Ohr Pharmaceutical Inc. (OHRP) Stock Rating Upgraded by Zacks Investment Research
Ohr Pharmaceutical Inc. (NASDAQ:OHRP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday. The firm presently has a $3.25 price objective on the stock. Zacks Investment Research’s price target suggests a potential upside of 14.84% from the stock’s previous close.
According to Zacks, “Ohr Pharmaceutical, Inc. is a pharmaceutical company. It is focused on the development of novel therapeutics for the treatment of cancer cachexia, wet form of age-related macular degeneration and ophthalmic neovascularization disorders. Ohr Pharmaceutical, Inc. is headquartered in New York. “
A number of other research firms also recently issued reports on OHRP. Brean Capital downgraded Ohr Pharmaceutical from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Roth Capital reiterated a “buy” rating and issued a $13.00 price objective on shares of Ohr Pharmaceutical in a report on Thursday, June 16th.
Shares of Ohr Pharmaceutical (NASDAQ:OHRP) opened at 2.83 on Wednesday. Ohr Pharmaceutical has a 52 week low of $2.44 and a 52 week high of $6.56. The company has a 50-day moving average price of $2.75 and a 200-day moving average price of $2.92. The company’s market capitalization is $90.85 million.
Ohr Pharmaceutical (NASDAQ:OHRP) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.03. Analysts predict that Ohr Pharmaceutical will post ($1.32) earnings per share for the current year.
Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Ohr Pharmaceutical by 3.9% in the first quarter. Geode Capital Management LLC now owns 152,915 shares of the company’s stock valued at $490,000 after buying an additional 5,794 shares during the last quarter. Opaleye Management Inc. bought a new position in shares of Ohr Pharmaceutical during the first quarter valued at $1,175,000. Bank of New York Mellon Corp increased its position in shares of Ohr Pharmaceutical by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 60,069 shares of the company’s stock valued at $164,000 after buying an additional 757 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Ohr Pharmaceutical during the second quarter valued at $144,000. Finally, Vanguard Group Inc. increased its position in shares of Ohr Pharmaceutical by 1.1% in the second quarter. Vanguard Group Inc. now owns 922,616 shares of the company’s stock valued at $2,528,000 after buying an additional 9,763 shares during the last quarter. Hedge funds and other institutional investors own 11.32% of the company’s stock.
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