Ohr Pharmaceuticals, Inc. (NASDAQ:OHRP) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 672,361 shares, a decline of 33.5% from the August 31st total of 1,011,602 shares. Based on an average daily trading volume, of 226,146 shares, the short-interest ratio is presently 3.0 days. Approximately 1.3% of the company’s shares are short sold.

OHRP has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Ohr Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $0.75 target price on the stock in a report on Saturday, August 19th. HC Wainwright set a $10.00 target price on shares of Ohr Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 16th.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Ohr Pharmaceuticals by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 812,418 shares of the biotechnology company’s stock worth $520,000 after purchasing an additional 5,481 shares during the last quarter. Cannell Peter B & Co. Inc. acquired a new position in shares of Ohr Pharmaceuticals during the 2nd quarter worth $187,000. Sabby Management LLC increased its stake in shares of Ohr Pharmaceuticals by 30.5% during the 1st quarter. Sabby Management LLC now owns 1,509,315 shares of the biotechnology company’s stock worth $1,253,000 after purchasing an additional 352,922 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Ohr Pharmaceuticals by 242.3% during the 1st quarter. Renaissance Technologies LLC now owns 229,709 shares of the biotechnology company’s stock worth $191,000 after purchasing an additional 162,600 shares during the last quarter. Institutional investors own 7.02% of the company’s stock.

Ohr Pharmaceuticals (OHRP) opened at 0.69 on Thursday. The company’s 50 day moving average is $0.73 and its 200 day moving average is $0.69. Ohr Pharmaceuticals has a 12-month low of $0.56 and a 12-month high of $4.05. The firm’s market cap is $38.79 million.

Ohr Pharmaceuticals (NASDAQ:OHRP) last announced its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.18. On average, equities analysts anticipate that Ohr Pharmaceuticals will post ($0.67) earnings per share for the current year.

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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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