Roth Capital cut shares of Ohr Pharmaceuticals (NASDAQ:OHRP) from a buy rating to a neutral rating in a research report released on Friday, Marketbeat Ratings reports. The brokerage currently has $7.00 price objective on the biotechnology company’s stock.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Ohr Pharmaceuticals from a hold rating to a buy rating and set a $0.75 price objective for the company in a research report on Wednesday, October 25th. ValuEngine raised shares of Ohr Pharmaceuticals from a strong sell rating to a sell rating in a research report on Friday, December 1st.

Shares of Ohr Pharmaceuticals (OHRP) traded up $0.01 during mid-day trading on Friday, reaching $0.39. 19,462,900 shares of the company’s stock were exchanged, compared to its average volume of 11,510,859. Ohr Pharmaceuticals has a twelve month low of $0.35 and a twelve month high of $2.18. The company has a market cap of $21.87, a P/E ratio of -0.66 and a beta of 0.48.

Institutional investors have recently added to or reduced their stakes in the company. Wedbush Securities Inc. bought a new position in shares of Ohr Pharmaceuticals during the 3rd quarter valued at approximately $311,000. Garrison Bradford & Associates Inc. grew its position in shares of 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 acquiring an additional 412,000 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 5,481 shares during the period. 8.25% of the stock is owned by hedge funds and other institutional investors.

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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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