Q3 2024 EPS Estimates for Ocuphire Pharma, Inc. Cut by HC Wainwright (NASDAQ:OCUP)

Ocuphire Pharma, Inc. (NASDAQ:OCUP) – Equities researchers at HC Wainwright dropped their Q3 2024 earnings per share (EPS) estimates for shares of Ocuphire Pharma in a research report issued to clients and investors on Wednesday, August 14th. HC Wainwright analyst M. Caufield now expects that the company will earn ($0.30) per share for the quarter, down from their prior forecast of ($0.29). HC Wainwright has a “Buy” rating and a $18.00 price objective on the stock. The consensus estimate for Ocuphire Pharma’s current full-year earnings is ($1.16) per share. HC Wainwright also issued estimates for Ocuphire Pharma’s Q4 2024 earnings at ($0.22) EPS, FY2024 earnings at ($1.11) EPS, FY2025 earnings at ($1.26) EPS, FY2026 earnings at ($0.67) EPS, FY2027 earnings at ($0.04) EPS and FY2028 earnings at $0.74 EPS.

Other analysts have also recently issued research reports about the stock. Canaccord Genuity Group upgraded shares of Ocuphire Pharma to a “strong-buy” rating in a report on Monday, May 13th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $18.00 target price on shares of Ocuphire Pharma in a research report on Wednesday.

Ocuphire Pharma Price Performance

OCUP opened at $1.33 on Friday. The stock’s 50 day moving average price is $1.71 and its 200-day moving average price is $1.92. Ocuphire Pharma has a 52-week low of $1.16 and a 52-week high of $4.50.

Hedge Funds Weigh In On Ocuphire Pharma

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Ocuphire Pharma by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 992,200 shares of the company’s stock worth $1,994,000 after buying an additional 64,400 shares during the period. Victory Capital Management Inc. purchased a new stake in Ocuphire Pharma in the fourth quarter worth about $141,000. Kestra Private Wealth Services LLC increased its stake in shares of Ocuphire Pharma by 323.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 42,341 shares of the company’s stock valued at $127,000 after purchasing an additional 32,341 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Ocuphire Pharma during the first quarter valued at approximately $74,000. Finally, Virtu Financial LLC bought a new stake in shares of Ocuphire Pharma in the 1st quarter worth approximately $36,000. 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.