Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) Director Kevin Rakin Sells 21,100 Shares

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) Director Kevin Rakin sold 21,100 shares of the business’s stock in a transaction dated Thursday, September 16th. The stock was sold at an average price of $20.99, for a total transaction of $442,889.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

NASDAQ ORMP opened at $19.17 on Tuesday. The stock’s 50-day moving average price is $16.91 and its two-hundred day moving average price is $13.16. The company has a market cap of $623.29 million, a PE ratio of -27.78 and a beta of 1.95. Oramed Pharmaceuticals Inc. has a 1 year low of $2.40 and a 1 year high of $23.57.

Oramed Pharmaceuticals (NASDAQ:ORMP) last released its earnings results on Tuesday, July 13th. The biotechnology company reported ($0.17) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.03. Oramed Pharmaceuticals had a negative return on equity of 40.91% and a negative net margin of 680.53%. The company had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $0.70 million. On average, research analysts forecast that Oramed Pharmaceuticals Inc. will post -0.74 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Oramed Pharmaceuticals by 1,516.0% during the 2nd quarter. BlackRock Inc. now owns 1,269,530 shares of the biotechnology company’s stock valued at $16,986,000 after acquiring an additional 1,190,970 shares in the last quarter. State Street Corp purchased a new position in Oramed Pharmaceuticals during the 2nd quarter valued at about $4,709,000. Geode Capital Management LLC grew its stake in Oramed Pharmaceuticals by 1,183.9% during the 2nd quarter. Geode Capital Management LLC now owns 217,708 shares of the biotechnology company’s stock valued at $2,912,000 after acquiring an additional 200,751 shares in the last quarter. Northern Trust Corp purchased a new position in Oramed Pharmaceuticals during the 2nd quarter valued at about $2,824,000. Finally, Millennium Management LLC grew its stake in Oramed Pharmaceuticals by 28.9% during the 2nd quarter. Millennium Management LLC now owns 201,220 shares of the biotechnology company’s stock valued at $2,692,000 after acquiring an additional 45,098 shares in the last quarter. 10.83% of the stock is currently owned by institutional investors.

ORMP has been the topic of several recent analyst reports. Aegis boosted their price objective on Oramed Pharmaceuticals from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 8th. Canaccord Genuity boosted their price objective on Oramed Pharmaceuticals from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, July 29th.

About Oramed Pharmaceuticals

Oramed Pharmaceuticals, Inc engages in the provision of oral delivery solutions for drugs delivered via injection. It focuses in the research and development of pharmaceutical solutions, including an oral insulin capsule to be used for the treatment of individuals with diabetes, and the use of orally ingestible capsules or pills for delivery of other polypeptides.

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