Ocuphire Pharma (NASDAQ:OCUP) Trading Down 0.6%

Ocuphire Pharma, Inc. (NASDAQ:OCUP) shares were down 0.6% during trading on Tuesday . The company traded as low as $1.53 and last traded at $1.55. Approximately 77,983 shares traded hands during trading, a decline of 58% from the average daily volume of 186,663 shares. The stock had previously closed at $1.56.

Analysts Set New Price Targets

OCUP has been the topic of a number of analyst reports. Canaccord Genuity Group upgraded shares of Ocuphire Pharma to a “strong-buy” rating in a report on Monday, May 13th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Ocuphire Pharma in a report on Monday, May 13th. Alliance Global Partners cut their price target on shares of Ocuphire Pharma from $24.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, March 20th. Finally, Canaccord Genuity Group dropped their price objective on shares of Ocuphire Pharma from $22.00 to $18.00 and set a “buy” rating for the company in a report on Monday, May 13th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $18.75.

Ocuphire Pharma Stock Up 9.7 %

The business’s 50-day simple moving average is $1.68 and its 200-day simple moving average is $2.13. The stock has a market cap of $46.92 million, a PE ratio of -3.69 and a beta of 0.32.

Ocuphire Pharma (NASDAQ:OCUP) last announced its quarterly earnings results on Friday, May 10th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.11). The company had revenue of $1.71 million for the quarter, compared to analysts’ expectations of $3.01 million. Ocuphire Pharma had a negative net margin of 59.44% and a negative return on equity of 24.57%. As a group, equities research analysts anticipate that Ocuphire Pharma, Inc. will post -1.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ocuphire Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Private Wealth Services LLC lifted its stake in shares of Ocuphire Pharma by 323.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 42,341 shares of the company’s stock worth $127,000 after buying an additional 32,341 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in Ocuphire Pharma during the fourth quarter valued at approximately $141,000. Empowered Funds LLC purchased a new stake in shares of Ocuphire Pharma in the first quarter worth $74,000. Vanguard Group Inc. increased its stake in shares of Ocuphire Pharma by 6.9% in the first quarter. Vanguard Group Inc. now owns 992,200 shares of the company’s stock worth $1,994,000 after purchasing an additional 64,400 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Ocuphire Pharma in the first quarter worth $36,000. Hedge funds and other institutional investors own 14.97% of the company’s stock.

Ocuphire Pharma Company Profile

Ocuphire Pharma, Inc, a clinical-stage ophthalmic biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of unmet needs of patients with refractive and retinal eye disorders. The company offers Phentolamine Ophthalmic Solution for reversal of mydriasis, as well as is in Phase III clinical trials for presbyopia and dim light or night vision disturbances.