Oramed Pharmaceuticals (NASDAQ:ORMP) Upgraded by StockNews.com to “Hold”

Oramed Pharmaceuticals (NASDAQ:ORMPGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

A number of other research firms have also recently commented on ORMP. Cantor Fitzgerald initiated coverage on Oramed Pharmaceuticals in a research report on Friday, February 18th. They set an “overweight” rating and a $20.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Oramed Pharmaceuticals in a research report on Thursday, March 17th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $31.40.

Shares of ORMP stock traded up $0.24 during mid-day trading on Thursday, reaching $4.71. The stock had a trading volume of 372,980 shares, compared to its average volume of 692,276. The company has a market cap of $181.64 million, a P/E ratio of -6.12 and a beta of 2.02. The business has a 50-day simple moving average of $6.56 and a 200 day simple moving average of $11.38. Oramed Pharmaceuticals has a 12-month low of $3.74 and a 12-month high of $31.54.

In other Oramed Pharmaceuticals news, Director Kevin Rakin sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 21st. The stock was sold at an average price of $9.41, for a total value of $94,100.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.90% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORMP. Point72 Hong Kong Ltd acquired a new position in shares of Oramed Pharmaceuticals in the 4th quarter valued at about $30,000. Royal Bank of Canada lifted its stake in shares of Oramed Pharmaceuticals by 91.7% in the 2nd quarter. Royal Bank of Canada now owns 3,834 shares of the biotechnology company’s stock valued at $51,000 after purchasing an additional 1,834 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of Oramed Pharmaceuticals in the 4th quarter valued at about $57,000. Wells Fargo & Company MN lifted its stake in shares of Oramed Pharmaceuticals by 57.2% in the 2nd quarter. Wells Fargo & Company MN now owns 5,267 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 1,917 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Oramed Pharmaceuticals in the 4th quarter valued at about $110,000. 22.41% of the stock is currently owned by institutional investors and hedge funds.

Oramed Pharmaceuticals Company Profile (Get Rating)

Oramed Pharmaceuticals Inc engages in the research and development of pharmaceutical solutions for the treatment of diabetes and for the use of orally ingestible capsules or pills for delivery of polypeptides. Its proprietary flagship product is the ORMD-0801, an orally ingestible insulin capsule, which completed phase II clinical trials for the treatment of individuals with diabetes.

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