Oramed Pharmaceuticals (NASDAQ:ORMP) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $4.05 and traded as high as $4.14. Oramed Pharmaceuticals shares last traded at $4.13, with a volume of 105,504 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ORMP shares. Wall Street Zen downgraded Oramed Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Weiss Ratings raised shares of Oramed Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. One analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, Oramed Pharmaceuticals has a consensus rating of “Buy”.

Oramed Pharmaceuticals Stock Up 4.0%

The stock has a market cap of $171.81 million, a PE ratio of 1.00 and a beta of 1.31. The stock has a fifty day moving average of $4.41 and a 200-day moving average of $4.05.

Oramed Pharmaceuticals (NASDAQ:ORMP) last posted its quarterly earnings data on Monday, August 10th. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.43 by ($0.52). Equities research analysts forecast that Oramed Pharmaceuticals Inc. will post 1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Avraham Gabay sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $4.51, for a total value of $90,200.00. Following the transaction, the chief financial officer owned 861,076 shares of the company’s stock, valued at approximately $3,883,452.76. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joshua Hexter sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $4.51, for a total value of $135,300.00. Following the completion of the transaction, the chief operating officer directly owned 1,328,130 shares in the company, valued at approximately $5,989,866.30. The trade was a 2.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oramed Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP purchased a new position in Oramed Pharmaceuticals in the 2nd quarter valued at $61,000. OMERS ADMINISTRATION Corp acquired a new position in Oramed Pharmaceuticals in the 1st quarter valued at $63,000. Bank of New York Mellon Corp acquired a new position in Oramed Pharmaceuticals in the 2nd quarter valued at $381,000. Hillsdale Investment Management Inc. acquired a new position in Oramed Pharmaceuticals in the 1st quarter valued at $331,000. Finally, Bank of America Corp DE raised its position in Oramed Pharmaceuticals by 2.7% during the 1st quarter. Bank of America Corp DE now owns 146,152 shares of the biotechnology company’s stock worth $497,000 after buying an additional 3,909 shares during the last quarter. 12.73% of the stock is owned by institutional investors and hedge funds.

Oramed Pharmaceuticals Company Profile

Oramed Pharmaceuticals Inc. (NASDAQ: ORMP) is a biopharmaceutical company focused on developing oral formulations of drugs that are typically administered by injection. The company’s proprietary Protein Oral Delivery (POD™) technology is designed to protect therapeutic proteins from degradation in the digestive system and facilitate their absorption through the gastrointestinal tract. Oramed’s development programs have primarily focused on oral insulin, including its investigational ORMD-0801 product candidate for the treatment of diabetes.