Oramed Pharmaceuticals (NASDAQ:ORMP) Shares Pass Below 200 Day Moving Average - What's Next?

Key Points

• Oramed Pharmaceuticals' share price fell below its 200-day moving average of $2.21, trading as low as $2.17 before closing at $2.20 with a trading volume of 79,254 shares.
• Wall Street analysts downgraded the stock from a "hold" to a "sell" rating, with the average analyst rating currently at "Hold".
• The company reported a loss of ($0.05) EPS for the last quarter, missing the consensus estimate, and is projected to post a loss of ($0.03) EPS for the current year.

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP - Get Free Report) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.21 and traded as low as $2.17. Oramed Pharmaceuticals shares last traded at $2.20, with a volume of 79,254 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Oramed Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold".

Oramed Pharmaceuticals Trading Up 1.4%

The business has a fifty day moving average of $2.14 and a 200 day moving average of $2.20. The company has a market capitalization of $89.38 million, a PE ratio of -6.23 and a beta of 1.69.

Oramed Pharmaceuticals (NASDAQ:ORMP - Get Free Report) last announced its earnings results on Thursday, August 14th. The biotechnology company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). Equities analysts forecast that Oramed Pharmaceuticals Inc. will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Oramed Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BML Capital Management LLC boosted its holdings in Oramed Pharmaceuticals by 2.1% during the 2nd quarter. BML Capital Management LLC now owns 3,083,253 shares of the biotechnology company's stock valued at $6,937,000 after acquiring an additional 62,505 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Oramed Pharmaceuticals by 36.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 18,799 shares of the biotechnology company's stock worth $41,000 after buying an additional 5,000 shares in the last quarter. Jane Street Group LLC grew its position in shares of Oramed Pharmaceuticals by 35.3% during the first quarter. Jane Street Group LLC now owns 67,173 shares of the biotechnology company's stock worth $144,000 after buying an additional 17,510 shares in the last quarter. N.E.W. Advisory Services LLC grew its position in shares of Oramed Pharmaceuticals by 52.9% during the first quarter. N.E.W. Advisory Services LLC now owns 18,900 shares of the biotechnology company's stock worth $40,000 after buying an additional 6,540 shares in the last quarter. Finally, Peapod Lane Capital LLC grew its position in shares of Oramed Pharmaceuticals by 11.0% during the first quarter. Peapod Lane Capital LLC now owns 252,224 shares of the biotechnology company's stock worth $540,000 after buying an additional 24,985 shares in the last quarter. 12.73% of the stock is currently owned by hedge funds and other 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.