OKYO Pharma (NASDAQ:OKYO) Price Target Cut to $5.00 by Analysts at HC Wainwright

OKYO Pharma (NASDAQ:OKYO) had its price target reduced by equities researchers at HC Wainwright from $7.00 to $5.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 195.86% from the company’s current price.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of OKYO Pharma in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.67.

OKYO Pharma Stock Performance

OKYO stock opened at $1.69 on Monday. The business has a 50-day moving average price of $1.61 and a 200 day moving average price of $1.78. OKYO Pharma has a 1-year low of $1.42 and a 1-year high of $3.35.

Hedge Funds Weigh In On OKYO Pharma

A number of large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new stake in shares of OKYO Pharma in the 4th quarter valued at about $36,000. Renaissance Technologies LLC grew its holdings in OKYO Pharma by 235.0% in the fourth quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock worth $286,000 after purchasing an additional 96,800 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of OKYO Pharma during the third quarter worth $31,000. 2.97% of the stock is currently owned by institutional investors.

About OKYO Pharma

Okyo Pharma Inc is a clinical-stage biopharmaceutical company focused on developing novel therapies for inflammatory and fibrotic diseases. The company’s pipeline is built on proprietary Fc-fusion technology designed to modulate immune responses associated with conditions such as diabetic nephropathy and chronic graft-versus-host disease. Okyo Pharma seeks to address significant unmet medical needs by targeting key cytokine pathways involved in tissue inflammation and fibrosis.

Okyo Pharma’s lead product candidate, OK-101, is an Fc-fusion protein in Phase 2 development for the treatment of diabetic kidney disease.