ | — |
| Free-cash-flow margin | -1340.1% | -1100.2% | ↓ | — |
| Return on invested capital | -92.7% | — | Bottom 11% | |
| Revenue growth, 3-year CAGR | 21.0% | — | Top 29% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -16.6%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 201.0%
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- Net cash
- Interest cover (operating income / interest)How many times operating profit covers interest.
- -8.2×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- -12.34%
- Shareholder yield
- -12.34%
- Share count change, 1 year
- +16.0%
- Share count change, 3-year CAGR
- +12.4%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 6, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 0
- Beats in the last 8 reports
- 2 of 8
- Average EPS surprise, last 4
- -18.2%
- Average 2-day reaction, last 8
- -4.6%
- Positive 20 days after report
- 4 of 8
Analysts
- Consensus price target
- $5.00
- Target vs current price
- +390.2%
- Analysts with a rating
- 6
- Share rating Buy or Strong Buy
- 83%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 6, 2026 | -31.3% | -3.1% | +9.4% | +3.1% | — |
| May 5, 2026 | -20.0% | -19.5% | -20.0% | -27.6% | -31.9% |
| Mar 4, 2026 | +0.0% | +5.4% | -4.8% | -2.7% | -24.2% |
| Nov 5, 2025 | -21.7% | -1.4% | -7.0% | -15.4% | +0.0% |
| Aug 1, 2025 | +16.7% | -3.5% | -2.9% | +1.9% | +56.3% |
| May 9, 2025 | +16.7% | -2.8% | +2.9% | +53.8% | +38.5% |
| Mar 5, 2025 | +0.0% | -2.8% | -7.4% | +9.7% | +41.4% |
| Nov 8, 2024 | +0.0% | -8.7% | -7.4% | -19.4% | -32.9% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 6, 2026 | -$0.07 | -$0.05 | -31.3% | $1.5M |
| May 5, 2026 | -$0.06 | -$0.05 | -20.0% | $1.5M |
| Mar 4, 2026 | -$0.06 | -$0.06 | +0.0% | -$193,000 |
| Nov 5, 2025 | -$0.07 | -$0.06 | -21.7% | $1.8M |
| Aug 1, 2025 | -$0.05 | -$0.06 | +16.7% | $1.4M |
| May 9, 2025 | -$0.05 | -$0.06 | +16.7% | $1.5M |
| Mar 5, 2025 | -$0.05 | -$0.05 | +0.0% | $764,000 |
| Nov 8, 2024 | -$0.05 | -$0.05 | +0.0% | $1.1M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| EV / Sales | 72.89× | — | — | Bottom 10% |
| Free-cash-flow yield | -17.74% | — | — | Bottom 26% |
| Earnings yield | -24.75% | — | — | Bottom 28% |
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✗ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -10.9%
- 200-day average slope (20 days)
- -1.0%
- Distance from 50-day average
- -16.3%
- Distance from 200-day average
- -31.7%
- RSI (14)
- 39.9
- Relative volume
- 0.37×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 68.4%
- Volatility vs own 5-year history
- 21th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.96
- Correlation with S&P 500
- 0.17
- Current drawdown from 1-year high
- -58.9%
- Maximum drawdown, 3 years
- -73.9%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Feb 8, 2021 | Nov 1, 2023 | -97.7% | 688 days | Not yet recovered |
| Jan 4, 2021 | Jan 27, 2021 | -45.9% | 16 days | 4 days (Feb 2, 2021) |
| Dec 23, 2020 | Dec 24, 2020 | -32.3% | 1 days | 5 days (Jan 4, 2021) |
| Oct 9, 2020 | Nov 2, 2020 | -23.0% | 16 days | 35 days (Dec 22, 2020) |
| Feb 2, 2021 | Feb 3, 2021 | -13.8% | 1 days | 2 days (Feb 5, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $345.9M
- EPS, diluted (TTM)
- -$0.25
- Revenue (TTM)
- $4.6M
- 52-week range
- $0.97 – $2.73
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $0 | $2.5M | $6.0M | $4.1M | $4.4M |
| Gross profit | $0 | $2.5M | $5.3M | $2.1M | $2.0M |
| Operating income | -$58.0M | -$89.1M | -$65.5M | -$54.8M | -$62.9M |
| Net income | -$58.4M | -$86.8M | -$63.1M | -$54.1M | -$67.8M |
| EPS (diluted) | -$0.30 | -$0.40 | -$0.26 | -$0.20 | -$0.23 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1M | $764,000 | $1.5M | $1.4M | $1.8M | -$193,000 | $1.5M | $1.5M |
| Net income | -$13.0M | -$13.9M | -$15.3M | -$14.7M | -$20.1M | -$17.7M | -$19.2M | -$24.9M |
| EPS (diluted) | -$0.05 | -$0.05 | -$0.05 | -$0.05 | -$0.07 | -$0.06 | -$0.06 | -$0.07 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | -$47.9M | -$60.1M | -$62.1M | -$42.1M | -$57.0M |
| Capital expenditure | -$939,000 | -$4.5M | -$10.5M | -$3.4M | -$185,000 |
| Free cash flow | -$48.9M | -$64.5M | -$72.5M | -$45.5M | -$57.1M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $129.2M | $59.6M | $20.8M | $38.6M | $18.3M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $100.1M
- Total assets
- $124.2M
- Total liabilities
- $140.8M
- Total debt
- $88.0M
- Net debt
- -$12.1M
- Shareholders’ equity
- -$16.6M
As of Jun 30, 2026 (filed Aug 6, 2026).
Short interest
- Shares sold short
- 106,062,298
- Days to cover
- 10.39
- Change vs previous report
- +7.9%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Sep 30, 2019
- 1-for-60