Ocuphire Pharma (NASDAQ:OCUP) Shares Down 0.6%

Ocuphire Pharma, Inc. (NASDAQ:OCUPGet Free Report)’s stock price traded down 0.6% during trading on Tuesday . The stock traded as low as $1.53 and last traded at $1.55. 77,983 shares traded hands during trading, a decline of 58% from the average session volume of 186,663 shares. The stock had previously closed at $1.56.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group upgraded shares of Ocuphire Pharma to a “strong-buy” rating in a research report on Monday, May 13th. Alliance Global Partners decreased their price objective 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. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Ocuphire Pharma in a report on Monday, May 13th. Finally, Canaccord Genuity Group decreased 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 investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Ocuphire Pharma has an average rating of “Buy” and a consensus price target of $18.75.

Get Our Latest Report on OCUP

Ocuphire Pharma Stock Down 0.6 %

The company has a market cap of $40.18 million, a price-to-earnings ratio of -3.16 and a beta of 0.32. The company’s fifty day moving average price is $1.68 and its two-hundred day moving average price is $2.14.

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

Institutional Trading of Ocuphire Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new position in shares of Ocuphire Pharma in the fourth quarter valued at about $141,000. Kestra Private Wealth Services LLC raised its position 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 valued at $127,000 after purchasing an additional 32,341 shares during the period. Vanguard Group Inc. raised its position 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 valued at $1,994,000 after purchasing an additional 64,400 shares during the period. Virtu Financial LLC bought a new position in shares of Ocuphire Pharma in the first quarter valued at about $36,000. Finally, Empowered Funds LLC bought a new position in shares of Ocuphire Pharma in the first quarter valued at about $74,000. 14.97% of the stock is owned by institutional investors.

About Ocuphire Pharma

(Get Free Report)

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.

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