Roth Capital Resumes Ohr Pharmaceutical (OHRP) at 'Buy'; Believes Market Undervaluing Potential

Roth Capital restarts coverage on OHR Pharmaceutical (Nasdaq: OHRP) with a Buy rating and $13 price target.

On the resumption, analyst Joseph Pantginis commented today:

OHRP recently completed the Phase II IMPACT study for wet-AMD, where the effect of Lucentis co-administered with OHR-102 (combination therapy) or Lucentis co-administered with placebo (monotherapy) was evaluated. Analysis of the Phase II data showed that there was a 54% additional benefit for a specific subpopulation of patients who received combination therapy as compared to those who received monotherapy for gains in three or more lines of vision. Furthermore, a clinically meaningful benefit of +5.3 letter mean gain for the combination therapy arm over the monotherapy arm was observed. OHRP has recently launched a multicenter, randomized, doublemasked, placebo-controlled Phase III study. Complete primary endpoint data is expected by December 2017. Approval of OHR-102 for use in combination with Lucentis for wet-AMD eases the path for approval for its use in additional ocular diseases that Lucentis is approved for such as macular edema following retinal vein occlusion and diabetic macular edema.

Pantginis believes the current valuation of OHR doesn't reflect 1) its late stage status (Phase III under SPA), 2) positive Phase II data supporting Phase III patient selection and 3) a broad pipeline for squalamine and the sustained release SKS platform.

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

You May Also Be Interested In

• Loop Capital Starts DoorDash Inc. (DASH) at Buy, 'Category Killer with Stellar Execution'
• Loop Capital Starts Instacart (CART) at Buy, 'Leading a Massive and Underpenetrated Category'
• RBC Capital Starts Inspire Medical Systems (INSP) at Outperform