Omeros Corporation (NASDAQ:OMER) Receives Consensus Rating of “Moderate Buy” from Analysts

Omeros Corporation (NASDAQ:OMER) has received a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $38.00.

Several analysts recently weighed in on the company. Weiss Ratings upgraded Omeros from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded Omeros from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Zacks Research downgraded Omeros from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, HC Wainwright reissued a “buy” rating on shares of Omeros in a report on Monday, July 27th.

Insider Activity at Omeros

In related news, Director Thomas J. Cable sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $11.61, for a total transaction of $87,075.00. Following the completion of the transaction, the director directly owned 35,067 shares in the company, valued at $407,127.87. This represents a 17.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO David J. Borges sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $16.95, for a total transaction of $84,750.00. Following the transaction, the chief accounting officer owned 5,000 shares of the company’s stock, valued at approximately $84,750. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Omeros by 9,655.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,362 shares of the biopharmaceutical company’s stock valued at $507,000 after acquiring an additional 52,815 shares in the last quarter. Wellington Management Group LLP increased its holdings in Omeros by 9.2% in the 2nd quarter. Wellington Management Group LLP now owns 204,541 shares of the biopharmaceutical company’s stock worth $1,945,000 after purchasing an additional 17,241 shares in the last quarter. Corient Private Wealth LP acquired a new position in Omeros in the 2nd quarter worth about $6,274,000. Bank of America Corp DE bought a new position in Omeros in the second quarter valued at about $1,846,000. Finally, Jupiter Topco LLC bought a new position in Omeros in the second quarter valued at about $290,000. 48.79% of the stock is currently owned by institutional investors and hedge funds.

Omeros Price Performance

Shares of OMER opened at $18.39 on Friday. The firm has a 50 day simple moving average of $11.35 and a two-hundred day simple moving average of $11.66. Omeros has a one year low of $3.94 and a one year high of $18.89. The company has a market cap of $1.33 billion, a P/E ratio of 14.37 and a beta of 2.54.

Omeros (NASDAQ:OMER) last issued its earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.29. The business had revenue of $28.53 million during the quarter, compared to analyst estimates of $12.69 million. On average, analysts expect that Omeros will post -0.37 earnings per share for the current fiscal year.

Omeros Company Profile

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.