Zacks Investment Research upgraded shares of Ritter Pharmaceuticals Inc (NASDAQ:RTTR) from a hold rating to a buy rating in a research report released on Tuesday. Zacks Investment Research currently has $0.75 price objective on the biotechnology company’s stock.
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. “
RTTR has been the subject of a number of other research reports. Aegis reissued a buy rating on shares of Ritter Pharmaceuticals in a research report on Tuesday, March 7th. Chardan Capital cut their price target on Ritter Pharmaceuticals from $4.50 to $3.50 and set a buy rating on the stock in a report on Thursday, March 30th. Finally, Maxim Group restated a buy rating and set a $5.00 price target on shares of Ritter Pharmaceuticals in a report on Monday, March 20th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Ritter Pharmaceuticals presently has a consensus rating of Buy and a consensus target price of $5.21.
Ritter Pharmaceuticals (NASDAQ:RTTR) traded up 6.12% on Tuesday, reaching $0.72. 185,827 shares of the company traded hands. The firm has a 50 day moving average of $0.86 and a 200-day moving average of $2.23. The stock’s market capitalization is $8.37 million. Ritter Pharmaceuticals has a one year low of $0.55 and a one year high of $3.75.
Ritter Pharmaceuticals (NASDAQ:RTTR) last released its earnings results on Tuesday, May 9th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.24. On average, analysts anticipate that Ritter Pharmaceuticals will post ($1.48) EPS for the current year.
In other news, CEO Michael D. Step acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was bought at an average price of $2.65 per share, with a total value of $26,500.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 41,000 shares of company stock valued at $45,720. Insiders own 49.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of RTTR. KCG Holdings Inc. increased its stake in shares of Ritter Pharmaceuticals by 259.0% in the first quarter. KCG Holdings Inc. now owns 105,409 shares of the biotechnology company’s stock worth $150,000 after buying an additional 76,046 shares during the period. Vanguard Group Inc. increased its stake in shares of Ritter Pharmaceuticals by 30.7% in the first quarter. Vanguard Group Inc. now owns 163,361 shares of the biotechnology company’s stock worth $232,000 after buying an additional 38,372 shares during the period. Baker BROS. Advisors LP acquired a new stake in shares of Ritter Pharmaceuticals during the third quarter worth about $672,000. Knoll Capital Management LP acquired a new stake in shares of Ritter Pharmaceuticals during the third quarter worth about $869,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Ritter Pharmaceuticals during the fourth quarter worth about $1,768,000. Institutional investors and hedge funds own 9.60% of the company’s stock.
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.
Receive News & Ratings for Ritter Pharmaceuticals Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ritter Pharmaceuticals Inc and related companies with our FREE daily email newsletter.