Ocuphire Pharma, Inc. (NASDAQ:OCUP) Expected to Post Earnings of -$0.35 Per Share

Brokerages predict that Ocuphire Pharma, Inc. (NASDAQ:OCUPGet Rating) will announce earnings of ($0.35) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Ocuphire Pharma’s earnings. Ocuphire Pharma reported earnings of ($0.52) per share during the same quarter last year, which would indicate a positive year over year growth rate of 32.7%. The business is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Ocuphire Pharma will report full-year earnings of ($1.39) per share for the current year, with EPS estimates ranging from ($1.44) to ($1.34). For the next fiscal year, analysts anticipate that the business will report earnings of ($1.41) per share. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Ocuphire Pharma.

Ocuphire Pharma (NASDAQ:OCUPGet Rating) last issued its quarterly earnings results on Thursday, March 24th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.06).

OCUP has been the topic of several research reports. HC Wainwright reissued a “buy” rating and set a $26.00 price objective on shares of Ocuphire Pharma in a report on Friday, March 25th. Zacks Investment Research downgraded shares of Ocuphire Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, January 18th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OCUP. Rice Hall James & Associates LLC increased its position in Ocuphire Pharma by 9.5% during the first quarter. Rice Hall James & Associates LLC now owns 145,026 shares of the company’s stock worth $470,000 after buying an additional 12,593 shares in the last quarter. Richmond Brothers Inc. grew its position in shares of Ocuphire Pharma by 67.4% in the first quarter. Richmond Brothers Inc. now owns 124,544 shares of the company’s stock valued at $403,000 after purchasing an additional 50,124 shares during the period. Geode Capital Management LLC grew its position in shares of Ocuphire Pharma by 15.4% in the fourth quarter. Geode Capital Management LLC now owns 91,068 shares of the company’s stock valued at $339,000 after purchasing an additional 12,145 shares during the period. Diametric Capital LP acquired a new position in Ocuphire Pharma in the fourth quarter valued at $334,000. Finally, State Street Corp boosted its holdings in Ocuphire Pharma by 408.7% in the fourth quarter. State Street Corp now owns 76,173 shares of the company’s stock valued at $284,000 after acquiring an additional 61,200 shares during the last quarter. Institutional investors own 27.60% of the company’s stock.

OCUP opened at $2.15 on Friday. Ocuphire Pharma has a 52 week low of $1.80 and a 52 week high of $7.00. The firm has a 50-day simple moving average of $2.95 and a two-hundred day simple moving average of $3.37. The company has a market capitalization of $41.36 million, a PE ratio of -1.46 and a beta of 0.32.

About Ocuphire Pharma (Get Rating)

Ocuphire Pharma, Inc, a clinical-stage ophthalmic biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of refractive and retinal eye disorders. Its lead product candidate is Nyxol eye drops, a once-daily preservative-free eye drop formulation of phentolamine mesylate, which is in Phase III clinical trial for dim light or night vision disturbances; and Phase 2b clinical trial for pharmacologically induced mydriasis, as well as that has completed Phase 2 VEGA-1 trial for presbyopia.

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