Zacks Investment Research upgraded shares of Ohr Pharmaceutical Inc. (NASDAQ:OHRP) from a hold rating to a strong-buy rating in a research note released on Wednesday morning. Zacks Investment Research currently has $3.25 price objective on the stock.
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 have also recently commented on the stock. Brean Capital initiated coverage on shares of Ohr Pharmaceutical in a research note on Tuesday, October 4th. They issued a hold rating on the stock. Roth Capital reissued a buy rating and issued a $13.00 price objective on shares of Ohr Pharmaceutical in a research note on Thursday, June 16th.
Shares of Ohr Pharmaceutical (NASDAQ:OHRP) opened at 3.30 on Wednesday. The firm’s market capitalization is $105.94 million. The firm’s 50 day moving average is $2.77 and its 200-day moving average is $2.91. Ohr Pharmaceutical has a 12 month low of $2.44 and a 12 month high of $6.56.
Ohr Pharmaceutical (NASDAQ:OHRP) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.03. On average, analysts expect that Ohr Pharmaceutical will post ($1.32) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OHRP. 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 worth $490,000 after buying an additional 5,794 shares during the period. Opaleye Management Inc. purchased a new position in Ohr Pharmaceutical during the first quarter worth about $1,175,000. Bank of New York Mellon Corp raised its position 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 position in Ohr Pharmaceutical during the second quarter worth about $144,000. Finally, 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 worth $2,528,000 after buying an additional 9,763 shares during the period. Institutional investors own 11.28% of the company’s stock.
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