Ocuphire Pharma, Inc. (NASDAQ:OCUP) is Richmond Brothers Inc.’s 10th Largest Position

Richmond Brothers Inc. lessened its stake in shares of Ocuphire Pharma, Inc. (NASDAQ:OCUP) by 31.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 252,769 shares of the company’s stock after selling 115,234 shares during the period. Ocuphire Pharma comprises about 1.3% of Richmond Brothers Inc.’s holdings, making the stock its 10th biggest position. Richmond Brothers Inc. owned about 1.12% of Ocuphire Pharma worth $761,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in OCUP. Victory Capital Management Inc. bought a new stake in shares of Ocuphire Pharma in the fourth quarter valued at approximately $141,000. Kestra Private Wealth Services LLC raised its position in shares of Ocuphire Pharma by 323.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 42,341 shares of the company’s stock valued at $127,000 after purchasing an additional 32,341 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of Ocuphire Pharma by 75.5% in the third quarter. Acadian Asset Management LLC now owns 49,563 shares of the company’s stock valued at $165,000 after purchasing an additional 21,318 shares during the period. Hedge funds and other institutional investors own 14.97% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Ocuphire Pharma in a research report on Monday, May 13th. Canaccord Genuity Group raised shares of Ocuphire Pharma to a “strong-buy” rating in a research note on Monday, May 13th. Canaccord Genuity Group reduced their price objective on shares of Ocuphire Pharma from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, May 13th. Finally, Alliance Global Partners reduced 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 note on Wednesday, March 20th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $18.75.

Insider Buying and Selling

In other news, CEO George Magrath acquired 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were bought at an average cost of $1.96 per share, with a total value of $49,000.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired a total of 37,000 shares of company stock worth $74,100 in the last three months. 8.70% of the stock is owned by corporate insiders.

Ocuphire Pharma Trading Down 2.9 %

NASDAQ OCUP traded down $0.05 during trading on Friday, hitting $1.69. The company had a trading volume of 114,524 shares, compared to its average volume of 195,803. Ocuphire Pharma, Inc. has a one year low of $1.50 and a one year high of $4.71. The company has a market cap of $43.68 million, a price-to-earnings ratio of -3.44 and a beta of 0.39. The company’s fifty day moving average is $1.85 and its 200-day moving average is $2.45.

Ocuphire Pharma (NASDAQ:OCUP) last issued its quarterly earnings data 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 24.57% and a negative net margin of 59.44%. The company had revenue of $1.69 million during the quarter, compared to the consensus estimate of $3.47 million. As a group, equities analysts anticipate that Ocuphire Pharma, Inc. will post -1.16 EPS for the current year.

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.