Roth Capital began coverage on shares of Ohr Pharmaceuticals (NASDAQ:OHRP) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $7.00 price objective on the biotechnology company’s stock.

A number of other equities analysts also recently issued reports on OHRP. HC Wainwright set a $10.00 price target on Ohr Pharmaceuticals and gave the company a buy rating in a research note on Wednesday, August 16th. Zacks Investment Research upgraded Ohr Pharmaceuticals from a hold rating to a strong-buy rating and set a $0.75 price target for the company in a research note on Saturday, August 19th.

Ohr Pharmaceuticals (OHRP) traded down $0.05 during mid-day trading on Monday, reaching $0.85. The company’s stock had a trading volume of 922,800 shares, compared to its average volume of 299,059. Ohr Pharmaceuticals has a fifty-two week low of $0.56 and a fifty-two week high of $2.89.

Hedge funds have recently added to or reduced their stakes in the business. Cannell Peter B & Co. Inc. acquired a new position in Ohr Pharmaceuticals during the 2nd quarter valued at about $187,000. Renaissance Technologies LLC boosted its stake in Ohr Pharmaceuticals by 242.3% during 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. Wedbush Securities Inc. acquired a new position in Ohr Pharmaceuticals during the 3rd quarter valued at about $311,000. Garrison Bradford & Associates Inc. boosted its stake in Ohr Pharmaceuticals by 482.4% during 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. Finally, Vanguard Group Inc. boosted its stake in Ohr Pharmaceuticals by 0.7% during 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. Institutional investors and hedge funds own 8.40% of the company’s stock.

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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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