Maxim Group Initiates Coverage on Ritter Pharmaceuticals Inc to Buy

Maxim Group Initiates Coverage on Ritter Pharmaceuticals Inc(NASDAQ:RTTR). The shares have been rated Buy. The rating by Maxim Group was issued on Apr 14, 2016.

Ritter Pharmaceuticals Inc (RTTR) made into the market gainers list on Mondays trading session with the shares advancing 11.84% or 0.18 points. Due to strong positive momentum, the stock ended at $1.7, which is also near the day’s high of $1.82. The stock began the session at $1.558 and the volume stood at 1,51,193 shares. The 52-week high of the shares is $5.4999 and the 52 week low is $0.9807. The company has a current market capitalization of $15 M and it has 85,84,661 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jan 11, 2016, Matthew W Foehr (director) purchased 13,000 shares at $1.64 per share price.Also, On Jan 8, 2016, Michael D Step (CEO) purchased 27,000 shares at $1.48 per share price.On Jun 26, 2015, Noah Doyle (director) purchased 800,000 shares at $5.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Ritter Pharmaceuticals Inc. develops therapeutic products which modulate the human gut microbiome to treat gastrointestinal diseases. The Company is engaged in human gut health research by exploring the metabolic capacity of the gut microbiota. The Company’s platform is based on selectively colonizing microbiota (increasing beneficial bacteria) in the colon and thus changing the colon’s composition of microbiota. The Company’s first microbiome modulator RP-G28 is an orally administered galacto-oligosaccharide for the reduction of symptoms associated with lactose intolerance. RP-G28 is used for the growth of lactose-metabolizing bacteria in the colon such as bifid bacteria and lactobacilli. Its RP-G28 reduces the symptoms and frequency of episodes of abdominal pain which is associated with lactose intolerance. The primary endpoints included tracking patients’ gastrointestinal symptoms through a patient-reported symptom assessment instrument.

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