Ohr Pharmaceuticals, Inc. (OHRP) Rating Lowered to Hold at Zacks Investment Research

Ohr Pharmaceuticals, Inc. (NASDAQ:OHRP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

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. “

Separately, HC Wainwright set a $10.00 target price on Ohr Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 16th.

Shares of Ohr Pharmaceuticals (OHRP) opened at 0.6489 on Thursday. Ohr Pharmaceuticals has a one year low of $0.56 and a one year high of $3.35. The stock’s market cap is $36.48 million. The company has a 50 day moving average price of $0.71 and a 200-day moving average price of $0.67.

Ohr Pharmaceuticals (NASDAQ:OHRP) last issued its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.18. Equities analysts predict that Ohr Pharmaceuticals will post ($0.95) earnings per share for the current fiscal year.

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A number of hedge funds have recently modified their holdings of OHRP. Cannell Peter B & Co. Inc. purchased a new stake in Ohr Pharmaceuticals during the 2nd quarter valued at about $187,000. Renaissance Technologies LLC boosted its holdings in Ohr Pharmaceuticals by 242.3% during the 1st quarter. Renaissance Technologies LLC now owns 229,709 shares of the biotechnology company’s stock valued at $191,000 after acquiring an additional 162,600 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Ohr Pharmaceuticals by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 812,418 shares of the biotechnology company’s stock valued at $520,000 after acquiring an additional 5,481 shares during the period. Institutional investors own 7.03% of the company’s stock.

Ohr Pharmaceuticals Company Profile

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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