Ocugen stock has had a turbulent 18 months in the stock market. The company surged in the first half of 2018 as it sought to break into the COVID-19 vaccine space, but its delays discouraged some investors. Despite this, Ocugen remains among the top 100 stocks held on Robinhood. As of February 2022, analysts are expecting Ocugen stock to reach $5.83, a 217% upside over its current price.
The company has partnered with Washington University to accelerate the development of its Covid-19 nasal spray vaccine. The deal will expedite the process of obtaining FDA approval for the drug. However, the Covid-19 vaccine has yet to enter clinical trials and has a long way to go. In the meantime, investors should keep in mind that Ocugen’s stock has fallen nearly 60% in 2018.
Ocugen is focusing on developing vaccines for eye-related diseases. Recently, the company decided to pursue opportunities in the coronavirus vaccine market. As part of this deal, Ocugen signed a deal with Bharat Biotech, a company based in India. The companies will commercialize the vaccine Covaxin in the United States. As part of the deal, Ocugen will keep 45% of the vaccine profits.