Aegis sees further upside for Oramed after big run

|About: Oramed Pharmaceuticals Inc. (ORMP)|By:, SA News Editor

Aegis figures now is a good time to hike the price target on Oramed Pharmaceuticals (ORMP +20.1%) to $30 from $25 as "positive proof-of-concept data has been generated in animals for both ORMD-0801 [and] ORMD-0901."

Here's analyst Ram Selvaraju, commenting: "Positive Phase 2b data [in ORMD-0801] could set the scene for a transformative licensing transaction or an acquisition by an established diabetes focused firm like AstraZeneca (AZN), Novartis (NVS), Novo Nordisk (NVO), or Sanofi (SNY)."

The shares are up 222% since the company reported successful results with its oral insulin capsule last month.