Wall Street analysts expect that Oramed Pharmaceuticals, Inc. (NASDAQ:ORMP) will post $610,000.00 in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Oramed Pharmaceuticals’ earnings, with estimates ranging from $600,000.00 to $620,000.00. Oramed Pharmaceuticals reported sales of $4.29 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 85.8%. The business is scheduled to issue its next earnings results on Wednesday, December 5th.
On average, analysts expect that Oramed Pharmaceuticals will report full-year sales of $2.44 million for the current year, with estimates ranging from $2.43 million to $2.45 million. For the next financial year, analysts expect that the business will post sales of $3.92 million, with estimates ranging from $2.50 million to $6.47 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Oramed Pharmaceuticals.
ORMP has been the subject of a number of analyst reports. HC Wainwright set a $25.00 price objective on Oramed Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, October 9th. ValuEngine lowered Oramed Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Finally, B. Riley lowered Oramed Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Monday, July 16th.
A hedge fund recently bought a new stake in Oramed Pharmaceuticals stock. BlackRock Inc. acquired a new position in Oramed Pharmaceuticals, Inc. (NASDAQ:ORMP) in the second quarter, according to the company in its most recent 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 quarter. 1.52% of the stock is owned by institutional investors and hedge funds.
About Oramed Pharmaceuticals
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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