Omeros (NASDAQ:OMER) Given Buy Rating at HC Wainwright

Omeros (NASDAQ:OMER)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $40.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 301.20% from the company’s previous close.

Several other equities analysts have also recently weighed in on OMER. Wall Street Zen cut Omeros from a “buy” rating to a “hold” rating in a report on Sunday. Weiss Ratings cut shares of Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. D. Boral Capital reissued a “buy” rating and set a $36.00 price objective on shares of Omeros in a research report on Tuesday, April 21st. Finally, Zacks Research upgraded shares of Omeros from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.33.

Omeros Price Performance

Shares of NASDAQ:OMER opened at $9.97 on Wednesday. The firm’s 50 day simple moving average is $12.25 and its 200 day simple moving average is $11.86. The company has a market capitalization of $721.63 million, a price-to-earnings ratio of 14.24 and a beta of 2.52. Omeros has a fifty-two week low of $2.95 and a fifty-two week high of $17.65.

Omeros (NASDAQ:OMER) last announced its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.16. The firm had revenue of $9.89 million during the quarter, compared to analyst estimates of $4.19 million. Equities research analysts expect that Omeros will post -0.94 earnings per share for the current year.

Insider Activity

In related news, Director Thomas J. Cable sold 7,500 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $11.61, for a total transaction of $87,075.00. Following the sale, the director owned 35,067 shares in the company, valued at approximately $407,127.87. This represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On Omeros

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Group AG grew its stake in shares of Omeros by 213.5% in the fourth quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company’s stock valued at $38,180,000 after buying an additional 1,513,893 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Omeros by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company’s stock worth $68,929,000 after purchasing an additional 666,357 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Omeros by 1,201.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 416,153 shares of the biopharmaceutical company’s stock valued at $1,706,000 after purchasing an additional 384,168 shares during the period. State Street Corp raised its holdings in shares of Omeros by 26.9% in the 4th quarter. State Street Corp now owns 1,573,526 shares of the biopharmaceutical company’s stock valued at $27,025,000 after purchasing an additional 333,798 shares during the period. Finally, Two Sigma Investments LP lifted its stake in Omeros by 39.3% in the 3rd quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock valued at $3,827,000 after purchasing an additional 263,095 shares during the last quarter. Institutional investors own 48.79% of the company’s stock.

About Omeros

Omeros Corporation is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of small-molecule and protein therapeutics. The company’s research programs target inflammation, complement-mediated diseases and disorders of the central nervous system. Omeros’s portfolio encompasses both internally discovered molecules and biologics, reflecting its commitment to advancing treatments for conditions with high unmet medical need.

Omeros’s first FDA-approved product, Omidria® (phenylephrine and ketorolac intraocular solution), is indicated to maintain pupil size by preventing intraoperative miosis and reducing postoperative pain in patients undergoing cataract surgery.