Ohr Pharmaceuticals (OHRP) Reaches New 52-Week Low at $0.34

Ohr Pharmaceuticals, Inc. (NASDAQ:OHRP)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $0.34 and last traded at $0.35, with a volume of 2933800 shares traded. The stock had previously closed at $0.37.

OHRP has been the subject of several research reports. Roth Capital initiated coverage on shares of Ohr Pharmaceuticals in a research note on Monday, November 27th. They issued a “buy” rating and a $7.00 price target for the company. Zacks Investment Research downgraded shares of Ohr Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Finally, ValuEngine upgraded shares of Ohr Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, December 1st.

The firm has a market cap of $18.44, a PE ratio of -0.56 and a beta of 0.48.

Institutional investors have recently added to or reduced their stakes in the company. Wedbush Securities Inc. purchased a new stake in shares of Ohr Pharmaceuticals during the 3rd quarter worth $311,000. Garrison Bradford & Associates Inc. lifted 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 worth $358,000 after purchasing an additional 412,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted 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 worth $520,000 after purchasing an additional 5,481 shares during the last quarter. 8.25% of the stock is owned by institutional investors and hedge funds.

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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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