Ocuphire Pharma price target lowered to $11 from $18 at JonesResearch

JonesResearch lowered the firm’s price target on Ocuphire Pharma to $11 from $18 and keeps a Buy rating on the shares following a change in analyst. The analyst says developmental hurdles and regulatory delays with Ocuphire’s diabetic retinopathy candidate, APX3330, have pressured the stock. However, the firm believes APX3330 is likely to have a path forward. Post any favorable regulatory update in the near term, it sees “clear upside to the current valuation as the stock is trading near cash.”