Ocuphire Pharma (NASDAQ:OCUP) Trading Down 4.3%

Ocuphire Pharma, Inc. (NASDAQ:OCUP)’s stock price dropped 4.3% during trading on Monday . The stock traded as low as $1.74 and last traded at $1.76. Approximately 196,987 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 222,608 shares. The stock had previously closed at $1.84.

Analyst Ratings Changes

Separately, Alliance Global Partners lowered their price objective on shares of Ocuphire Pharma from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, March 20th.

Ocuphire Pharma Stock Down 4.3 %

The company’s fifty day moving average is $2.23 and its 200 day moving average is $2.69. The firm has a market cap of $43.67 million, a price-to-earnings ratio of -3.67 and a beta of 0.34.

Ocuphire Pharma (NASDAQ:OCUP) last announced its earnings results on Friday, March 8th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.14). Ocuphire Pharma had a negative return on equity of 22.30% and a negative net margin of 52.42%. The business had revenue of $1.69 million for the quarter, compared to analyst estimates of $3.47 million. On average, equities research analysts forecast that Ocuphire Pharma, Inc. will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling at Ocuphire Pharma

In related news, CEO George Magrath bought 25,000 shares of Ocuphire Pharma stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average price of $1.96 per share, with a total value of $49,000.00. Following the acquisition, the chief executive officer now owns 425,000 shares of the company’s stock, valued at approximately $833,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 37,000 shares of company stock worth $74,100 over the last quarter. 8.70% of the stock is currently owned by insiders.

Institutional Trading of Ocuphire Pharma

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Kestra Private Wealth Services LLC acquired a new stake in Ocuphire Pharma in the 1st quarter worth about $32,000. GSA Capital Partners LLP acquired a new stake in Ocuphire Pharma in the 3rd quarter worth about $46,000. Bank of Montreal Can acquired a new stake in Ocuphire Pharma in the 1st quarter worth about $68,000. Bank of New York Mellon Corp acquired a new position in shares of Ocuphire Pharma in the 1st quarter valued at approximately $61,000. Finally, XTX Topco Ltd acquired a new position in shares of Ocuphire Pharma in the 2nd quarter valued at approximately $73,000. Institutional investors own 14.97% of the company’s stock.

Ocuphire Pharma Company Profile

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.