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Fly News Breaks for July 16, 2018
ORMP
Jul 16, 2018 | 13:02 EDT
B. Riley FBR analyst Andrew D'Silva downgraded Oramed Pharmaceuticals to Neutral from Buy and cut his price target for the shares to $5 from $20. The analyst says the timing of this month's equity offering lowers his conviction in the shares. Oramed announced on July 6 the closing of a registered direct offering with "several healthcare-focused institutional investors." The company sold $18.1M of its shares of common stock and warrants to purchase shares of common stock at a combined price of $6.25 per share and related warrant.
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