Ocugen, Inc.

BMV:OCGN * Stock Report

Market Cap: Mex$5.4b

Ocugen Valuation

Is OCGN * undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of OCGN * when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: OCGN * (MX$19.35) is trading below our estimate of fair value (MX$801.98)

Significantly Below Fair Value: OCGN * is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for OCGN *?

Key metric: As OCGN * barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for OCGN *. This is calculated by dividing OCGN *'s market cap by their current book value.
What is OCGN *'s PB Ratio?
PB Ratio6.5x
BookUS$40.63m
Market CapUS$264.34m

Price to Book Ratio vs Peers

How does OCGN *'s PB Ratio compare to its peers?

The above table shows the PB ratio for OCGN * vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average3.3x
ADAP Adaptimmune Therapeutics
2.1x-12.3%US$162.8m
6875 Pharmosa Biopharm
3.9xn/aNT$7.3b
TSHA Taysha Gene Therapies
5.7x-0.4%US$506.2m
ARTV Artiva Biotherapeutics
1.4x-20.6%US$264.1m
OCGN * Ocugen
6.5x47.9%Mex$264.3m

Price-To-Book vs Peers: OCGN * is expensive based on its Price-To-Book Ratio (6.5x) compared to the peer average (3.3x).

Price to Book Ratio vs Industry

How does OCGN *'s PB Ratio compare vs other companies in the Global Biotechs Industry?

86 CompaniesPrice / BookEstimated GrowthMarket Cap
No. of Companies124PB01.63.24.86.48+
86 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: OCGN * is expensive based on its Price-To-Book Ratio (6.5x) compared to the Global Biotechs industry average (2.3x).

Price to Book Ratio vs Fair Ratio

What is OCGN *'s PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

OCGN * PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio6.5x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate OCGN *'s Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst OCGN * forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentMex$19.35
Mex$126.97
+556.2%
23.7%Mex$162.52Mex$81.26n/a4
Nov ’25Mex$18.50
Mex$125.54
+578.6%
23.7%Mex$160.69Mex$80.35n/a4
Oct ’25Mex$19.99
Mex$131.84
+559.5%
11.7%Mex$150.67Mex$113.01n/a3
Sep ’25Mex$26.00
Mex$131.84
+407.1%
11.7%Mex$150.67Mex$113.01n/a3
Aug ’25Mex$24.55
Mex$114.23
+365.3%
18.7%Mex$137.08Mex$85.68n/a3
Jul ’25Mex$29.00
Mex$114.23
+293.9%
18.7%Mex$137.08Mex$85.68n/a3
Jun ’25Mex$28.00
Mex$114.23
+308.0%
18.7%Mex$137.08Mex$85.68n/a3
May ’25Mex$23.01
Mex$114.23
+396.5%
18.7%Mex$137.08Mex$85.68n/a3
Apr ’25Mex$27.60
Mex$108.92
+294.6%
26.8%Mex$137.58Mex$68.79n/a3
Mar ’25Mex$15.98
Mex$108.92
+581.6%
26.8%Mex$137.58Mex$68.79n/a3
Feb ’25Mex$9.90
Mex$91.47
+823.9%
23.4%Mex$120.06Mex$68.60n/a3
Jan ’25Mex$10.00
Mex$67.04
+570.4%
30.6%Mex$83.80Mex$33.52n/a4
Dec ’24n/a
Mex$67.04
0%
30.6%Mex$83.80Mex$33.52n/a4
Nov ’24n/a
Mex$67.04
0%
30.6%Mex$83.80Mex$33.52Mex$18.504
Oct ’24Mex$7.22
Mex$67.04
+828.5%
30.6%Mex$83.80Mex$33.52Mex$19.994
Sep ’24Mex$7.50
Mex$67.04
+793.9%
30.6%Mex$83.80Mex$33.52Mex$26.004
Aug ’24Mex$10.05
Mex$81.60
+711.9%
39.0%Mex$142.42Mex$44.51Mex$24.556
Jul ’24Mex$9.00
Mex$81.60
+806.6%
39.0%Mex$142.42Mex$44.51Mex$29.006
Jun ’24Mex$8.00
Mex$81.60
+919.9%
39.0%Mex$142.42Mex$44.51Mex$28.006
May ’24Mex$13.50
Mex$87.50
+548.1%
33.1%Mex$144.82Mex$54.31Mex$23.016
Apr ’24Mex$17.00
Mex$87.50
+414.7%
33.1%Mex$144.82Mex$54.31Mex$27.606
Mar ’24Mex$18.50
Mex$87.50
+373.0%
33.1%Mex$144.82Mex$54.31Mex$15.986
Feb ’24Mex$23.40
Mex$104.44
+346.3%
26.3%Mex$156.66Mex$68.54Mex$9.906
Jan ’24n/a
Mex$104.44
0%
26.3%Mex$156.66Mex$68.54Mex$10.006
Dec ’23n/a
Mex$104.44
0%
26.3%Mex$156.66Mex$68.54n/a6
Nov ’23Mex$35.00
Mex$117.68
+236.2%
29.1%Mex$161.39Mex$70.61n/a6

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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