Oramed Pharmaceuticals, Inc. (NASDAQ:ORMP) Expected to Post Quarterly Sales of $650,000.00

Wall Street analysts forecast that Oramed Pharmaceuticals, Inc. (NASDAQ:ORMP) will post $650,000.00 in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Oramed Pharmaceuticals’ earnings, with estimates ranging from $600,000.00 to $700,000.00. Oramed Pharmaceuticals reported sales of $620,000.00 during the same quarter last year, which would suggest a positive year over year growth rate of 4.8%. The firm is expected to issue its next earnings report on Wednesday, November 27th.

On average, analysts expect that Oramed Pharmaceuticals will report full year sales of $2.61 million for the current year, with estimates ranging from $2.50 million to $2.72 million. For the next fiscal year, analysts forecast that the business will report sales of $2.60 million, with estimates ranging from $2.40 million to $2.80 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Oramed Pharmaceuticals.

ORMP has been the topic of a number of recent research reports. ValuEngine raised shares of Oramed Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. HC Wainwright set a $20.00 price target on shares of Oramed Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Oramed Pharmaceuticals in a research report on Wednesday, September 11th. They set a “buy” rating and a $7.00 price target on the stock.

In other Oramed Pharmaceuticals news, Director Leonard Sank purchased 25,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average cost of $2.92 per share, with a total value of $73,000.00. Following the completion of the transaction, the director now owns 364,999 shares in the company, valued at $1,065,797.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.50% of the stock is currently owned by company insiders.

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Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its holdings in Oramed Pharmaceuticals by 50.5% in the 2nd quarter. Renaissance Technologies LLC now owns 158,098 shares of the biotechnology company’s stock valued at $568,000 after buying an additional 53,043 shares during the period. Jane Street Group LLC bought a new position in Oramed Pharmaceuticals in the 2nd quarter valued at about $155,000. Finally, Tower Research Capital LLC TRC increased its holdings in Oramed Pharmaceuticals by 1,137.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 18,491 shares of the biotechnology company’s stock valued at $59,000 after buying an additional 16,997 shares during the period. 4.82% of the stock is currently owned by institutional investors and hedge funds.

ORMP traded down $0.02 during trading hours on Thursday, hitting $3.04. 21,200 shares of the company’s stock were exchanged, compared to its average volume of 51,285. Oramed Pharmaceuticals has a 1-year low of $2.78 and a 1-year high of $4.50. The stock has a market cap of $54.41 million, a price-to-earnings ratio of -3.53 and a beta of 1.24. The stock’s 50-day moving average is $3.15 and its two-hundred day moving average is $3.32.

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 for the treatment of diabetes; and ORMD-0901, an oral glucagon-like peptide-1 analog capsule for the treatment of type 2 diabetes.

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Earnings History and Estimates for Oramed Pharmaceuticals (NASDAQ:ORMP)

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