Ocuphire Pharma (NASDAQ:OCUP) Trading Down 0.6%

Ocuphire Pharma, Inc. (NASDAQ:OCUP) was down 0.6% on Tuesday . The company traded as low as $1.53 and last traded at $1.55. Approximately 77,983 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 186,663 shares. The stock had previously closed at $1.56.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on OCUP shares. Alliance Global Partners decreased their price target on Ocuphire Pharma from $24.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, March 20th. Canaccord Genuity Group upgraded Ocuphire Pharma to a “strong-buy” rating in a research note on Monday, May 13th. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Ocuphire Pharma in a research note on Monday, May 13th. Finally, Canaccord Genuity Group reduced their target price on Ocuphire Pharma from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, May 13th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $18.75.

Ocuphire Pharma Stock Performance

The company has a 50 day moving average price of $1.68 and a 200 day moving average price of $2.13. The company has a market capitalization of $46.92 million, a PE ratio of -3.69 and a beta of 0.32.

Ocuphire Pharma (NASDAQ:OCUP) last announced its quarterly earnings data on Friday, May 10th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.71 million for the quarter, compared to the consensus estimate of $3.01 million. On average, equities analysts forecast that Ocuphire Pharma, Inc. will post -1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ocuphire Pharma

Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new position in Ocuphire Pharma during the fourth quarter worth $141,000. Kestra Private Wealth Services LLC increased its position in Ocuphire Pharma by 323.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 42,341 shares of the company’s stock worth $127,000 after buying an additional 32,341 shares during the period. Vanguard Group Inc. increased its position in Ocuphire Pharma by 6.9% in the first quarter. Vanguard Group Inc. now owns 992,200 shares of the company’s stock worth $1,994,000 after buying an additional 64,400 shares during the period. Virtu Financial LLC acquired a new stake in Ocuphire Pharma in the first quarter worth $36,000. Finally, Empowered Funds LLC acquired a new stake in Ocuphire Pharma in the first quarter worth $74,000. 14.97% of the stock is currently owned by institutional investors.

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.