Ocuphire Pharma (NASDAQ:OCUP) Receives New Coverage from Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of Ocuphire Pharma (NASDAQ:OCUP) in a report released on Wednesday morning, Analyst Price Targets reports. The brokerage issued a buy rating and a $26.00 price objective on the stock.

Separately, Zacks Investment Research raised Ocuphire Pharma from a hold rating to a buy rating and set a $4.50 target price for the company in a research note on Thursday, November 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ocuphire Pharma currently has an average rating of Buy and an average target price of $19.58.

Shares of NASDAQ OCUP opened at $4.14 on Wednesday. Ocuphire Pharma has a twelve month low of $3.35 and a twelve month high of $13.81. The stock has a fifty day simple moving average of $4.41 and a 200-day simple moving average of $4.55.

Ocuphire Pharma (NASDAQ:OCUP) last issued its quarterly earnings data on Friday, November 12th. The company reported ($0.25) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.11. As a group, research analysts anticipate that Ocuphire Pharma will post -4.16 EPS for the current year.

In other Ocuphire Pharma news, Director Jay Pepose acquired 12,631 shares of the stock in a transaction dated Monday, September 13th. The stock was acquired at an average cost of $4.75 per share, with a total value of $59,997.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 18.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in shares of Ocuphire Pharma by 779.4% during the 1st quarter. Morgan Stanley now owns 6,156 shares of the company’s stock worth $36,000 after acquiring an additional 5,456 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of Ocuphire Pharma by 87.1% during the 2nd quarter. Squarepoint Ops LLC now owns 19,395 shares of the company’s stock worth $102,000 after acquiring an additional 9,030 shares in the last quarter. Geode Capital Management LLC acquired a new position in shares of Ocuphire Pharma during the 1st quarter worth about $65,000. Millennium Management LLC purchased a new stake in shares of Ocuphire Pharma in the 1st quarter valued at about $74,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Ocuphire Pharma in the 2nd quarter valued at about $75,000. 5.81% of the stock is owned by institutional investors and hedge funds.

Ocuphire Pharma Company Profile

Ocuphire Pharma, Inc engages in the research and development of ophthalmic biopharmaceutical products. It focuses on developing and commercializing therapies for the treatment of several eye disorders. The company was founded by Mina Patel Soouch and Alan R. Meyer in February 2018 and is headquartered in Farmington Hills, MI.

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Analyst Recommendations for Ocuphire Pharma (NASDAQ:OCUP)

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