Ocuphire Pharma (NASDAQ:OCUP) Price Target Cut to $10.00 by Analysts at Canaccord Genuity Group

Ocuphire Pharma (NASDAQ:OCUP) had its price target decreased by Canaccord Genuity Group from $18.00 to $10.00 in a research report report published on Wednesday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Separately, HC Wainwright decreased their target price on Ocuphire Pharma from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th.

Ocuphire Pharma Stock Performance

The stock has a fifty day moving average price of $1.28 and a 200 day moving average price of $1.57. The company has a market capitalization of $30.33 million, a price-to-earnings ratio of -2.39 and a beta of 0.20. Ocuphire Pharma has a 12-month low of $1.07 and a 12-month high of $3.40.

Ocuphire Pharma (NASDAQ:OCUP) last issued its earnings results on Tuesday, August 13th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.01). The firm had revenue of $1.11 million during the quarter, compared to the consensus estimate of $1.80 million. Ocuphire Pharma had a negative return on equity of 30.19% and a negative net margin of 85.75%. Equities research analysts expect that Ocuphire Pharma will post -1.11 EPS for the current year.

Institutional Trading of Ocuphire Pharma

Hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in shares of Ocuphire Pharma in the first quarter worth about $36,000. Empowered Funds LLC purchased a new position in Ocuphire Pharma during the 1st quarter valued at approximately $74,000. Finally, Vanguard Group Inc. increased its stake in Ocuphire Pharma by 6.9% in the 1st 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. Hedge funds and other 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.