Ohr Pharmaceutical Inc. (OHRP) Rating Increased to Strong-Buy at Zacks Investment Research
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 currently has a $3.25 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 16.91% from the stock’s previous close.
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. “
Other analysts have also issued reports about the company. Roth Capital reissued a “buy” rating and set a $13.00 price objective on shares of Ohr Pharmaceutical in a report on Thursday, June 16th. Brean Capital lowered Ohr Pharmaceutical from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th.
Ohr Pharmaceutical (NASDAQ:OHRP) opened at 2.78 on Wednesday. The firm’s 50-day moving average price is $2.75 and its 200-day moving average price is $2.92. The company’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.
Ohr Pharmaceutical (NASDAQ:OHRP) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.03. Equities research analysts forecast that Ohr Pharmaceutical will post ($1.32) EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new position in Ohr Pharmaceutical during the second quarter valued at about $144,000. Bank of New York Mellon Corp increased 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 valued at $164,000 after buying an additional 757 shares during the last quarter. BlackRock Fund Advisors increased 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. Geode Capital Management LLC increased 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. Finally, Opaleye Management Inc. purchased a new position in Ohr Pharmaceutical during the first quarter valued at approximately $1,175,000. 11.32% of the stock is owned by institutional investors.
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