Ohr Pharmaceuticals, Inc. (OHRP) Rating Lowered to Hold at Zacks Investment Research

Ohr Pharmaceuticals, Inc. (NASDAQ:OHRP) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. “

Separately, HC Wainwright set a $10.00 price objective on Ohr Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 16th.

Ohr Pharmaceuticals (NASDAQ:OHRP) last released its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.18.

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A number of institutional investors have recently made changes to their positions in OHRP. Renaissance Technologies LLC raised its holdings in 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 purchasing an additional 162,600 shares in the last quarter. Sabby Management LLC raised its holdings in 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 purchasing an additional 352,922 shares in the last quarter. Cannell Peter B & Co. Inc. bought a new position in Ohr Pharmaceuticals in the second quarter worth about $187,000. Finally, Vanguard Group Inc. raised its holdings in 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 purchasing an additional 5,481 shares in the last quarter. Institutional investors and hedge funds own 7.02% of the company’s stock.

Ohr Pharmaceuticals Company Profile

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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