Roth Capital Downgrades Ohr Pharmaceuticals (OHRP) to Neutral

Roth Capital cut shares of Ohr Pharmaceuticals (NASDAQ:OHRP) from a buy rating to a neutral rating in a research note published on Friday, January 5th, MarketBeat Ratings reports. The firm currently has $7.00 price objective on the biotechnology company’s stock.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Ohr Pharmaceuticals from a hold rating to a buy rating and set a $0.75 price target on the stock in a report on Wednesday, October 25th. ValuEngine upgraded Ohr Pharmaceuticals from a strong sell rating to a sell rating in a report on Friday, December 1st.

Shares of Ohr Pharmaceuticals (NASDAQ:OHRP) traded up $0.01 during midday trading on Friday, hitting $0.33. The stock had a trading volume of 2,764,859 shares, compared to its average volume of 4,420,000. Ohr Pharmaceuticals has a 12-month low of $0.31 and a 12-month high of $2.18. The stock has a market capitalization of $18.44, a P/E ratio of -0.56 and a beta of 0.48.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Garrison Bradford & Associates Inc. boosted its position in Ohr Pharmaceuticals by 482.4% during the 3rd quarter. Garrison Bradford & Associates Inc. now owns 497,415 shares of the biotechnology company’s stock valued at $358,000 after acquiring an additional 412,000 shares in the last quarter. Wedbush Securities Inc. bought a new stake in Ohr Pharmaceuticals during the 3rd quarter valued at $311,000. Finally, Vanguard Group Inc. boosted its position 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 in the last quarter. 8.25% of the stock is currently owned by institutional investors and hedge funds.

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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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