UPDATE: Brean Capital Downgrades Ohr Pharmaceutical (OHRP) to Hold

August 10, 2016 7:04 AM EDT
Get Alerts OHRP Hot Sheet
Price: $1.50 -3.23%

Rating Summary:
    3 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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(Updated - August 10, 2016 9:48 AM EDT)

Brean Capital downgraded Ohr Pharmaceutical (NASDAQ: OHRP) from Buy to Hold and removed its price target (prior $30.00). Analyst Jonathan Aschoff expressed concerns about phase 3 funding and design.

"We are downgrading Ohr to Hold from Buy due to our concerns over the company being able to fund its Phase 3 program and the increased frequency of background therapy in Phase 3 versus Phase 2. The company still has not disclosed data it said was coming months ago regarding 20 wet AMD patients taking OHR-102 and monthly Lucentis versus monthly Lucentis only and we would appreciate seeing that data to gain more comfort in the Phase 3 design. Ohr will only say that the small trial is still ongoing," said Aschoff.

For an analyst ratings summary and ratings history on Ohr Pharmaceutical click here. For more ratings news on Ohr Pharmaceutical click here.

Shares of Ohr Pharmaceutical closed at $2.72 yesterday.

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