Kiora Pharmaceuticals (NASDAQ:KPRX) Shares Down 2.3% – Should You Sell?

Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) shares dropped 2.3% during trading on Thursday . The company traded as low as $2.55 and last traded at $2.57. Approximately 48,629 shares traded hands during trading, an increase of 96% from the average daily volume of 24,767 shares. The stock had previously closed at $2.63.

Analysts Set New Price Targets

KPRX has been the topic of a number of research analyst reports. Zacks Research downgraded Kiora Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Kiora Pharmaceuticals in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Kiora Pharmaceuticals Price Performance

The company has a 50-day moving average price of $2.70 and a 200-day moving average price of $2.93. The firm has a market capitalization of $8.82 million, a PE ratio of -0.88 and a beta of -0.68.

Kiora Pharmaceuticals (NASDAQ:KPRX) last released its earnings results on Friday, August 8th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.04. The business had revenue of $0.75 million for the quarter, compared to analysts’ expectations of $0.75 million. On average, research analysts predict that Kiora Pharmaceuticals, Inc. will post 1.28 earnings per share for the current fiscal year.

About Kiora Pharmaceuticals

Kiora Pharmaceuticals, Inc, a clinical-stage specialty pharmaceutical company, develops and commercializes therapies for the treatment of ophthalmic diseases in the United States. Its lead product is KIO-301, a potential vision-restoring small molecule, which is in Phase 1b clinical trial that acts as a photoswitch to restore vision in patients with inherited and age-related degenerative retinal diseases.