Analysts at Aegis started coverage on shares of Oramed Pharmaceuticals (NASDAQ:ORMP) in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $25.00 price target on the stock. Aegis’ target price suggests a potential upside of 211.33% from the company’s current price.
The analysts wrote, “We are initiating coverage of Oramed Pharmaceuticals, Inc., with a Buy rating and a 12-month price target of $25.00 per share. Oramed is an emerging biopharmaceuticals firm in the diabetes sector, and has developed two proprietary drug candidates, both of which are risk-mitigated from a mechanistic perspective, in our view. Oramed’s lead candidate, ORMD-0801, is an orally-ingestible capsule formulation of human insulin. The second candidate, ORMD-0901, is an orally-bioavailable formulation of exenatide, currently sold under the trade name Byetta by AstraZeneca (AZN/NYSE, Not Rated) and Bristol-Myers Squibb (BMY/ NYSE, Not Rated). In our view, Oramed represents an attractively valued entity in the diabetes sector and possesses the added advantage of 505(b)(2) pathway eligibility for both of its lead drug candidates. The firm also has a proprietary technology platform for enhancing the oral bioavailability of peptide- and protein-based drugs.”
Shares of Oramed Pharmaceuticals (NASDAQ:ORMP) opened at 8.03 on Tuesday. Oramed Pharmaceuticals has a 52 week low of $3.60 and a 52 week high of $10.68. The stock has a 50-day moving average of $7.05 and a 200-day moving average of $7.27. The company’s market cap is $63.4 million.
Oramed Pharmaceuticals Inc is a development-stage pharmaceutical company. The Company is engaged in the research and development of pharmaceutical solutions, including an orally ingestible insulin capsule or tablet to be used for the treatment of individuals with diabetes, use of orally ingestible capsules, tablets or pills for delivery of other polypeptides.
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