Canaccord Genuity Initiates a Buy Rating on Ocuphire Pharma (OCUP)

By Jason Carr

Ocuphire Pharma (OCUPResearch Report) received a Buy rating and a $22.00 price target from Canaccord Genuity analyst John Newman today. The company’s shares closed last Tuesday at $10.57.

According to TipRanks.com, Newman is a 5-star analyst with an average return of 37.3% and a 52.5% success rate. Newman covers the Healthcare sector, focusing on stocks such as Atara Biotherapeutics, Allogene Therapeutics, and Aileron Therapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ocuphire Pharma with a $22.00 average 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.