Ohr Pharmaceutical Inc. (NASDAQ:OHRP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday. The firm presently has a $3.25 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 16.91% from the company’s current price.
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. “
OHRP has been the subject of several other reports. Brean Capital started coverage on shares of Ohr Pharmaceutical in a report on Tuesday, October 4th. They issued a “hold” rating for the company. Roth Capital reiterated a “buy” rating and set a $13.00 target price on shares of Ohr Pharmaceutical in a report on Thursday, June 16th.
Ohr Pharmaceutical (NASDAQ:OHRP) opened at 2.78 on Wednesday. The stock’s market cap is $89.25 million. Ohr Pharmaceutical has a 1-year low of $2.44 and a 1-year 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.
Ohr Pharmaceutical (NASDAQ:OHRP) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.24) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.03. Equities analysts expect that Ohr Pharmaceutical will post ($1.32) earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in OHRP. Opaleye Management Inc. acquired a new position in Ohr Pharmaceutical during the first quarter valued at about $1,175,000. GSA Capital Partners LLP acquired a new position in Ohr Pharmaceutical during the second quarter valued at about $144,000. Vanguard Group Inc. raised its position in 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. BlackRock Fund Advisors raised its position in Ohr Pharmaceutical by 14.8% in the second quarter. BlackRock Fund Advisors now owns 75,333 shares of the company’s stock valued at $206,000 after buying an additional 9,685 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in 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. Hedge funds and other institutional investors own 11.32% of the company’s stock.
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