Oramed Pharmaceuticals, Inc. (NASDAQ:ORMP) shares fell 11.7% on Wednesday . The company traded as low as $4.88 and last traded at $4.46, 421,719 shares were traded during mid-day trading. An increase of 165% from the average session volume of 159,223 shares. The stock had previously closed at $5.05.
ORMP has been the topic of a number of research analyst reports. HC Wainwright set a $20.00 price target on shares of Oramed Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, September 18th. ValuEngine cut Oramed Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, LADENBURG THALM/SH SH started coverage on shares of Oramed Pharmaceuticals in a research report on Wednesday, September 11th. They issued a “buy” rating and a $7.00 price target on the stock.
The stock has a fifty day simple moving average of $3.17 and a two-hundred day simple moving average of $3.27. The stock has a market capitalization of $76.73 million, a price-to-earnings ratio of 5.48 and a beta of 1.41.
Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in Oramed Pharmaceuticals by 50.5% in the second quarter. Renaissance Technologies LLC now owns 158,098 shares of the biotechnology company’s stock valued at $568,000 after acquiring an additional 53,043 shares during the last quarter. Jane Street Group LLC purchased a new stake in Oramed Pharmaceuticals during the second quarter valued at about $155,000. Tower Research Capital LLC TRC lifted its stake in Oramed Pharmaceuticals by 1,137.7% during the third quarter. Tower Research Capital LLC TRC now owns 18,491 shares of the biotechnology company’s stock worth $59,000 after purchasing an additional 16,997 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in Oramed Pharmaceuticals during the third quarter worth about $50,000. Institutional investors own 4.38% of the company’s stock.
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.
Further Reading: Producer Price Index (PPI)
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