Ohr Pharmaceuticals, Inc. (NASDAQ:OHRP) Downgraded by Zacks Investment Research to “Hold”

Ohr Pharmaceuticals, Inc. (NASDAQ:OHRP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, July 20th.

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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. “

Ohr Pharmaceuticals (NASDAQ:OHRP) opened at 0.60 on Thursday. The stock’s 50 day moving average is $0.63 and its 200 day moving average is $0.82. The stock’s market cap is $33.73 million. Ohr Pharmaceuticals has a 52 week low of $0.56 and a 52 week high of $4.05.

Ohr Pharmaceuticals (NASDAQ:OHRP) last released its earnings results on Thursday, May 11th. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.09. Analysts predict that Ohr Pharmaceuticals will post ($0.95) EPS for the current year.

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An institutional investor recently raised its position in Ohr Pharmaceuticals stock. Sabby Management LLC raised its position in Ohr Pharmaceuticals, Inc. (NASDAQ:OHRP) by 30.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,509,315 shares of the biotechnology company’s stock after buying an additional 352,922 shares during the period. Sabby Management LLC owned approximately 4.20% of Ohr Pharmaceuticals worth $1,253,000 at the end of the most recent quarter. 8.29% of the stock is owned by institutional investors.

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