Zacks Investment Research upgraded shares of Ohr Pharmaceutical Inc. (NASDAQ:OHRP) from a hold rating to a strong-buy rating in a report issued on Wednesday. The brokerage currently has $3.25 price target on the stock.
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. “
Several other equities research analysts have also issued reports on the company. Roth Capital reaffirmed a buy rating and issued a $13.00 price objective on shares of Ohr Pharmaceutical in a research note on Thursday, June 16th. Brean Capital started coverage on Ohr Pharmaceutical in a research note on Tuesday, October 4th. They issued a hold rating for the company.
Shares of Ohr Pharmaceutical (NASDAQ:OHRP) traded up 8.39% during midday trading on Wednesday, reaching $3.10. The company had a trading volume of 84,085 shares. Ohr Pharmaceutical has a 1-year low of $2.44 and a 1-year high of $6.56. The stock’s market capitalization is $99.52 million. The firm’s 50 day moving average price is $2.76 and its 200-day moving average price is $2.92.
Ohr Pharmaceutical (NASDAQ:OHRP) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.03. Equities research analysts expect that Ohr Pharmaceutical will post ($1.32) EPS for the current fiscal year.
Several large investors have recently modified their holdings of the company. Opaleye Management Inc. acquired a new stake in shares of Ohr Pharmaceutical during the first quarter worth about $1,175,000. GSA Capital Partners LLP acquired a new stake in shares of Ohr Pharmaceutical during the second quarter worth about $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 worth $2,528,000 after buying an additional 9,763 shares in the last quarter. 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 worth $206,000 after buying an additional 9,685 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Ohr Pharmaceutical by 3.9% in the first quarter. Geode Capital Management LLC now owns 152,915 shares of the company’s stock worth $490,000 after buying an additional 5,794 shares in the last quarter. 11.28% of the stock is owned by hedge funds and other institutional investors.