Oramed Pharmaceuticals (NASDAQ:ORMP) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.38 and traded as low as $2.34. Oramed Pharmaceuticals shares last traded at $2.35, with a volume of 36,845 shares traded.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. HC Wainwright restated a “neutral” rating on shares of Oramed Pharmaceuticals in a report on Monday, September 9th. StockNews.com upgraded Oramed Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd.

Oramed Pharmaceuticals Price Performance

The firm has a fifty day moving average of $2.39 and a two-hundred day moving average of $2.38. The stock has a market capitalization of $95.81 million, a P/E ratio of 4.61 and a beta of 1.77.

Oramed Pharmaceuticals (NASDAQ:ORMP) last posted its earnings results on Wednesday, August 14th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.21. As a group, sell-side analysts forecast that Oramed Pharmaceuticals Inc. will post 0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Oramed Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BML Capital Management LLC grew its stake in shares of Oramed Pharmaceuticals by 62.1% during the third quarter. BML Capital Management LLC now owns 2,186,191 shares of the biotechnology company’s stock worth $5,334,000 after acquiring an additional 837,153 shares during the last quarter. Murchinson Ltd. grew its stake in shares of Oramed Pharmaceuticals by 23.2% during the second quarter. Murchinson Ltd. now owns 1,699,990 shares of the biotechnology company’s stock worth $4,369,000 after acquiring an additional 320,495 shares during the last quarter. Renaissance Technologies LLC grew 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 worth $593,000 after acquiring an additional 108,700 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Oramed Pharmaceuticals by 52.1% during the second quarter. Dimensional Fund Advisors LP now owns 31,470 shares of the biotechnology company’s stock worth $81,000 after acquiring an additional 10,774 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Oramed Pharmaceuticals during the first quarter worth about $68,000. Hedge funds and other institutional investors own 12.73% of the company’s stock.

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.