Oramed Pharmaceuticals (NASDAQ:ORMP) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Oramed Pharmaceuticals (NASDAQ:ORMP) from a sell rating to a hold rating in a report released on Monday morning.

Oramed Pharmaceuticals Price Performance

NASDAQ:ORMP opened at $2.34 on Monday. The company has a market capitalization of $94.33 million, a price-to-earnings ratio of 21.27 and a beta of 1.67. Oramed Pharmaceuticals has a 1-year low of $2.00 and a 1-year high of $3.67. The business has a 50 day moving average of $2.38 and a 200 day moving average of $2.41.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Murchinson Ltd. raised its holdings in Oramed Pharmaceuticals by 23.2% during the 2nd quarter. Murchinson Ltd. now owns 1,699,990 shares of the biotechnology company’s stock valued at $4,369,000 after buying an additional 320,495 shares during the last quarter. BML Capital Management LLC boosted its position in Oramed Pharmaceuticals by 62.1% during the 3rd quarter. BML Capital Management LLC now owns 2,186,191 shares of the biotechnology company’s stock valued at $5,334,000 after acquiring an additional 837,153 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Oramed Pharmaceuticals in the third quarter worth $272,000. Dimensional Fund Advisors LP grew its position in shares of Oramed Pharmaceuticals by 52.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 31,470 shares of the biotechnology company’s stock worth $81,000 after buying an additional 10,774 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Oramed Pharmaceuticals during the second quarter valued at approximately $40,000. 12.73% of the stock is owned by institutional investors.

About Oramed Pharmaceuticals

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.