OCUP - Ocuphire's opportunity in mydriasis reversal is underappreciated: Cantor Fitzgerald

Cantor Fitzgerald has upgraded the price target of Ocuphire Pharma ([[OCUP]] -3.0%) following the positive top-line results announced by the company today in the MIRA-2 Phase 3 registration trial for Nyxol in the reversal of pharmacologically induced mydriasis.With a ~33.3% raise, the new price target of $20.00 per share indicates ~151.6% upside to the previous close.Noting that the trial led to statistically significant benefits, the analyst Kristen Kluska argues that the experimental treatment if ’successful and commercialized’ could result in a large potential for the company.However, Kluska also observes that investors have not appreciated the ‘large, de-risked opportunity' for reversal of mydriasis and the positive effects of Nyxol seen across multiple endpoints.In January, Ocuphire announced the peer-reviewed results from its ORION-1 Phase 2 clinical trial evaluating the safety and efficacy of Nyxol in glaucoma and presbyopia.

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Ocuphire’s opportunity in mydriasis reversal is underappreciated: Cantor Fitzgerald