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Bull of the Day: Ohr Pharma (OHRP)

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I'm not sure if it's the fact that I've recently taken over a service called Home Run Investor or if it's the exciting baseball my Cubbies have been playing but I've got swinging for the fences on the brain. In today's Bull of the Day I've decided to find a stock that could be one of the top performers of the year from here on out. Granted it's been beat down a little bit here but that doesn't mean this turnaround story can't continue to develop.

Ohr Pharmaceutical Inc. ( OHRP ) is an ophthalmology research and development company whose lead product, Squalamine, is being studied as an eye drop formulation (OHR-102) in several company-sponsored and investigator sponsored Phase II clinical trials for various back-of-the-eye diseases. These diseases include wet-AMD, retinal vein occlusion, and proliferative diabetic retinopathy. In addition, Ohr has a sustained release micro fabricated micro-particle ocular drug delivery platform with several preclinical drug product candidates in development for glaucoma, steroid-induced glaucoma, ocular allergies, and protein drug delivery

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OHRP has managed to hang onto its Zacks Rank #1 (Strong Buy) despite price crumbling earlier in the year. The last earnings estimate revision for the current year saw EPS loss shrink from $1.18 to $1.06. What's been a big shot in the arm has been a couple of huge earnings beats over the last two quarters. Last quarter a 10 cent beat followed up on the 5 cent beat we saw in Q1.

In its last quarterly report, the company noted that "clinical programs for its lead candidate OHR-102 continue to yield positive visual acuity data and there is now a growing body of evidence demonstrating that OHR-102 has potential to be an important treatment option for patients with various of the back eye diseases." The data the company has collected are helping to design a Phase 3 clinical program with OHR-102 they expect to start before the end of 2015.

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Here I may have found a stock that used to be promising that people have given up on. Well it looks like it's beginning to come to life as shares have appreciated handsomely over the last month. Bad news dropped the stock from $9 all the way to below in a single day. The month of August has been kind as shares bottomed out near $.25 to rally to nearly $3.50 two days ago. Recent resistance near $4.25 could be a magnet for the next quick pop.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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