Oramed Pharmaceuticals (NASDAQ:ORMP) Stock Crosses Below Two Hundred Day Moving Average of $3.38

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Oramed Pharmaceuticals, Inc. (NASDAQ:ORMP)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.38 and traded as low as $2.40. Oramed Pharmaceuticals shares last traded at $2.54, with a volume of 296,186 shares traded.

Several brokerages have recently commented on ORMP. ValuEngine cut Oramed Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, June 11th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 target price (up previously from $16.00) on shares of Oramed Pharmaceuticals in a research report on Monday, July 13th.

The stock has a market cap of $60.70 million, a price-to-earnings ratio of -7.82 and a beta of 1.49. The business has a 50-day moving average of $3.22 and a 200-day moving average of $3.38.

Oramed Pharmaceuticals (NASDAQ:ORMP) last released its quarterly earnings data on Tuesday, July 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. The firm had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $0.69 million. Oramed Pharmaceuticals had a negative return on equity of 28.75% and a negative net margin of 230.07%. As a group, equities analysts expect that Oramed Pharmaceuticals, Inc. will post -0.58 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORMP. Jane Street Group LLC acquired a new stake in Oramed Pharmaceuticals during the second quarter worth about $73,000. Virtu Financial LLC acquired a new stake in Oramed Pharmaceuticals during the second quarter worth about $91,000. Finally, Phoenix Holdings Ltd. acquired a new stake in Oramed Pharmaceuticals during the second quarter worth about $610,000. 3.99% of the stock is owned by hedge funds and other institutional investors.

About Oramed Pharmaceuticals (NASDAQ:ORMP)

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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