Oramed (ORMP) Stock Surges to 4 Month High

Oramed Pharmaceuticals Inc. (ORMP) is trading at unusually high volume Tuesday with 671K shares changing hands. It is currently at 12x its average daily volume and trading up $2.49, or 53.66%, at $7.13 as of 10:12 a.m. ET. Not seeing any news or rumors to account for the move.

During today’s trading session, ORMP opened sharply higher with the name hitting a 4 month high. It’s hard to pinpoint just what exactly is driving the surge in stock price and whether or not this spike shows commitment. That said, on an intraday basis ticker has gotten as low as $4.73 and as high as $7.94. A move through $8.00 could lead to additional upside momo.

Oramed Pharmaceuticals is an Israeli-based pharmaceutical company. Its stock has a 52-week trading range of $3.71 to $14.80. The T-12 return on assets at Oramed is (25.49%). The name‘s net income-to-common shares for the same period is ($6.47) million. The T12 diluted EPS at ORMP is ($0.66). Oramed Pharmaceuticals’s price/book is 2.12.

Shares in the $73 million company are down 31.86% year-over-year ; up 54% year-to-date.

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