Ocugen, Inc. (NASDAQ:OCGN) is one of the High-Flying Penny Stocks to Buy. On March 11, Ocugen, Inc. (NASDAQ:OCGN) was initiated with an Outperform rating and a $10 price target at Oppenheimer.
The firm noted that they find the company to be an upcoming leader in gene therapy for blinding ocular disorders. Oppenheimer highlighted the company’s lead asset OCU400, which is currently in Phase 3 trials for retinitis pigmentosa.
Retinitis pigmentosa is a disease affecting vision. OCU400 targets retinitis pigmentosa with a gene-agnostic approach that could treat multiple genetic mutations, unlike narrower therapies.
The firm noted that a potential approval for OCU400 can offer a near-term opportunity for the company to enter a sizable, underserved rare disease market.
Moreover, the firm also noted that two other programs for progressively degenerative retinal diseases are in development. Therefore, management is expecting three FDA applications over the next 3 years.
Ocugen, Inc. (NASDAQ:OCGN) is a clinical-stage biotechnology company focused on developing novel gene and cell therapies, biologics, and vaccines to treat retinal diseases and support public health.
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