HC Wainwright Reiterates Buy Rating for Oramed Pharmaceuticals Inc. (ORMP)
Oramed Pharmaceuticals Inc. (NASDAQ:ORMP)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued to clients and investors on Thursday. They presently have a $25.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 149.50% from the company’s previous close.
Separately, ValuEngine upgraded shares of Oramed Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th.
Oramed Pharmaceuticals (NASDAQ:ORMP) traded up 7.88% during midday trading on Thursday, reaching $10.81. 81,804 shares of the company traded hands. Oramed Pharmaceuticals has a 12 month low of $5.70 and a 12 month high of $11.19. The company’s 50-day moving average price is $9.13 and its 200 day moving average price is $7.97. The firm’s market capitalization is $143.99 million.
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In other news, Director Xiaopeng Li bought 89,636 shares of Oramed Pharmaceuticals stock in a transaction on Wednesday, August 2nd. The shares were bought at an average cost of $8.50 per share, for a total transaction of $761,906.00. Following the acquisition, the director now owns 206,350 shares in the company, valued at $1,753,975. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 27.50% of the stock is currently owned by corporate insiders.
An institutional investor recently raised its position in Oramed Pharmaceuticals stock. Wells Fargo & Company MN raised its position in Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,725 shares of the biotechnology company’s stock after purchasing an additional 625 shares during the period. Wells Fargo & Company MN owned about 0.11% of Oramed Pharmaceuticals worth $114,000 at the end of the most recent reporting period. 1.34% of the stock is owned by institutional investors.
Oramed Pharmaceuticals Company Profile
Oramed Pharmaceuticals Inc (Oramed) is engaged in the field of oral delivery solutions for drugs and vaccines presently delivered via injection. Oramed’s flagship product, an orally ingestible insulin capsule in phase II clinical trials, is focused on the treatment of diabetes. The Company is developing orally ingestible protein oral delivery (POD) technology for the delivery of drugs presently administered by way of injection.
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