Ohr Pharmaceuticals (OHRP) Shares Down 6.7%

Shares of Ohr Pharmaceuticals, Inc. (NASDAQ:OHRP) were down 6.7% during mid-day trading on Wednesday . The company traded as low as $1.25 and last traded at $1.26. Approximately 2,182,873 shares traded hands during mid-day trading, an increase of 404% from the average daily volume of 433,153 shares. The stock had previously closed at $1.35.

A number of analysts have recently weighed in on OHRP shares. Roth Capital started coverage on shares of Ohr Pharmaceuticals in a report on Monday, November 27th. They set a “buy” rating and a $7.00 price target for the company. Zacks Investment Research raised shares of Ohr Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.75 price target for the company in a report on Wednesday, October 25th. ValuEngine raised shares of Ohr Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, December 1st. Finally, HC Wainwright set a $10.00 price target on shares of Ohr Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 16th.

Institutional investors have recently modified their holdings of the company. Garrison Bradford & Associates Inc. lifted its stake in Ohr Pharmaceuticals by 482.4% in the 3rd quarter. Garrison Bradford & Associates Inc. now owns 497,415 shares of the biotechnology company’s stock valued at $358,000 after purchasing an additional 412,000 shares during the last quarter. Wedbush Securities Inc. bought a new position in Ohr Pharmaceuticals in the 3rd quarter valued at approximately $311,000. Vanguard Group Inc. lifted its stake in Ohr Pharmaceuticals by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 812,418 shares of the biotechnology company’s stock valued at $520,000 after purchasing an additional 5,481 shares during the last quarter. Cannell Peter B & Co. Inc. bought a new position in Ohr Pharmaceuticals in the 2nd quarter valued at approximately $187,000. Finally, Renaissance Technologies LLC lifted its stake in Ohr Pharmaceuticals by 242.3% in the 1st quarter. Renaissance Technologies LLC now owns 229,709 shares of the biotechnology company’s stock valued at $191,000 after purchasing an additional 162,600 shares during the last quarter. 8.40% of the stock is owned by 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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