Ocuphire Pharma (NASDAQ:OCUP) PT Lowered to $18.00 at HC Wainwright

Ocuphire Pharma (NASDAQ:OCUP) had its price objective cut by HC Wainwright from $20.00 to $18.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Ocuphire Pharma’s Q3 2024 earnings at ($0.30) EPS, Q4 2024 earnings at ($0.22) EPS, FY2024 earnings at ($1.11) EPS, FY2025 earnings at ($1.26) EPS, FY2026 earnings at ($0.67) EPS, FY2027 earnings at ($0.04) EPS and FY2028 earnings at $0.74 EPS.

OCUP has been the topic of a number of other research reports. Canaccord Genuity Group reaffirmed a buy rating and issued a $18.00 target price on shares of Ocuphire Pharma in a research note on Wednesday. Canaccord Genuity Group upgraded Ocuphire Pharma to a strong-buy rating in a research report on Monday, May 13th.

Ocuphire Pharma Trading Up 7.3 %

Shares of NASDAQ OCUP opened at $1.33 on Thursday. The company’s 50-day moving average price is $1.71 and its 200 day moving average price is $1.92. Ocuphire Pharma has a 52 week low of $1.16 and a 52 week high of $4.50. The stock has a market cap of $34.85 million, a price-to-earnings ratio of -2.71 and a beta of 0.32.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Empowered Funds LLC purchased a new stake in shares of Ocuphire Pharma in the first quarter valued at $74,000. Victory Capital Management Inc. purchased a new stake in Ocuphire Pharma in the 4th quarter valued at about $141,000. Kestra Private Wealth Services LLC increased its stake in shares of Ocuphire Pharma by 323.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 42,341 shares of the company’s stock valued at $127,000 after acquiring an additional 32,341 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Ocuphire Pharma during the 1st quarter worth about $36,000. Finally, Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 64,400 shares during the last quarter. 14.97% of the stock is currently owned by institutional investors and hedge funds.

About Ocuphire Pharma

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.