Ocuphire Pharma (NASDAQ:OCUP) Shares Down 3.5%

Ocuphire Pharma, Inc. (NASDAQ:OCUP)’s stock price fell 3.5% during trading on Tuesday . The company traded as low as $1.93 and last traded at $1.94. 185,957 shares traded hands during trading, a decline of 15% from the average session volume of 217,504 shares. The stock had previously closed at $2.01.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners decreased their price objective on shares of Ocuphire Pharma from $24.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, March 20th.

Ocuphire Pharma Trading Down 3.5 %

The firm has a fifty day moving average of $1.97 and a 200 day moving average of $2.51. The company has a market capitalization of $49.68 million, a P/E ratio of -4.04 and a beta of 0.39.

Ocuphire Pharma (NASDAQ:OCUP) last announced its quarterly earnings results on Friday, March 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.14). Ocuphire Pharma had a negative net margin of 52.42% and a negative return on equity of 22.30%. The company had revenue of $1.69 million for the quarter, compared to analysts’ expectations of $3.47 million. Sell-side analysts anticipate that Ocuphire Pharma, Inc. will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling at Ocuphire Pharma

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 stock was bought at an average price of $1.96 per share, with a total value of $49,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 425,000 shares of the company’s stock, valued at approximately $833,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders purchased 37,000 shares of company stock worth $74,100. Insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Ocuphire Pharma

A number of institutional investors have recently bought and sold shares of OCUP. Richmond Brothers Inc. raised its stake in shares of Ocuphire Pharma by 7.6% in the third quarter. Richmond Brothers Inc. now owns 368,003 shares of the company’s stock worth $1,233,000 after buying an additional 26,143 shares during the period. Acadian Asset Management LLC raised its stake in Ocuphire Pharma by 75.5% during the 3rd quarter. Acadian Asset Management LLC now owns 49,563 shares of the company’s stock worth $165,000 after acquiring an additional 21,318 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in Ocuphire Pharma by 323.4% during 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 in the last quarter. Victory Capital Management Inc. bought a new position in shares of Ocuphire Pharma in the fourth quarter worth approximately $141,000. Finally, Empowered Funds LLC purchased a new stake in shares of Ocuphire Pharma in the first quarter worth $74,000. 14.97% of the stock is owned by institutional investors.

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.