OHR Pharmaceutical Inc (OHRP) Short Interest Up 47.8% in January

OHR Pharmaceutical Inc (NASDAQ:OHRP) was the recipient of a large increase in short interest during the month of January. As of January 12th, there was short interest totalling 3,075,035 shares, an increase of 47.8% from the December 29th total of 2,080,161 shares. Currently, 5.7% of the company’s shares are sold short. Based on an average daily trading volume, of 7,535,665 shares, the days-to-cover ratio is presently 0.4 days.

Shares of OHR Pharmaceutical (OHRP) opened at $0.33 on Friday. The firm has a market capitalization of $18.27, a P/E ratio of -0.56 and a beta of 0.48. OHR Pharmaceutical has a 1 year low of $0.31 and a 1 year high of $2.18.

OHR Pharmaceutical (NASDAQ:OHRP) last issued its quarterly earnings data on Friday, December 15th. The biotechnology company reported ($0.08) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.08).

OHRP has been the topic of a number of recent analyst reports. Roth Capital initiated coverage on OHR Pharmaceutical in a research report on Monday, November 27th. They issued a “buy” rating and a $7.00 price objective on the stock. Zacks Investment Research upgraded OHR Pharmaceutical from a “hold” rating to a “buy” rating and set a $0.75 price objective on the stock in a research report on Wednesday, October 18th. Finally, ValuEngine upgraded OHR Pharmaceutical from a “strong sell” rating to a “sell” rating in a research report on Friday, December 1st.

Hedge funds have recently modified their holdings of the company. Wedbush Securities Inc. bought a new stake in shares of OHR Pharmaceutical in the 3rd quarter worth approximately $311,000. Garrison Bradford & Associates Inc. boosted its position in shares of OHR Pharmaceutical by 482.4% during the third 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 in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of OHR Pharmaceutical by 0.7% during the second 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 in the last quarter. Hedge funds and other institutional investors own 8.25% of the company’s stock.

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About OHR Pharmaceutical

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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