Piper Sandler Initiates Coverage on OKYO Pharma (NASDAQ:OKYO)

Stock analysts at Piper Sandler began coverage on shares of OKYO Pharma (NASDAQ:OKYO) in a research note issued to investors on Friday, Marketbeat reports. The firm set an “overweight” rating and a $7.00 price target on the stock. Piper Sandler’s target price points to a potential upside of 311.76% from the company’s previous close.

A number of other analysts have also recently commented on the stock. B. Riley Financial assumed coverage on shares of OKYO Pharma in a report on Monday, December 8th. They set a “buy” rating and a $5.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of OKYO Pharma in a research note on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OKYO Pharma in a research note on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.33.

OKYO Pharma Stock Down 3.4%

OKYO Pharma stock opened at $1.70 on Friday. OKYO Pharma has a one year low of $1.03 and a one year high of $3.35. The business has a fifty day moving average price of $2.11 and a 200-day moving average price of $2.22.

OKYO Pharma (NASDAQ:OKYO) last released its earnings results on Friday, January 30th. The company reported ($2.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($2.21). On average, research analysts predict that OKYO Pharma will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OKYO. Citadel Advisors LLC bought a new stake in shares of OKYO Pharma during the third quarter valued at approximately $31,000. Renaissance Technologies LLC boosted its stake in OKYO Pharma by 235.0% during the 4th quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock valued at $286,000 after purchasing an additional 96,800 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in OKYO Pharma during the 4th quarter valued at $36,000. Institutional investors own 2.97% of the company’s stock.

About OKYO Pharma

Okyo Pharma Inc is a clinical-stage biopharmaceutical company focused on developing novel therapies for inflammatory and fibrotic diseases. The company’s pipeline is built on proprietary Fc-fusion technology designed to modulate immune responses associated with conditions such as diabetic nephropathy and chronic graft-versus-host disease. Okyo Pharma seeks to address significant unmet medical needs by targeting key cytokine pathways involved in tissue inflammation and fibrosis.

Okyo Pharma’s lead product candidate, OK-101, is an Fc-fusion protein in Phase 2 development for the treatment of diabetic kidney disease.