Ocuphire Pharma Inc [NASDAQ: OCUP] stock went on a downward path that fall over -0.50% on Thursday, amounting to a one-week price decrease of less than -3.83%. The company report on March 8, 2024 at 8:00 AM that Ocuphire Pharma Announces Financial Results for Fourth Quarter and Full Year 2023 and Provides Corporate Update.
“Ocuphire had a successful 2023, with notable achievements on the regulatory and development fronts, paving the way for further progress in the year ahead,” said George Magrath, M.D., M.B.A., M.S., CEO of Ocuphire. “Our strategic focus is on the advancement of our retina pipeline, and we are preparing our late-stage clinical program to progress APX3330 in diabetic retinopathy (“DR”). We believe APX3330 may represent a promising oral treatment option for delaying disease progression in patients with non-proliferative diabetic retinopathy who otherwise are monitored and untreated until they progress to sight-threatening disease.”.
Over the last 12 months, OCUP stock dropped by -43.38%. The one-year Ocuphire Pharma Inc stock forecast points to a potential upside of 89.53. The average equity rating for OCUP stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $49.87 million, with 23.98 million shares outstanding and 22.91 million shares in the current float. Compared to the average trading volume of 201.55K shares, OCUP stock reached a trading volume of 124373 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 $19.20 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 1.00. 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 0.12, with the Price to Sales ratio for OCUP stock in the period of the last 12 months amounting to 2.62. The Price to Book ratio for the last quarter was 0.97, with the Price to Cash per share for the same quarter was set at 2.04.
OCUP Stock Performance Analysis:
Ocuphire Pharma Inc [OCUP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.83. With this latest performance, OCUP shares dropped by -22.39% in over the last four-week period, additionally sinking by -46.83% over the last 6 months – not to mention a drop of -43.38% 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 39.21, with the RSI for the last a single of trading hit 41.56, and the three-weeks RSI is set at 38.81 for Ocuphire Pharma Inc [OCUP]. The present Moving Average for the last 50 days of trading for this stock 2.42, while it was recorded at 2.01 for the last single week of trading, and 3.23 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 13.35 and a Current Ratio set at 13.35.
OCUP Stock EPS
With the latest financial reports released by the company, Ocuphire Pharma Inc posted -0.28/share EPS, while the average EPS was predicted by analysts to be reported at -0.15/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -86.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OCUP.
Ocuphire Pharma Inc [OCUP] Institutonal Ownership Details
The top three institutional holders of OCUP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in OCUP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in OCUP stock with ownership which is approximately 5.8325%.
