Why Ocugen (OCGN) Is Advancing Today

Ocugen (OCGN) is climbing 5% after investment bank H.C. Wainwright raised its price target on the shares to $8 from $7. OCGN, whose stock is currently trading around 69 cents, develops gene therapies for diseases the affect eyes.

Why H.C. Wainwright IS Bullish on OCGN

The results of the first stage of a Phase 1/2 trial of Ocugen’s OCU410 indicated that the injection is more effective at combating geographic atrophy (GA) secondary to dry age-related macular degeneration (dAMD) than Apellis’ (APL) pegcetacoplan, H.C. Wainwright reported. Pegcetacoplan was approved by the FDA as a treatment for GA in 2023.

Data from of OCU410 study showed that the vision of the nine patients who received the injection meaningfully improved, as they all were able to read two lines lower on charts after receiving the treatment. Additionally, the GA lesions in the treated eyes of the two patients who had received the full nine months of treatment progressed 44% slower than in their untreated eyes.

H.C. Wainwright kept a Buy rating on the stock.

In the last month, the shares have fallen 3%, while they have tumbled 31% in the last three months. So far in 2025, they are down 14%.

While we acknowledge the potential of OCGN, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than OCGN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.