StockNews.com Begins Coverage on Oramed Pharmaceuticals (NASDAQ:ORMP)

StockNews.com began coverage on shares of Oramed Pharmaceuticals (NASDAQ:ORMP – Get Rating) in a research note published on Thursday. The firm issued a hold rating on the biotechnology company’s stock.

Several other research firms have also recently weighed in on ORMP. Canaccord Genuity Group cut shares of Oramed Pharmaceuticals from a buy rating to a hold rating and decreased their target price for the company from $30.00 to $3.00 in a research note on Thursday, January 12th. Alliance Global Partners lowered their price objective on shares of Oramed Pharmaceuticals to $35.00 in a research note on Wednesday, November 16th. Cantor Fitzgerald cut shares of Oramed Pharmaceuticals from an overweight rating to a neutral rating in a report on Friday, January 13th. Finally, HC Wainwright cut Oramed Pharmaceuticals from a buy rating to a neutral rating in a report on Tuesday, January 17th.

Oramed Pharmaceuticals Price Performance

Shares of NASDAQ ORMP opened at $2.23 on Thursday. Oramed Pharmaceuticals has a 52 week low of $1.81 and a 52 week high of $13.73. The stock has a 50 day moving average price of $2.60 and a 200 day moving average price of $6.13.

Insider Buying and Selling at Oramed Pharmaceuticals

In other news, insider Michael Rabinowitz sold 13,325 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $12.55, for a total transaction of $167,228.75. Following the completion of the sale, the insider now owns 126,143 shares in the company, valued at approximately $1,583,094.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Nadav Kidron acquired 100,000 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were purchased at an average cost of $2.01 per share, with a total value of $201,000.00. Following the acquisition, the chief executive officer now directly owns 100,000 shares in the company, valued at approximately $201,000. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Rabinowitz sold 13,325 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $12.55, for a total value of $167,228.75. Following the transaction, the insider now owns 126,143 shares in the company, valued at approximately $1,583,094.65. The disclosure for this sale can be found here. Insiders have purchased a total of 146,000 shares of company stock worth $293,240 over the last ninety days. Insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Oramed Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ORMP. BlackRock Inc. boosted its holdings in Oramed Pharmaceuticals by 17.4% in the 1st quarter. BlackRock Inc. now owns 1,830,166 shares of the biotechnology company’s stock valued at $15,832,000 after purchasing an additional 271,559 shares during the period. Millennium Management LLC boosted its stake in shares of Oramed Pharmaceuticals by 59.6% in the second quarter. Millennium Management LLC now owns 580,383 shares of the biotechnology company’s stock valued at $2,658,000 after buying an additional 216,823 shares during the period. State Street Corp grew its position in Oramed Pharmaceuticals by 5.0% during the first quarter. State Street Corp now owns 537,670 shares of the biotechnology company’s stock worth $4,651,000 after buying an additional 25,424 shares in the last quarter. JPMorgan Chase & Co. grew its position in Oramed Pharmaceuticals by 42.2% during the fourth quarter. JPMorgan Chase & Co. now owns 404,617 shares of the biotechnology company’s stock worth $4,868,000 after buying an additional 120,014 shares in the last quarter. Finally, Lindbrook Capital LLC bought a new position in Oramed Pharmaceuticals during the 4th quarter worth $4,612,000. 10.08% of the stock is currently owned by institutional investors and hedge funds.

About Oramed Pharmaceuticals

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Oramed Pharmaceuticals, Inc engages in the provision of oral delivery solutions for drugs delivered via injection. It focuses on the research and development of pharmaceutical solutions, including an oral insulin capsule to be used for the treatment of individuals with diabetes, and the use of orally ingestible capsules or pills for delivery of other polypeptides.