Ocugen’s stock price increased by nearly 18.5% yesterday, and almost 33.4% in the past five days. The vaccine company is rapidly outperforming other healthcare stocks.
This year, many vaccine companies have been in the spotlight after successfully developing Covid-19 vaccines. The bullish run is now surprisingly coming from yet another stock – the Indian Ocugen, and the popular stocks like Moderna failed to keep up with yesterday’s rally.
Let’s find out why Ocugen’s shares are flying past its competitors.
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Ocugen (NASDAQ: OCGN) shares can be purchased after registering with an online broker. Our top picks are:
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What Is Ocugen?
Ocugen is an Indian healthcare company that partnered with Bharat Biotech to develop the Covid-19 vaccine. Recently, the company has been working on a vaccine for children.
Should I Buy Ocugen Today?
Ocugen has just received the green light from the Indian government regarding the Covid-19 vaccine for children between 2 and 18 years old. It was developed in collaboration with Bharat Biotech, and the approval led to a massive bullish price rally. The stock increased more than popular companies’ stock, such as Moderna.
Ocugen is currently in a bullish run, as indicated by its 50-day and 200-day moving average. Yet, its future is uncertain as the stock has previously found resistance at $10. If it pushes higher, the bulls may enjoy their party, while the bears would like to see the stock being rejected, which means it will start to drop once again towards the $6 support level.
Ocugen Price Prediction 2021
Currently trading at $9.11, Ocugen’s price may soon break its resistance level – or, alternatively, go back to the support level of $6. Yet, analysts are bullish, offering a high estimate of $15.
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