Oramed Pharmaceuticals (NASDAQ:ORMP) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Oramed Pharmaceuticals (NASDAQ:ORMP) from a sell rating to a hold rating in a research report sent to investors on Monday.

Oramed Pharmaceuticals Trading Down 1.3 %

ORMP opened at $2.36 on Monday. Oramed Pharmaceuticals has a 1-year low of $2.00 and a 1-year high of $3.67. The company has a market cap of $95.14 million, a price-to-earnings ratio of 21.45 and a beta of 1.67. The company’s fifty day moving average price is $2.38 and its two-hundred day moving average price is $2.41.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ORMP. XTX Topco Ltd purchased a new stake in Oramed Pharmaceuticals in the 2nd quarter valued at $40,000. Dimensional Fund Advisors LP raised its holdings 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 valued at $81,000 after purchasing an additional 10,774 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Oramed Pharmaceuticals in the third quarter valued at about $272,000. Renaissance Technologies LLC lifted its position 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 purchasing an additional 108,700 shares in the last quarter. Finally, Murchinson Ltd. boosted its holdings in Oramed Pharmaceuticals by 0.5% during the third quarter. Murchinson Ltd. now owns 1,708,879 shares of the biotechnology company’s stock worth $4,170,000 after purchasing an additional 8,889 shares during the last quarter. Hedge funds and other institutional investors own 12.73% of the company’s stock.

About Oramed Pharmaceuticals

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.