Ohr Pharmaceutical Inc. (NASDAQ:OHRP) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday.
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 equities research analysts also recently weighed in on the company. Brean Capital started coverage on Ohr Pharmaceutical in a research report on Tuesday. They issued a “hold” rating for the company. Roth Capital reiterated a “buy” rating and set a $13.00 price objective on shares of Ohr Pharmaceutical in a research report on Thursday, June 16th.
Shares of Ohr Pharmaceutical (NASDAQ:OHRP) opened at 2.74 on Wednesday. Ohr Pharmaceutical has a 52-week low of $2.44 and a 52-week high of $6.56. The firm’s 50-day moving average price is $2.74 and its 200-day moving average price is $2.93. The firm’s market capitalization is $87.96 million.
Ohr Pharmaceutical (NASDAQ:OHRP) last issued 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. On average, equities analysts predict that Ohr Pharmaceutical will post ($1.32) earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Ohr Pharmaceutical by 3.9% in the first quarter. Geode Capital Management LLC now owns 152,915 shares of the company’s stock worth $490,000 after buying an additional 5,794 shares during the period. Opaleye Management Inc. purchased a new stake in Ohr Pharmaceutical during the first quarter worth about $1,175,000. Bank of New York Mellon Corp boosted its stake in 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 worth $164,000 after buying an additional 757 shares during the period. GSA Capital Partners LLP purchased a new stake in Ohr Pharmaceutical during the second quarter worth about $144,000. Finally, Vanguard Group Inc. boosted its stake in Ohr Pharmaceutical by 1.1% in the second quarter. Vanguard Group Inc. now owns 922,616 shares of the company’s stock worth $2,528,000 after buying an additional 9,763 shares during the period. 11.32% of the stock is currently owned by hedge funds and other institutional investors.
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