BlackRock Inc. Acquires New Position in Oramed Pharmaceuticals, Inc. (ORMP)
BlackRock Inc. acquired a new position in Oramed Pharmaceuticals, Inc. (NASDAQ:ORMP) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 28,041 shares of the biotechnology company’s stock, valued at approximately $209,000. BlackRock Inc. owned approximately 0.16% of Oramed Pharmaceuticals at the end of the most recent reporting period.
A number of brokerages have recently issued reports on ORMP. ValuEngine cut shares of Oramed Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. HC Wainwright set a $25.00 price objective on shares of Oramed Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, October 9th.
ORMP opened at $4.13 on Tuesday. The firm has a market cap of $70.49 million, a P/E ratio of -5.23 and a beta of 0.59. Oramed Pharmaceuticals, Inc. has a fifty-two week low of $3.91 and a fifty-two week high of $9.74.
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Oramed Pharmaceuticals Inc engages in the research and development of pharmaceutical solutions for the use of orally ingestible capsules or pills for delivery of polypeptides. Its product portfolio includes ORMD-0801, an oral insulin capsule, which has completed Phase IIb clinical trials for the treatment of diabetes; and ORMD-0901, an analog for GLP-1 gastrointestinal hormone, which has completed Phase Ib clinical trials for the treatment of type 2 diabetes.
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