Omeros Corporation (OMER) Trading 4.2% Higher Following Analyst Upgrade
Omeros Corporation (NASDAQ:OMER)’s share price traded up 4.2% during trading on Monday after Zacks Investment Research upgraded the stock from a sell rating to a hold rating. The company traded as high as $8.70 and last traded at $7.65, with a volume of 3,283,767 shares. The stock had previously closed at $7.34.
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. “
Other equities analysts also recently issued research reports about the stock. FBR & Co reissued an “outperform” rating and issued a $38.00 price objective on shares of Omeros Corporation in a research note on Tuesday. Maxim Group reissued a “buy” rating and issued a $19.00 price objective on shares of Omeros Corporation in a research note on Tuesday. Cantor Fitzgerald reissued a “buy” rating and issued a $21.00 price objective on shares of Omeros Corporation in a research note on Monday. Wedbush reaffirmed an “outperform” rating and set a $56.00 price target (down from $62.00) on shares of Omeros Corporation in a research report on Thursday, August 11th. Finally, S&P Equity Research upped their price target on Omeros Corporation from $7.65 to $8.63 in a research report on Monday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Omeros Corporation has a consensus rating of “Buy” and an average price target of $32.45.
In other news, VP Marcia S. Kelbon sold 16,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $10.91, for a total transaction of $174,560.00. Following the sale, the vice president now directly owns 179,597 shares of the company’s stock, valued at $1,959,403.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Marcia S. Kelbon sold 15,900 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $11.56, for a total transaction of $183,804.00. Following the sale, the vice president now directly owns 179,497 shares in the company, valued at $2,074,985.32. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.
Several large investors have recently made changes to their positions in OMER. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Omeros Corporation during the second quarter worth $105,000. Bourgeon Capital Management LLC bought a new stake in shares of Omeros Corporation during the second quarter worth $158,000. BlackRock Advisors LLC raised its stake in shares of 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 period. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Omeros Corporation during the second quarter worth $244,000. Finally, Gradient Investments LLC raised its stake in shares of Omeros Corporation by 3.3% in the third quarter. Gradient Investments LLC now owns 25,285 shares of the biopharmaceutical company’s stock worth $282,000 after buying an additional 814 shares during the period. 48.04% of the stock is currently owned by hedge funds and other institutional investors.
The firm’s 50 day moving average price is $10.41 and its 200 day moving average price is $11.57. The company’s market cap is $294.70 million.
Omeros Corporation (NASDAQ:OMER) last issued its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.32) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.18. The business earned $10 million during the quarter, compared to analysts’ expectations of $9.80 million. During the same period in the prior year, the business earned ($0.44) EPS. The business’s quarterly revenue was up 212.5% on a year-over-year basis. On average, equities research analysts predict that Omeros Corporation will post ($1.55) EPS for the current fiscal year.
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.
Receive News & Stock Ratings for Omeros Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omeros Corporation and related stocks with our FREE daily email newsletter.