Zacks: Brokerages Anticipate Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) Will Post Quarterly Sales of $700,000.00

Brokerages expect Oramed Pharmaceuticals Inc. (NASDAQ:ORMPGet Rating) to announce $700,000.00 in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Oramed Pharmaceuticals’ earnings. Oramed Pharmaceuticals reported sales of $680,000.00 in the same quarter last year, which indicates a positive year over year growth rate of 2.9%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Oramed Pharmaceuticals will report full-year sales of $2.80 million for the current fiscal year. For the next financial year, analysts anticipate that the company will post sales of $3.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Oramed Pharmaceuticals.

Several brokerages have recently weighed in on ORMP. StockNews.com upgraded shares of Oramed Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, May 26th. Cantor Fitzgerald began coverage on shares of Oramed Pharmaceuticals in a report on Friday, February 18th. They set an “overweight” rating and a $20.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Oramed Pharmaceuticals in a report on Thursday, March 17th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $31.40.

In other news, Director Kevin Rakin sold 10,000 shares of the business’s stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $9.41, for a total transaction of $94,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of ORMP. Invesco Ltd. grew its position in Oramed Pharmaceuticals by 6,478.4% in the 3rd quarter. Invesco Ltd. now owns 755,195 shares of the biotechnology company’s stock worth $16,599,000 after purchasing an additional 743,715 shares in the last quarter. Millennium Management LLC grew its position in Oramed Pharmaceuticals by 1,000.8% in the 4th quarter. Millennium Management LLC now owns 761,570 shares of the biotechnology company’s stock worth $10,875,000 after purchasing an additional 692,384 shares in the last quarter. Altium Capital Management LP bought a new stake in Oramed Pharmaceuticals in the 3rd quarter worth about $12,626,000. Moors & Cabot Inc. bought a new stake in Oramed Pharmaceuticals in the 3rd quarter worth about $443,000. Finally, Assenagon Asset Management S.A. bought a new stake in Oramed Pharmaceuticals in the 1st quarter worth about $3,334,000. 22.41% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ ORMP opened at $4.95 on Wednesday. The firm’s 50-day moving average price is $5.81 and its 200-day moving average price is $9.97. Oramed Pharmaceuticals has a 1-year low of $3.74 and a 1-year high of $31.54. The firm has a market capitalization of $190.89 million, a P/E ratio of -6.43 and a beta of 2.03.

Oramed Pharmaceuticals Company Profile (Get Rating)

Oramed Pharmaceuticals Inc engages in the research and development of pharmaceutical solutions for the treatment of diabetes and for the use of orally ingestible capsules or pills for delivery of polypeptides. Its proprietary flagship product is the ORMD-0801, an orally ingestible insulin capsule, which completed phase II clinical trials for the treatment of individuals with diabetes.

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