Omeros Corporation (NASDAQ:OMER) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Omeros Corporation is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation and disorders of the central nervous system. Omeros’ most clinically advanced product candidates are derived from its proprietary PharmacoSurgery(TM) platform designed to improve clinical outcomes of patients undergoing arthroscopic, ophthalmological, urological and other surgical and medical procedures. Omeros has four ongoing PharmacoSurgery(TM) clinical development programs, and its lead product candidate, OMS103HP, is being evaluated in Phase 3 clinical trials for use during arthroscopic surgery to improve postoperative joint function and reduce postoperative pain. Omeros is also building a diverse pipeline of preclinical programs targeting inflammation and central nervous system disorders. “

Several other research firms also recently weighed in on OMER. Maxim Group reiterated a “buy” rating and set a $30.00 price target on shares of Omeros Corporation in a research note on Thursday, July 28th. FBR & Co reiterated an “outperform” rating and set a $38.00 price target on shares of Omeros Corporation in a research note on Wednesday, June 29th. Cantor Fitzgerald reiterated a “buy” rating and set a $21.00 price target on shares of Omeros Corporation in a research note on Wednesday, August 10th. Wedbush reiterated an “outperform” rating and set a $56.00 price target (down previously from $62.00) on shares of Omeros Corporation in a research note on Thursday, August 11th. Finally, WBB Securities reiterated a “buy” rating and set a $75.00 price target on shares of Omeros Corporation in a research note on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $35.86.

Analyst Recommendations for Omeros Corporation (NASDAQ:OMER)

Shares of Omeros Corporation (NASDAQ:OMER) opened at 8.61 on Wednesday. Omeros Corporation has a 12 month low of $8.55 and a 12 month high of $16.80. The stock has a 50 day moving average of $10.88 and a 200-day moving average of $11.84. The company’s market cap is $338.31 million.

Omeros Corporation (NASDAQ:OMER) last posted its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.18. The firm had revenue of $10 million for the quarter, compared to analysts’ expectations of $9.80 million. The firm’s revenue for the quarter was up 212.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.44) EPS. On average, analysts forecast that Omeros Corporation will post ($1.55) EPS for the current year.

In other news, VP Marcia S. Kelbon sold 16,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $10.91, for a total value of $174,560.00. Following the sale, the vice president now owns 179,597 shares in the company, valued at $1,959,403.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Marcia S. Kelbon sold 15,900 shares of the company’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $11.50, for a total value of $182,850.00. Following the completion of the sale, the vice president now owns 179,497 shares in the company, valued at approximately $2,064,215.50. The disclosure for this sale can be found here. 13.60% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. BlackRock Advisors LLC boosted its position in Omeros Corporation by 1.0% in the second quarter. BlackRock Advisors LLC now owns 17,415 shares of the biopharmaceutical company’s stock worth $183,000 after buying an additional 173 shares during the last quarter. Vanguard Group Inc. boosted its position in Omeros Corporation by 2.3% in the second quarter. Vanguard Group Inc. now owns 1,430,125 shares of the biopharmaceutical company’s stock worth $15,045,000 after buying an additional 32,401 shares during the last quarter. Brown Advisory Inc. boosted its position in Omeros Corporation by 4.0% in the second quarter. Brown Advisory Inc. now owns 543,763 shares of the biopharmaceutical company’s stock worth $5,721,000 after buying an additional 21,133 shares during the last quarter. Nationwide Fund Advisors boosted its position in Omeros Corporation by 0.9% in the second quarter. Nationwide Fund Advisors now owns 67,255 shares of the biopharmaceutical company’s stock worth $708,000 after buying an additional 631 shares during the last quarter. Finally, Mesirow Financial Investment Management Equity Management acquired a new position in Omeros Corporation during the second quarter worth $244,000. Hedge funds and other institutional investors own 47.99% of the company’s stock.

About Omeros Corporation

Omeros Corporation is a biopharmaceutical company engaged in discovering, developing and commercializing small-molecule and protein therapeutics for market, as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system. The Company’s marketed drug product, Omidria (phenylephrine and ketorolac injection), is used during cataract surgery or intraocular lens replacement.

5 Day Chart for NASDAQ:OMER

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