Shares of Ohr Pharmaceuticals, Inc. (NASDAQ:OHRP) shot up 7.2% during trading on Thursday . The company traded as high as $0.76 and last traded at $0.74. 720,200 shares were traded during mid-day trading, an increase of 184% from the average session volume of 253,457 shares. The stock had previously closed at $0.69.

A number of brokerages have recently commented on OHRP. Zacks Investment Research downgraded Ohr Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th. HC Wainwright set a $10.00 target price on Ohr Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, August 16th.

A number of hedge funds have recently modified their holdings of OHRP. Wedbush Securities Inc. purchased a new position in Ohr Pharmaceuticals during the third quarter worth approximately $311,000. Garrison Bradford & Associates Inc. boosted its position in Ohr Pharmaceuticals by 482.4% during the third quarter. Garrison Bradford & Associates Inc. now owns 497,415 shares of the biotechnology company’s stock worth $358,000 after purchasing an additional 412,000 shares in the last quarter. Cannell Peter B & Co. Inc. purchased a new position in Ohr Pharmaceuticals during the second quarter worth approximately $187,000. Renaissance Technologies LLC boosted its position in Ohr Pharmaceuticals by 242.3% during the first quarter. Renaissance Technologies LLC now owns 229,709 shares of the biotechnology company’s stock worth $191,000 after purchasing an additional 162,600 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Ohr Pharmaceuticals by 0.7% during the second quarter. Vanguard Group Inc. now owns 812,418 shares of the biotechnology company’s stock worth $520,000 after purchasing an additional 5,481 shares in the last quarter. Institutional investors own 8.92% of the company’s stock.

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About Ohr Pharmaceuticals

OHR Pharmaceutical, Inc, a pharmaceutical company, focuses on the development of novel therapeutics and delivery technologies for the treatment of ocular disease. Its lead clinical program is topical Squalamine, a small molecule anti-angiogenic drug, which could provide a non-invasive therapy to enhance vision outcomes.

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