In a report released today, Prakhar Agrawal from JonesTrading initiated coverage with a Buy rating on Ocuphire Pharma (OCUP – Research Report) and a price target of $20.00. The company’s shares closed last Thursday at $5.79.
According to TipRanks.com, Agrawal is a 1-star analyst with an average return of -3.6% and a 41.7% success rate. Agrawal covers the Healthcare sector, focusing on stocks such as Arcutis Biotherapeutics, Phathom Pharmaceuticals, and Aldeyra Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ocuphire Pharma with a $21.67 average price target, representing a 269.8% upside. In a report issued on April 5, Alliance Global Partners also initiated coverage with a Buy rating on the stock with a $25.00 price target.
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Rexahn Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company, which engages in the research and development of oncology therapeutics. Its drug candidates include the following: RX-31171 for pancreatic, bladder, colon, and lung cancer; and RX-5902 for metastatic triple negative breast cancer. The company was founded by Chang Ho Ahn on March 19, 2001 and is headquartered in Rockville, MD.