Ohr Pharmaceuticals (OHRP) Stock Price Up 6.5%

Ohr Pharmaceuticals, Inc. (NASDAQ:OHRP)’s share price rose 6.5% during trading on Wednesday . The stock traded as high as $1.98 and last traded at $1.98. Approximately 1,396,300 shares changed hands during mid-day trading, an increase of 29% from the average daily volume of 1,079,000 shares. The stock had previously closed at $1.86.

OHRP has been the topic of several recent analyst reports. Roth Capital initiated coverage on Ohr Pharmaceuticals in a report on Monday, November 27th. They issued a “buy” rating and a $7.00 target price on the stock. Zacks Investment Research raised Ohr Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.75 target price on the stock in a report on Wednesday, October 18th. Finally, ValuEngine raised Ohr Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, December 1st.

The company has a market cap of $114.64, a price-to-earnings ratio of -3.36 and a beta of 0.48.

A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its holdings in shares of Ohr Pharmaceuticals by 242.3% during 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 during the last quarter. Wedbush Securities Inc. purchased a new position in shares of Ohr Pharmaceuticals during the third quarter worth about $311,000. Garrison Bradford & Associates Inc. grew its holdings in shares of Ohr Pharmaceuticals by 482.4% during the third quarter. Garrison Bradford & Associates Inc. now owns 497,415 shares of the biotechnology company’s stock worth $358,000 after purchasing an additional 412,000 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Ohr Pharmaceuticals by 0.7% during 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 during the last quarter. 8.25% of the stock is currently owned by hedge funds and other institutional investors.

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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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