Omeros Corporation (OMER) Stock Rating Lowered by Zacks Investment Research
Omeros Corporation (NASDAQ:OMER) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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. “
A number of other analysts have also recently commented on the stock. Cantor Fitzgerald restated a “buy” rating and issued a $21.00 price objective on shares of Omeros Corporation in a research report on Wednesday, August 10th. Needham & Company LLC lowered their target price on Omeros Corporation from $28.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, November 10th. Maxim Group lowered their target price on Omeros Corporation from $30.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Wedbush reiterated an “outperform” rating and set a $56.00 target price (down previously from $62.00) on shares of Omeros Corporation in a report on Thursday, August 11th. Finally, WBB Securities reiterated a “buy” rating and set a $75.00 target price on shares of Omeros Corporation in a report on Monday, October 17th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. Omeros Corporation currently has an average rating of “Buy” and a consensus price target of $34.52.
Omeros Corporation (NASDAQ:OMER) opened at 13.75 on Wednesday. Omeros Corporation has a 52-week low of $7.20 and a 52-week high of $16.80. The company’s 50 day moving average price is $9.49 and its 200 day moving average price is $10.83. The firm’s market cap is $590.08 million.
Omeros Corporation (NASDAQ:OMER) last released its quarterly earnings data on Wednesday, November 9th. The biopharmaceutical company reported ($0.34) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.06. The firm earned $11.30 million during the quarter, compared to the consensus estimate of $11.64 million. During the same quarter in the prior year, the company earned ($0.53) EPS. Omeros Corporation’s quarterly revenue was up 253.1% on a year-over-year basis. Analysts predict that Omeros Corporation will post ($1.68) earnings per share for the current fiscal year.
In other news, VP Marcia S. Kelbon sold 16,000 shares of the firm’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 completion of the transaction, the vice president now owns 179,597 shares in the company, valued at approximately $1,959,403.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.60% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. BlackRock Fund Advisors increased its stake in shares of Omeros Corporation by 0.7% in the first quarter. BlackRock Fund Advisors now owns 1,471,968 shares of the biopharmaceutical company’s stock valued at $22,580,000 after buying an additional 10,605 shares during the period. Bank of Montreal Can purchased a new stake in shares of Omeros Corporation during the second quarter valued at about $17,641,000. Chicago Equity Partners LLC purchased a new stake in shares of Omeros Corporation during the second quarter valued at about $961,000. Bourgeon Capital Management LLC purchased a new stake in shares of Omeros Corporation during the second quarter valued at about $158,000. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Omeros Corporation by 1.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 30,737 shares of the biopharmaceutical company’s stock valued at $323,000 after buying an additional 351 shares during the period. Institutional investors and hedge funds own 51.86% 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.
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