Zacks Investment Research cut shares of Ritter Pharmaceuticals, Inc. (NASDAQ:RTTR) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.
According to Zacks, “Ritter Pharmaceuticals, Inc. is involved in developing therapeutic products to treat inflammatory, gastrointestinal and metabolic diseases. Its lead product candidate is RP-G28, a novel microbiome modulator, which is under development for the reduction of symptoms associated with lactose intolerance. Ritter Pharmaceuticals, Inc. is headquartered in Los Angeles, California. “
Other equities research analysts have also issued research reports about the company. Chardan Capital decreased their price target on Ritter Pharmaceuticals from $3.50 to $1.50 and set a buy rating on the stock in a research note on Tuesday, August 8th. Maxim Group reaffirmed a hold rating on shares of Ritter Pharmaceuticals in a research note on Friday, August 4th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Ritter Pharmaceuticals presently has an average rating of Buy and an average price target of $4.83.
Ritter Pharmaceuticals (NASDAQ RTTR) opened at 0.538 on Friday. The stock’s market cap is $7.94 million. Ritter Pharmaceuticals has a 52-week low of $0.51 and a 52-week high of $3.75. The stock has a 50 day moving average price of $0.55 and a 200 day moving average price of $0.55.
Ritter Pharmaceuticals (NASDAQ:RTTR) last announced its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.14) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.14). On average, equities research analysts forecast that Ritter Pharmaceuticals will post ($0.42) EPS for the current year.
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A hedge fund recently raised its stake in Ritter Pharmaceuticals stock. KCG Holdings Inc. boosted its stake in Ritter Pharmaceuticals, Inc. (NASDAQ:RTTR) by 259.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 105,409 shares of the biotechnology company’s stock after buying an additional 76,046 shares during the quarter. KCG Holdings Inc. owned approximately 0.91% of Ritter Pharmaceuticals worth $150,000 as of its most recent filing with the SEC. 7.55% of the stock is owned by institutional investors.
About Ritter Pharmaceuticals
Ritter Pharmaceuticals, Inc develops therapeutic products that modulate the human gut microbiome to treat gastrointestinal diseases. The Company’s segment is focusing on the development and commercialization of RP-G28. The Company conducts human gut health research by exploring metabolic capacity of the gut microbiota and translating the functionality of prebiotic-based therapeutics into applications intended to have impact on a patient’s health.
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