Oramed Pharmaceuticals (NASDAQ:ORMP) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Oramed shares moved above their 200-day moving average of $4.05, reaching $4.14 and last trading at $4.13 on volume of 105,504 shares.
• Analyst views were mixed: Wall Street Zen downgraded the stock to Hold, while Weiss Ratings upgraded it to Buy; MarketBeat reported an average Buy rating.
• The company reported a quarterly loss of $0.09 per share, missing the $0.43 consensus estimate. Its CFO and COO also each sold shares under pre-arranged Rule 10b5-1 plans.

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $4.05 and traded as high as $4.14. Oramed Pharmaceuticals shares last traded at $4.13, with a volume of 105,504 shares traded.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ORMP. Wall Street Zen cut Oramed Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, November 7th. Weiss Ratings upgraded Oramed Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, October 23rd. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has an average rating of "Buy".

Oramed Pharmaceuticals Price Performance

The company's 50 day simple moving average is $4.41 and its 200 day simple moving average is $4.05. The company has a market capitalization of $171.81 million, a PE ratio of 1.00 and a beta of 1.31.

Oramed Pharmaceuticals (NASDAQ:ORMP - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.52). On average, equities analysts forecast that Oramed Pharmaceuticals Inc. will post 1.47 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Avraham Gabay sold 20,000 shares of Oramed Pharmaceuticals stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $4.51, for a total transaction of $90,200.00. Following the sale, the chief financial officer directly owned 861,076 shares in the company, valued at $3,883,452.76. This trade represents a 2.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joshua Hexter sold 30,000 shares of Oramed Pharmaceuticals stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $4.51, for a total transaction of $135,300.00. Following the sale, the chief operating officer owned 1,328,130 shares in the company, valued at $5,989,866.30. This represents a 2.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 20.77% of the company's stock.

Hedge Funds Weigh In On Oramed Pharmaceuticals

Several hedge funds have recently made changes to their positions in ORMP. Hillsdale Investment Management Inc. acquired a new stake in shares of Oramed Pharmaceuticals during the first quarter worth about $331,000. Bank of New York Mellon Corp purchased a new stake in shares of Oramed Pharmaceuticals in the 2nd quarter valued at about $381,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Oramed Pharmaceuticals in the 1st quarter valued at about $63,000. BML Capital Management LLC boosted its position in shares of Oramed Pharmaceuticals by 2.1% in the 3rd quarter. BML Capital Management LLC now owns 884,392 shares of the biotechnology company's stock valued at $4,130,000 after purchasing an additional 18,123 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in shares of Oramed Pharmaceuticals in the 2nd quarter valued at about $61,000. Hedge funds and other institutional investors own 12.73% of the company's stock.

Oramed Pharmaceuticals Company Profile

Oramed Pharmaceuticals Inc. NASDAQ: ORMP is a biopharmaceutical company focused on developing oral formulations of drugs that are typically administered by injection. The company's proprietary Protein Oral Delivery (POD™) technology is designed to protect therapeutic proteins from degradation in the digestive system and facilitate their absorption through the gastrointestinal tract. Oramed's development programs have primarily focused on oral insulin, including its investigational ORMD-0801 product candidate for the treatment of diabetes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.