Ritter Pharmaceuticals, Inc. (RTTR) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Ritter Pharmaceuticals, Inc. (NASDAQ:RTTR) from a hold rating to a buy rating in a research note published on Tuesday. Zacks Investment Research currently has $0.50 price target on the biotechnology company’s stock.
According to Zacks, “Ritter Pharmaceuticals, Inc. is involved in developing therapeutic products to treat inflammatory, gastrointestinal and metabolic diseases. Its lead product candidate is RP-G28, a novel microbiome modulator, which is under development for the reduction of symptoms associated with lactose intolerance. Ritter Pharmaceuticals, Inc. is headquartered in Los Angeles, California. “
A number of other equities research analysts have also recently weighed in on RTTR. Maxim Group restated a hold rating on shares of Ritter Pharmaceuticals in a research note on Wednesday, July 5th. Chardan Capital decreased their price target on Ritter Pharmaceuticals from $3.50 to $1.50 and set a buy rating for the company in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $4.83.
Ritter Pharmaceuticals (NASDAQ:RTTR) traded up 0.9893% during midday trading on Tuesday, reaching $0.3777. The company had a trading volume of 1,226,000 shares. Ritter Pharmaceuticals has a 1-year low of $0.34 and a 1-year high of $3.75. The firm has a 50-day moving average of $0.49 and a 200 day moving average of $0.49. The company’s market capitalization is $5.57 million.
Ritter Pharmaceuticals (NASDAQ:RTTR) last issued its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.14). On average, equities research analysts forecast that Ritter Pharmaceuticals will post ($0.42) EPS for the current year.
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A hedge fund recently raised its stake in Ritter Pharmaceuticals stock. KCG Holdings Inc. raised its holdings in Ritter Pharmaceuticals, Inc. (NASDAQ:RTTR) by 259.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 105,409 shares of the biotechnology company’s stock after buying an additional 76,046 shares during the quarter. KCG Holdings Inc. owned about 0.91% of Ritter Pharmaceuticals worth $150,000 at the end of the most recent reporting period. 7.55% of the stock is owned by hedge funds and other institutional investors.
About Ritter Pharmaceuticals
Ritter Pharmaceuticals, Inc develops therapeutic products that modulate the human gut microbiome to treat gastrointestinal diseases. The Company’s segment is focusing on the development and commercialization of RP-G28. The Company conducts human gut health research by exploring metabolic capacity of the gut microbiota and translating the functionality of prebiotic-based therapeutics into applications intended to have impact on a patient’s health.
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