Ocuphire Pharma, Inc. (NASDAQ:OCUP) to Post FY2028 Earnings of $1.74 Per Share, HC Wainwright Forecasts

Ocuphire Pharma, Inc. (NASDAQ:OCUP) – Research analysts at HC Wainwright cut their FY2028 earnings per share estimates for shares of Ocuphire Pharma in a research note issued on Monday, May 13th. HC Wainwright analyst M. Caufield now expects that the company will post earnings per share of $1.74 for the year, down from their prior estimate of $1.80. HC Wainwright currently has a “Buy” rating and a $20.00 price target on the stock. The consensus estimate for Ocuphire Pharma’s current full-year earnings is ($0.74) per share.

Ocuphire Pharma (NASDAQ:OCUP) last issued its quarterly earnings data on Friday, March 8th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.14). Ocuphire Pharma had a negative net margin of 59.44% and a negative return on equity of 24.57%. The company had revenue of $1.69 million during the quarter, compared to the consensus estimate of $3.47 million.

A number of other brokerages have also commented on OCUP. Canaccord Genuity Group cut their price target on Ocuphire Pharma from $22.00 to $18.00 and set a “buy” rating for the company in a report on Monday. Alliance Global Partners cut their price target on Ocuphire Pharma from $24.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, March 20th. Finally, Canaccord Genuity Group upgraded Ocuphire Pharma to a “strong-buy” rating in a report on Monday. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $18.75.

Ocuphire Pharma Stock Up 1.8 %

Shares of NASDAQ OCUP opened at $1.73 on Wednesday. Ocuphire Pharma has a 12 month low of $1.50 and a 12 month high of $5.08. The company has a market cap of $44.85 million, a P/E ratio of -3.53 and a beta of 0.39. The business’s 50 day moving average is $1.87 and its two-hundred day moving average is $2.46.

Insider Activity at Ocuphire Pharma

In other news, CEO George Magrath bought 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average cost of $1.96 per share, for a total transaction of $49,000.00. Following the completion of the purchase, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders bought 37,000 shares of company stock worth $74,100. 8.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Ocuphire Pharma by 6.9% in the first quarter. Vanguard Group Inc. now owns 992,200 shares of the company’s stock valued at $1,994,000 after purchasing an additional 64,400 shares in the last quarter. 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 valued at $1,233,000 after purchasing an additional 26,143 shares in the last quarter. Acadian Asset Management LLC raised its stake 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 in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Ocuphire Pharma in the fourth quarter valued at $141,000. Finally, Kestra Private Wealth Services LLC raised its stake 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 in the last quarter. 14.97% of the stock is currently owned by institutional investors and hedge funds.

About Ocuphire Pharma

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.