Ocuphire Pharma Inc. [NASDAQ: OCUP] stock went on an upward path that rose over 19.71% on Tuesday, amounting to a one-week price increase of more than 7.33%. The company report on November 7, 2022 that Ocuphire Pharma Enters into a Global License Agreement for Development and Commercialization of Nyxol Eye Drops for Reversal of Mydriasis, Presbyopia and Night Vision Disturbances.
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Ocuphire to Receive $35 Million Upfront, Nyxol Development Funding and Additional Potential Milestone Payments plus Tiered Double-Digit Royalties.
Strengthened Financial Position Supports Operations and APX3330 Program into 2025.
Over the last 12 months, OCUP stock dropped by -41.82%. The one-year Ocuphire Pharma Inc. stock forecast points to a potential upside of 90.2. The average equity rating for OCUP stock is currently 1.80, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $51.94 million, with 20.58 million shares outstanding and 19.80 million shares in the current float. Compared to the average trading volume of 82.71K shares, OCUP stock reached a trading volume of 5818756 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Ocuphire Pharma Inc. [OCUP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OCUP shares is $25.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OCUP stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Average True Range (ATR) for Ocuphire Pharma Inc. is set at 0.16, with the Price to Sales ratio for OCUP stock in the period of the last 12 months amounting to 103.88. The Price to Book ratio for the last quarter was 3.32, with the Price to Cash per share for the same quarter was set at 0.82.
OCUP Stock Performance Analysis:
Ocuphire Pharma Inc. [OCUP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.33. With this latest performance, OCUP shares gained by 13.18% in over the last four-week period, additionally plugging by 28.35% over the last 6 months – not to mention a drop of -41.82% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OCUP stock in for the last two-week period is set at 59.67, with the RSI for the last a single of trading hit 62.80, and the three-weeks RSI is set at 57.57 for Ocuphire Pharma Inc. [OCUP]. The present Moving Average for the last 50 days of trading for this stock 2.23, while it was recorded at 2.22 for the last single week of trading, and 2.50 for the last 200 days.
Insight into Ocuphire Pharma Inc. Fundamentals:
Ocuphire Pharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.40 and a Current Ratio set at 5.40.
Ocuphire Pharma Inc. [OCUP] Insider Position Details
There are presently around $7 million, or 12.20% of OCUP stock, in the hands of institutional investors. The top three institutional holders of OCUP stocks are: VANGUARD GROUP INC with ownership of 703,088, which is approximately 0% of the company’s market cap and around 3.20% of the total institutional ownership; RICE HALL JAMES & ASSOCIATES, LLC, holding 540,348 shares of the stock with an approximate value of $1.34 million in OCUP stocks shares; and RICHMOND BROTHERS, INC., currently with $0.8 million in OCUP stock with ownership of nearly 2.961% of the company’s market capitalization.
16 institutional holders increased their position in Ocuphire Pharma Inc. [NASDAQ:OCUP] by around 582,753 shares. Additionally, 20 investors decreased positions by around 424,149 shares, while 14 investors held positions by with 1,641,484 shares. The mentioned changes placed institutional holdings at 2,648,386 shares, according to the latest SEC report filing. OCUP stock had 6 new institutional investments in for a total of 283,294 shares, while 12 institutional investors sold positions of 285,170 shares during the same period.