Ohr Pharmaceutical Inc. (NASDAQ:OHRP) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 889,505 shares, a drop of 41.6% from the October 14th total of 1,523,115 shares. Currently, 3.2% of the shares of the stock are sold short. Based on an average daily volume of 245,997 shares, the days-to-cover ratio is presently 3.6 days.

Shares of Ohr Pharmaceutical (NASDAQ:OHRP) opened at 3.00 on Friday. Ohr Pharmaceutical has a 12-month low of $2.44 and a 12-month high of $6.56. The firm has a 50-day moving average price of $2.99 and a 200 day moving average price of $2.87. The stock’s market cap is $96.31 million.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Opaleye Management Inc. purchased a new stake in shares of Ohr Pharmaceutical during the first quarter valued at $1,175,000. Bank of New York Mellon Corp raised its stake in shares of 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 period. GSA Capital Partners LLP purchased a new stake in shares of Ohr Pharmaceutical during the second quarter valued at $144,000. Vanguard Group Inc. raised its stake in shares of 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 period. Finally, BlackRock Fund Advisors raised its stake in shares of 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 period. 11.27% of the stock is owned by institutional investors.

Several research firms have commented on OHRP. Brean Capital began coverage on Ohr Pharmaceutical in a report on Tuesday, October 4th. They issued a “hold” rating for the company. Zacks Investment Research upgraded Ohr Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $3.25 price target for the company in a report on Wednesday, October 12th. Finally, HC Wainwright began coverage on Ohr Pharmaceutical in a report on Thursday, October 27th. They issued a “buy” rating and a $10.00 price target for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $14.06.

5 Day Chart for NASDAQ:OHRP

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