Ocuphire Pharma, Inc. (NASDAQ:OCUP) CFO Acquires $21,000.00 in Stock

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

Ocuphire Pharma Stock Down 0.5 %

Shares of NASDAQ OCUP opened at $2.02 on Thursday. Ocuphire Pharma, Inc. has a 1-year low of $1.85 and a 1-year high of $6.60. The business has a 50-day moving average of $2.43 and a 200-day moving average of $2.88.

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

Wall Street Analyst Weigh In

Separately, Alliance Global Partners dropped their price target on Ocuphire Pharma from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th.

Institutional Investors Weigh In On Ocuphire Pharma

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Ocuphire Pharma by 6.1% in the second quarter. BlackRock Inc. now owns 55,399 shares of the company’s stock valued at $240,000 after purchasing an additional 3,198 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Ocuphire Pharma by 57.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 18,137 shares of the company’s stock valued at $61,000 after purchasing an additional 6,612 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Ocuphire Pharma by 4.8% in the first quarter. Geode Capital Management LLC now owns 181,370 shares of the company’s stock valued at $680,000 after purchasing an additional 8,303 shares during the last quarter. Prelude Capital Management LLC boosted its holdings in Ocuphire Pharma by 48.2% in the fourth quarter. Prelude Capital Management LLC now owns 26,677 shares of the company’s stock valued at $80,000 after purchasing an additional 8,681 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Ocuphire Pharma by 4.4% in the third quarter. Renaissance Technologies LLC now owns 206,901 shares of the company’s stock valued at $416,000 after purchasing an additional 8,711 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 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.