Oramed Pharmaceuticals (NASDAQ:ORMP) Stock Rating Upgraded by StockNews.com

Oramed Pharmaceuticals (NASDAQ:ORMP) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Separately, HC Wainwright reaffirmed a “neutral” rating on shares of Oramed Pharmaceuticals in a research note on Monday, September 9th.

Oramed Pharmaceuticals Stock Down 3.6 %

Shares of ORMP traded down $0.09 during trading hours on Wednesday, hitting $2.42. The company had a trading volume of 102,666 shares, compared to its average volume of 141,486. Oramed Pharmaceuticals has a 52-week low of $1.67 and a 52-week high of $3.67. The stock’s 50 day moving average price is $2.43 and its 200 day moving average price is $2.48. The firm has a market cap of $98.32 million, a P/E ratio of 9.31 and a beta of 1.77.

Oramed Pharmaceuticals (NASDAQ:ORMP) last announced its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.21. On average, research analysts expect that Oramed Pharmaceuticals will post 0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Oramed Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Oramed Pharmaceuticals by 52.1% in the second quarter. Dimensional Fund Advisors LP now owns 31,470 shares of the biotechnology company’s stock worth $81,000 after purchasing an additional 10,774 shares during the last quarter. XTX Topco Ltd bought a new position in Oramed Pharmaceuticals during the 2nd quarter valued at approximately $40,000. Assenagon Asset Management S.A. purchased a new stake in Oramed Pharmaceuticals in the 1st quarter worth approximately $54,000. Virtu Financial LLC bought a new stake in shares of Oramed Pharmaceuticals in the 1st quarter worth approximately $68,000. Finally, Renaissance Technologies LLC increased its stake in shares of Oramed Pharmaceuticals by 89.0% during the second quarter. Renaissance Technologies LLC now owns 230,800 shares of the biotechnology company’s stock valued at $593,000 after buying an additional 108,700 shares during the period. 12.73% of the stock is owned by institutional investors.

Oramed Pharmaceuticals Company Profile

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 for delivery of polypeptides. The company's product portfolio includes ORMD-0801, an oral insulin capsule, which is in phase III clinical trial for the treatment of individuals with diabetes, as well as in phase II clinical trial for the treatment of non-alcoholic steatohepatitis; and ORA-D-013-1 and ORA-D-013-2, which have completed phase II clinical trial for the treatment of type 2 diabetes.