Oramed Pharmaceuticals (NASDAQ:ORMP) Stock Price Passes Above Fifty Day Moving Average - Time to Sell?

Key Points

• Oramed Pharmaceuticals' stock price recently surpassed its 50-day moving average of $2.30, trading at $2.29 with a volume of 74,573 shares.
• Analysts from Weiss Ratings reaffirmed a "sell" rating for the stock, aligning with an overall average rating of "Sell" among analysts.
• The company's market capitalization stands at $93.89 million, and they reported a loss of $0.05 earnings per share, missing expectations by $0.01.

Shares of Oramed Pharmaceuticals Inc. (NASDAQ:ORMP - Get Free Report) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $2.30 and traded as high as $2.31. Oramed Pharmaceuticals shares last traded at $2.29, with a volume of 74,573 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Oramed Pharmaceuticals in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of "Sell".

Oramed Pharmaceuticals Trading Up 2.7%

The firm has a market capitalization of $93.89 million, a PE ratio of -6.54 and a beta of 1.62. The business's 50 day simple moving average is $2.30 and its two-hundred day simple moving average is $2.22.

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

Institutional Investors Weigh In On Oramed Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its stake in Oramed Pharmaceuticals by 36.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 18,799 shares of the biotechnology company's stock valued at $41,000 after buying an additional 5,000 shares during the last quarter. N.E.W. Advisory Services LLC increased its stake in shares of Oramed Pharmaceuticals by 52.9% in the 1st quarter. N.E.W. Advisory Services LLC now owns 18,900 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 6,540 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Oramed Pharmaceuticals by 35.3% in the 1st quarter. Jane Street Group LLC now owns 67,173 shares of the biotechnology company's stock worth $144,000 after purchasing an additional 17,510 shares in the last quarter. Peapod Lane Capital LLC increased its stake in shares of Oramed Pharmaceuticals by 11.0% in the 1st quarter. Peapod Lane Capital LLC now owns 252,224 shares of the biotechnology company's stock worth $540,000 after purchasing an additional 24,985 shares in the last quarter. Finally, BML Capital Management LLC increased its stake in shares of Oramed Pharmaceuticals by 2.1% in the 2nd quarter. BML Capital Management LLC now owns 3,083,253 shares of the biotechnology company's stock worth $6,937,000 after purchasing an additional 62,505 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.