Why Is Ocugen Inc (OCGN) Stock A Better Investment for 2021?

The coronavirus pandemic has been one of the most devastating episodes in modern human history but many companies involved in the manufacturing vaccines for COVID 19 have managed to become the darling of investors. One such stock is that of Ocugen Inc (NASDAQ:OCGN).

The company had originally been working on products meant for curing blindness. However, last year, the company decided to partner with the Indian company Bharat Biotech to distribute the latter’s coronavirus vaccine Covaxin in the United States. Since then, the Ocugen stock has made remarkable gains.

Related:  BioNano Genomics (BNGO) Resumes Uptrend While Using Saphyr System in Identifying COVID-19's Structure: How to Trade?

The vaccine has already been awarded emergency use authorization in its home market in India. The vaccine had also demonstrated impressive results in the Phase 3 study conducted in India. Later on, in this quarter, Ocugen is all set to launch 100 million doses of Covaxin in the form of a two-dose vaccine. However, that will happen only after the company gets the necessary clearance from the United States Food and Drug Administration.

OCGN stock is up by another 10.20% at $13.19. The stock has gained over 150% from the recent low of about $5.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.