OHR Pharmaceutical Inc (NASDAQ:OHRP) shares have taken off, adding 44.05% to trade at $3.27, after the company announced positive final results from a Phase II investigator sponsored clinical trial of OHR-102 in patients with macular edema secondary to branch and central retinal vein occlusion.
In response, Roth Capital analyst Elemer Piros reiterated a Buy rating on OHR Pharmaceutical stock with a price target of $30, which implies a huge upside of 818% from current levels.
Piros noted, “While the data were derived from a small number of patients and no statistics were provided, the visual acuity improvements achieved with the combination (+28 letters) may be superior to the ones observed in larger studies (<20 letter improvements) with other agents.” The analyst continued, “The worldwide (U.S., Europe, Asia and Australia) prevalence of RVO is estimated to be 16MM patients (Rogers S, et al., Ophthalmology (2010) 117(2): 313-319). We plan to provide a market estimate for OHR-102 for this indication, once the regulatory strategy will be pronounced by Ohr Pharma.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Elemer Piros has a total average return of -8.8% and a 35.7% success rate. Piros has a -44.2% average return when recommending OHRP, and is ranked #3331 out of 3694 analysts.
Out of the 4 analysts polled by TipRanks, 3 rate OHR Pharmaceutical Inc stock a Buy, while 1 rates the stock a Hold. With a return potential of 546.7%, the stock’s consensus target price stands at $20.50.