Wall Street analysts expect that Oramed Pharmaceuticals, Inc. (NASDAQ:ORMP) will announce $720,000.00 in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Oramed Pharmaceuticals’ earnings. The highest sales estimate is $850,000.00 and the lowest is $600,000.00. Oramed Pharmaceuticals reported sales of $600,000.00 in the same quarter last year, which would suggest a positive year-over-year growth rate of 20%. The firm is scheduled to report its next quarterly earnings report on Monday, April 15th.
On average, analysts expect that Oramed Pharmaceuticals will report full-year sales of $2.94 million for the current fiscal year, with estimates ranging from $2.50 million to $3.56 million. For the next financial year, analysts forecast that the business will post 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 sell-side analysts that follow Oramed Pharmaceuticals.
Separately, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Oramed Pharmaceuticals in a report on Monday.
A hedge fund recently raised its stake in Oramed Pharmaceuticals stock. BlackRock Inc. increased its stake in Oramed Pharmaceuticals, Inc. (NASDAQ:ORMP) by 137.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,343 shares of the biotechnology company’s stock after purchasing an additional 40,114 shares during the quarter. BlackRock Inc. owned about 0.40% of Oramed Pharmaceuticals worth $208,000 at the end of the most recent quarter. 10.50% 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 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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