Ohr Pharmaceuticals, Inc. (NASDAQ:OHRP) Posts Earnings Results, Beats Estimates By $0.18 EPS
Ohr Pharmaceuticals, Inc. (NASDAQ:OHRP) posted its quarterly earnings results on Tuesday. The biotechnology company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.18, Morningstar.com reports.
Shares of Ohr Pharmaceuticals (NASDAQ:OHRP) traded up 0.833% during mid-day trading on Wednesday, reaching $0.605. The company had a trading volume of 70,680 shares. Ohr Pharmaceuticals has a one year low of $0.56 and a one year high of $4.05. The stock has a 50 day moving average of $0.63 and a 200-day moving average of $0.83. The firm’s market capitalization is $34.01 million.
Institutional investors have recently made changes to their positions in the stock. Sabby Management LLC raised its position in shares of Ohr Pharmaceuticals by 30.5% in the first quarter. Sabby Management LLC now owns 1,509,315 shares of the biotechnology company’s stock valued at $1,253,000 after buying an additional 352,922 shares in the last quarter. Cannell Peter B & Co. Inc. bought a new position in shares of Ohr Pharmaceuticals during the second quarter valued at $187,000. Finally, Renaissance Technologies LLC raised its position in shares of Ohr Pharmaceuticals by 242.3% in the first quarter. Renaissance Technologies LLC now owns 229,709 shares of the biotechnology company’s stock valued at $191,000 after buying an additional 162,600 shares in the last quarter. Hedge funds and other institutional investors own 8.29% of the company’s stock.
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Separately, Zacks Investment Research raised Ohr Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.75 price target on the stock in a research note on Tuesday, July 18th.
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