Ocuphire Pharma (NASDAQ:OCUP) Trading Up 2.9%

Ocuphire Pharma, Inc. (NASDAQ:OCUP – Get Rating) was up 2.9% during mid-day trading on Tuesday . The stock traded as high as $3.53 and last traded at $3.50. Approximately 78,071 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 174,562 shares. The stock had previously closed at $3.40.

Analyst Ratings Changes

Separately, Canaccord Genuity Group lowered their target price on Ocuphire Pharma from $29.00 to $22.00 in a research note on Wednesday, November 9th.

Ocuphire Pharma Stock Up 2.9 %

The firm has a 50 day moving average price of $2.90 and a two-hundred day moving average price of $2.43. The company has a market capitalization of $72.82 million, a price-to-earnings ratio of -2.99 and a beta of 0.36.

Ocuphire Pharma (NASDAQ:OCUP – Get Rating) last announced its earnings results on Friday, November 4th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.08. Analysts predict that Ocuphire Pharma, Inc. will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On Ocuphire Pharma

Large investors have recently modified their holdings of the stock. Warberg Asset Management LLC bought a new position in shares of Ocuphire Pharma during the second quarter worth about $46,000. Rice Hall James & Associates LLC lifted its position in shares of Ocuphire Pharma by 125.8% during the second quarter. Rice Hall James & Associates LLC now owns 327,494 shares of the company’s stock worth $629,000 after purchasing an additional 182,468 shares during the last quarter. Eidelman Virant Capital bought a new position in shares of Ocuphire Pharma during the second quarter worth about $48,000. Renaissance Technologies LLC bought a new position in shares of Ocuphire Pharma during the second quarter worth about $381,000. Finally, Millennium Management LLC bought a new position in shares of Ocuphire Pharma during the second quarter worth about $68,000. Institutional investors own 13.59% of the company’s stock.

Ocuphire Pharma Company Profile

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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.