OCUP - Ocuphire up 36% as H.C. Wainwright initiates with a buy; sees 647% upside

Shares of Ocuphire Pharm (OCUP +36.2%) have jumped today after H.C. Wainwright initiated the stock with a buy rating and $26 price target (647% upside). Analyst Matthew Caufield writes that the company is benefitting from top-line phase 3 data of Nyxol (phentolamine) in reversing mydriasis and its potential benefit in combination with pilocarpine eye drops for Presbyopia. He adds that APX3330, an oral tablet in phase 2 for diabetic retinopathy and diabetic macular edema, is unvervalued. "We maintain investors have yet to fully engage with Ocuphire's Nyxol story and upcoming catalysts," Caufield says, Seeking Alpha contributor Ari Zoldan has also called Ocuphire undervalued, noting the company is targeting multi-billion dollar market opportunities in four indications.

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Ocuphire up 36% as H.C. Wainwright initiates with a buy; sees 647% upside