Ohr Pharmaceuticals, Inc. (OHRP) Announces Earnings Results
Ohr Pharmaceuticals, Inc. (NASDAQ:OHRP) issued its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.18, Morningstar.com reports.
Ohr Pharmaceuticals (NASDAQ OHRP) traded up 6.65% during midday trading on Friday, reaching $0.64. The company’s stock had a trading volume of 121,722 shares. Ohr Pharmaceuticals has a 12-month low of $0.56 and a 12-month high of $4.05. The stock’s market cap is $35.98 million. The stock’s 50 day moving average is $0.63 and its 200 day moving average is $0.76.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Sabby Management LLC raised its position in shares of Ohr Pharmaceuticals by 30.5% in the first quarter. Sabby Management LLC now owns 1,509,315 shares of the biotechnology company’s stock worth $1,253,000 after buying an additional 352,922 shares in the last quarter. Cannell Peter B & Co. Inc. acquired a new position in shares of Ohr Pharmaceuticals during the second quarter worth $187,000. Renaissance Technologies LLC raised its position in shares of Ohr Pharmaceuticals by 242.3% in the first quarter. Renaissance Technologies LLC now owns 229,709 shares of the biotechnology company’s stock worth $191,000 after buying an additional 162,600 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Ohr Pharmaceuticals by 0.7% in the second quarter. Vanguard Group Inc. now owns 812,418 shares of the biotechnology company’s stock worth $520,000 after buying an additional 5,481 shares in the last quarter. 8.31% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Ohr Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.75 price target on the stock in a report on Tuesday, July 18th. HC Wainwright set a $10.00 price target on shares of Ohr Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday.
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