Universe Pharmaceuticals (NASDAQ:UPC) Shares Down 1.2% – Here’s Why

Universe Pharmaceuticals INC (NASDAQ:UPC) fell 1.2% on Wednesday . The stock traded as low as $2.94 and last traded at $2.9550. 3,230 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 16,446 shares. The stock had previously closed at $2.99.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Universe Pharmaceuticals in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Universe Pharmaceuticals Stock Down 1.2%

The stock’s 50 day moving average is $3.92 and its 200-day moving average is $4.13.

Universe Pharmaceuticals (NASDAQ:UPC) last posted its earnings results on Wednesday, January 28th. The company reported $0.69 earnings per share for the quarter. The firm had revenue of $8.92 billion for the quarter.

Universe Pharmaceuticals Company Profile

Universe Pharmaceuticals, Inc is a clinical‐stage biotechnology company focused on the discovery and development of novel therapeutics for ocular diseases. The company’s primary research efforts center on small-molecule compounds designed to address unmet needs in glaucoma, ocular hypertension and post-surgical ocular inflammation. By leveraging targeted enzyme inhibition and proprietary formulation technologies, Universe aims to bring forward topically administered medications that combine efficacy with an improved safety profile versus existing treatments.

The company’s lead candidate, UPC-1001, has been advanced into clinical trials for the treatment of open-angle glaucoma and ocular hypertension, where it seeks to lower intraocular pressure through a unique mechanism of action.