Ocuphire Pharma (NASDAQ:OCUP) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Ocuphire Pharma (NASDAQ:OCUPGet Rating) from a sell rating to a hold rating in a research report released on Thursday morning, Zacks.com reports.

According to Zacks, “Ocuphire Pharma Inc. is a clinical-stage ophthalmic biopharmaceutical company. It is focused on developing and commercializing therapies for the treatment of several eye disorders. The company’s product pipeline includes Nyxol Eye Drops(R) and APX3330. Ocuphire Pharma Inc., formerly known as Rexahn Pharmaceuticals Inc., is based in FARMINGTON HILLS, Mich. “

Separately, HC Wainwright restated a buy rating and set a $26.00 target price on shares of Ocuphire Pharma in a research report on Friday, March 25th.

Shares of NASDAQ OCUP opened at $2.04 on Thursday. The firm has a fifty day moving average price of $2.85 and a 200-day moving average price of $3.33. Ocuphire Pharma has a 1 year low of $1.80 and a 1 year high of $7.00.

Ocuphire Pharma (NASDAQ:OCUPGet Rating) last announced its quarterly earnings data on Friday, May 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.35). As a group, research analysts predict that Ocuphire Pharma will post -1.38 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the stock. Spire Wealth Management bought a new position in Ocuphire Pharma during the first quarter valued at $29,000. MCF Advisors LLC bought a new position in Ocuphire Pharma during the first quarter valued at $31,000. Morgan Stanley lifted its position in Ocuphire Pharma by 779.4% during the first quarter. Morgan Stanley now owns 6,156 shares of the company’s stock valued at $36,000 after purchasing an additional 5,456 shares during the last quarter. Squarepoint Ops LLC bought a new position in Ocuphire Pharma during the fourth quarter valued at $40,000. Finally, Powell Investment Advisors LLC bought a new position in Ocuphire Pharma during the first quarter valued at $44,000. Hedge funds and other institutional investors own 27.60% of the company’s stock.

Ocuphire Pharma Company Profile (Get Rating)

Ocuphire Pharma, Inc, a clinical-stage ophthalmic biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of refractive and retinal eye disorders. Its lead product candidate is Nyxol eye drops, a once-daily preservative-free eye drop formulation of phentolamine mesylate, which is in Phase III clinical trial for dim light or night vision disturbances; and Phase 2b clinical trial for pharmacologically induced mydriasis, as well as that has completed Phase 2 VEGA-1 trial for presbyopia.

Further Reading

Get a free copy of the Zacks research report on Ocuphire Pharma (OCUP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ocuphire Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocuphire Pharma and related companies with MarketBeat.com's FREE daily email newsletter.