HC Wainwright Reiterates “Buy” Rating for Ocuphire Pharma (NASDAQ:OCUP)

Ocuphire Pharma (NASDAQ:OCUP – Get Rating)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Friday, TipRanks reports. They currently have a $26.00 price objective on the stock.

Separately, Zacks Investment Research raised shares of Ocuphire Pharma from a “sell” rating to a “hold” rating in a research report on Thursday.

NASDAQ:OCUP traded down $0.03 during trading hours on Friday, reaching $2.01. The company’s stock had a trading volume of 301,017 shares, compared to its average volume of 159,914. The company has a market cap of $38.91 million, a price-to-earnings ratio of -1.37 and a beta of 0.32. Ocuphire Pharma has a one year low of $1.80 and a one year high of $7.00. The business’s 50-day moving average is $2.82 and its 200-day moving average is $3.31.

Ocuphire Pharma (NASDAQ:OCUP – Get Rating) last issued its quarterly earnings data on Friday, May 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.35). Sell-side analysts forecast that Ocuphire Pharma will post -1.38 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley raised its position in shares of Ocuphire Pharma by 779.4% during the first quarter. Morgan Stanley now owns 6,156 shares of the company’s stock valued at $36,000 after buying an additional 5,456 shares during the last quarter. Spire Wealth Management bought a new stake in Ocuphire Pharma in the first quarter valued at about $29,000. MCF Advisors LLC bought a new stake in Ocuphire Pharma in the first quarter valued at about $31,000. Squarepoint Ops LLC bought a new stake in Ocuphire Pharma in the fourth quarter valued at about $40,000. Finally, Powell Investment Advisors LLC bought a new stake in Ocuphire Pharma in the first quarter valued at about $44,000. 27.60% of the stock is owned by institutional investors and hedge funds.

Ocuphire Pharma Company Profile (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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