Omeros Corporation (OMER) Rating Increased to Hold at Zacks Investment Research
Omeros Corporation (NASDAQ:OMER) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
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 brokerages have also issued reports on OMER. Wedbush reduced their target price on shares of Omeros Corporation from $56.00 to $47.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 16th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $21.00 target price on shares of Omeros Corporation in a research note on Wednesday, August 10th. Maxim Group reduced their target price on shares of Omeros Corporation from $30.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. WBB Securities reaffirmed a “buy” rating and issued a $75.00 target price on shares of Omeros Corporation in a research note on Thursday, November 17th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Omeros Corporation in a research note on Thursday, November 10th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Omeros Corporation has a consensus rating of “Buy” and an average target price of $33.23.
Omeros Corporation (NASDAQ:OMER) opened at 12.75 on Tuesday. The firm’s market cap is $547.17 million. The firm has a 50-day moving average of $9.78 and a 200 day moving average of $10.85. Omeros Corporation has a 1-year low of $7.20 and a 1-year high of $16.80.
Omeros Corporation (NASDAQ:OMER) last posted its quarterly earnings data on Wednesday, November 9th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.06. The company earned $11.30 million during the quarter, compared to analyst estimates of $11.64 million. The company’s revenue was up 253.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.53) EPS. Analysts expect that Omeros Corporation will post ($1.69) earnings per share for the current fiscal year.
In other Omeros Corporation news, VP Marcia S. Kelbon sold 16,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $1,959,403.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. BlackRock Fund Advisors increased its stake in Omeros Corporation by 0.7% in the first quarter. BlackRock Fund Advisors now owns 1,471,968 shares of the biopharmaceutical company’s stock worth $22,580,000 after buying an additional 10,605 shares during the period. Bank of Montreal Can acquired a new stake in Omeros Corporation during the second quarter worth about $17,641,000. Chicago Equity Partners LLC acquired a new stake in Omeros Corporation during the second quarter worth about $961,000. Bourgeon Capital Management LLC acquired a new stake in Omeros Corporation during the second quarter worth about $158,000. Finally, State Board of Administration of Florida Retirement System increased its stake in 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 worth $323,000 after buying an additional 351 shares during the period. Hedge funds and other institutional investors own 52.08% of the company’s stock.
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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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