Chardan Capital Trims Ritter Pharmaceuticals, Inc. (NASDAQ:RTTR) Target Price to $1.50
Ritter Pharmaceuticals, Inc. (NASDAQ:RTTR) had its price objective cut by equities researchers at Chardan Capital from $3.50 to $1.50 in a report released on Tuesday. The firm presently has a “buy” rating on the biotechnology company’s stock. Chardan Capital’s price target suggests a potential upside of 150.00% from the stock’s previous close.
A number of other research firms have also commented on RTTR. Maxim Group reaffirmed a “hold” rating on shares of Ritter Pharmaceuticals in a research note on Friday. Zacks Investment Research raised shares of Ritter Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research note on Tuesday, May 23rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Ritter Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $4.88.
Shares of Ritter Pharmaceuticals (RTTR) traded down 3.33% on Tuesday, reaching $0.58. The company’s stock had a trading volume of 43,353 shares. The stock’s market capitalization is $8.48 million. Ritter Pharmaceuticals has a 1-year low of $0.50 and a 1-year high of $3.75. The stock has a 50-day moving average of $0.58 and a 200 day moving average of $1.53.
Ritter Pharmaceuticals (NASDAQ:RTTR) last posted its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). On average, equities analysts forecast that Ritter Pharmaceuticals will post ($1.25) EPS for the current year.
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Several large investors have recently modified their holdings of the stock. Baker BROS. Advisors LP bought a new stake in shares of Ritter Pharmaceuticals during the third quarter worth about $672,000. Knoll Capital Management LP bought a new stake in shares of Ritter Pharmaceuticals during the third quarter worth about $869,000. Alyeska Investment Group L.P. bought a new stake in shares of Ritter Pharmaceuticals during the fourth quarter worth about $1,768,000. Finally, KCG Holdings Inc. raised its stake in shares of Ritter Pharmaceuticals by 259.0% in the first quarter. KCG Holdings Inc. now owns 105,409 shares of the biotechnology company’s stock worth $150,000 after buying an additional 76,046 shares during the period. 13.95% of the stock is owned by institutional investors.
About Ritter Pharmaceuticals
Ritter Pharmaceuticals, Inc develops therapeutic products that modulate the human gut microbiome to treat gastrointestinal diseases. The Company’s segment is focusing on the development and commercialization of RP-G28. The Company conducts human gut health research by exploring metabolic capacity of the gut microbiota and translating the functionality of prebiotic-based therapeutics into applications intended to have impact on a patient’s health.
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