OKYO Pharma (NASDAQ:OKYO) Upgraded by Piper Sandler to “Strong-Buy” Rating

OKYO Pharma (NASDAQ:OKYO) was upgraded by equities researchers at Piper Sandler to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

OKYO has been the subject of several other reports. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of OKYO Pharma in a research report on Thursday, January 29th. Weiss Ratings restated a “sell (d-)” rating on shares of OKYO Pharma in a report on Thursday, January 22nd. Finally, B. Riley Financial began coverage on shares of OKYO Pharma in a research report on Monday, December 8th. They issued a “buy” rating and a $5.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $6.33.

OKYO Pharma Price Performance

OKYO Pharma stock opened at $1.70 on Friday. The company’s 50 day moving average price is $2.11 and its two-hundred day moving average price is $2.23. OKYO Pharma has a 52 week low of $1.03 and a 52 week high of $3.35.

OKYO Pharma (NASDAQ:OKYO) last issued its quarterly earnings results on Friday, January 30th. The company reported ($2.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($2.21). On average, analysts forecast that OKYO Pharma will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On OKYO Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC purchased a new position in shares of OKYO Pharma in the third quarter worth about $31,000. XTX Topco Ltd purchased a new stake in shares of OKYO Pharma during the 4th quarter valued at approximately $36,000. Finally, Renaissance Technologies LLC boosted its holdings in OKYO Pharma by 235.0% in the 4th quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock worth $286,000 after buying an additional 96,800 shares during the period. Institutional investors own 2.97% of the company’s stock.

About OKYO Pharma

Okyo Pharma Inc is a clinical-stage biopharmaceutical company focused on developing novel therapies for inflammatory and fibrotic diseases. The company’s pipeline is built on proprietary Fc-fusion technology designed to modulate immune responses associated with conditions such as diabetic nephropathy and chronic graft-versus-host disease. Okyo Pharma seeks to address significant unmet medical needs by targeting key cytokine pathways involved in tissue inflammation and fibrosis.

Okyo Pharma’s lead product candidate, OK-101, is an Fc-fusion protein in Phase 2 development for the treatment of diabetic kidney disease.