Oramed Pharmaceuticals (NASDAQ:ORMP) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Oramed Pharmaceuticals (NASDAQ:ORMP) from a hold rating to a buy rating in a report published on Thursday, ValuEngine reports.

Separately, HC Wainwright restated a buy rating on shares of Oramed Pharmaceuticals in a report on Wednesday, June 19th.

Shares of NASDAQ ORMP traded down $0.10 during mid-day trading on Thursday, reaching $3.47. The company had a trading volume of 505 shares, compared to its average volume of 33,610. The business has a fifty day simple moving average of $3.54. The stock has a market capitalization of $60.83 million, a P/E ratio of -4.05 and a beta of 1.34. Oramed Pharmaceuticals has a 12-month low of $2.78 and a 12-month high of $5.36.

Oramed Pharmaceuticals (NASDAQ:ORMP) last released its quarterly earnings data on Wednesday, July 10th. The biotechnology company reported ($0.23) EPS for the quarter, hitting analysts’ consensus estimates of ($0.23). Oramed Pharmaceuticals had a negative return on equity of 56.15% and a negative net margin of 568.43%. The firm had revenue of $0.68 million for the quarter, compared to the consensus estimate of $0.71 million. On average, sell-side analysts predict that Oramed Pharmaceuticals will post -0.98 earnings per share for the current year.

In other news, Director Leonard Sank acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were purchased at an average price of $3.47 per share, for a total transaction of $69,400.00. Following the completion of the acquisition, the director now owns 315,482 shares of the company’s stock, valued at approximately $1,094,722.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 25,817 shares of company stock worth $91,009 in the last 90 days. 27.70% of the stock is currently owned by corporate insiders.

A hedge fund recently raised its stake in Oramed Pharmaceuticals stock. BlackRock Inc. raised its stake in shares of Oramed Pharmaceuticals, Inc. (NASDAQ:ORMP) by 137.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,343 shares of the biotechnology company’s stock after purchasing an additional 40,114 shares during the period. BlackRock Inc. owned 0.40% of Oramed Pharmaceuticals worth $208,000 as of its most recent SEC filing. 6.18% of the stock is currently owned by hedge funds and other institutional investors.

About Oramed Pharmaceuticals

Oramed Pharmaceuticals Inc engages in the research and development of pharmaceutical solutions for the use of orally ingestible capsules or pills for delivery of polypeptides. Its product portfolio includes ORMD-0801, an oral insulin capsule for the treatment of diabetes; and ORMD-0901, an oral glucagon-like peptide-1 analog capsule for the treatment of type 2 diabetes.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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