Insider Buying: Ocuphire Pharma, Inc. (NASDAQ:OCUP) CFO Buys 10,000 Shares of Stock

Ocuphire Pharma, Inc. (NASDAQ:OCUP) CFO Nirav S. Jhaveri purchased 10,000 shares of Ocuphire Pharma stock in a transaction that occurred on Thursday, March 21st. The shares were acquired at an average price of $2.10 per share, with a total value of $21,000.00. Following the acquisition, the chief financial officer now directly owns 150,000 shares of the company’s stock, valued at approximately $315,000. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Ocuphire Pharma Stock Performance

Shares of OCUP stock opened at $2.02 on Thursday. The firm has a 50 day moving average price of $2.43 and a two-hundred day moving average price of $2.88. Ocuphire Pharma, Inc. has a 12-month low of $1.85 and a 12-month high of $6.60.

Ocuphire Pharma (NASDAQ:OCUP) last released its quarterly earnings results 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 52.42% and a negative return on equity of 22.30%. The business had revenue of $1.69 million during the quarter, compared to analyst estimates of $3.47 million. As a group, equities analysts anticipate that Ocuphire Pharma, Inc. will post -0.53 EPS for the current year.

Analyst Ratings Changes

Separately, Alliance Global Partners reduced 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.

Institutional Investors Weigh In On Ocuphire Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Private Wealth Services LLC bought a new position in Ocuphire Pharma in the first quarter valued at approximately $32,000. O Shaughnessy Asset Management LLC bought a new position in Ocuphire Pharma in the second quarter valued at approximately $50,000. GSA Capital Partners LLP bought a new position in Ocuphire Pharma in the third quarter valued at approximately $46,000. Bank of Montreal Can bought a new stake in shares of Ocuphire Pharma during the first quarter worth $68,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Ocuphire Pharma during the first quarter worth $61,000. 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 refractive and retinal eye disorders. Its lead product candidate is Nyxol eye drops, a once-daily preservative-free eye drop formulation of phentolamine mesylate for dim light or night vision disturbances; and for pharmacologically induced mydriasis and presbyopia.