Analysts Set Omeros Corporation (NASDAQ:OMER) PT at $38.00

Shares of Omeros Corporation (NASDAQ:OMER) have received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $38.00.

A number of research analysts have recently weighed in on OMER shares. HC Wainwright restated a “buy” rating on shares of Omeros in a report on Monday, July 27th. Zacks Research cut shares of Omeros from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Wall Street Zen raised shares of Omeros from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings upgraded Omeros from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 3rd.

Omeros Stock Down 1.7%

OMER stock opened at $17.17 on Wednesday. Omeros has a 12-month low of $3.94 and a 12-month high of $19.65. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 13.41 and a beta of 2.60. The company has a 50 day moving average of $14.73 and a two-hundred day moving average of $12.62.

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

Insider Buying and Selling

In related news, CAO David J. Borges sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $18.95, for a total value of $189,500.00. Following the completion of the sale, the chief accounting officer directly owned 5,906 shares in the company, valued at approximately $111,918.70. The trade was a 62.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas J. Cable sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $18.45, for a total value of $276,750.00. Following the sale, the director directly owned 35,067 shares of the company’s stock, valued at $646,986.15. The trade was a 29.96% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 95,906 shares of company stock worth $1,780,205. Insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Omeros

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Omeros in the 2nd quarter valued at $57,484,000. Vanguard Group Inc. lifted its position in 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 acquiring an additional 666,357 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in Omeros by 13.0% during the fourth quarter. Corient Private Wealth LLC now owns 688,025 shares of the biopharmaceutical company’s stock valued at $11,817,000 after acquiring an additional 79,263 shares during the period. Corient Private Wealth LP bought a new stake in Omeros during the second quarter valued at about $6,274,000. Finally, Bank of America Corp DE grew its position in shares of Omeros by 57.8% in the first quarter. Bank of America Corp DE now owns 204,805 shares of the biopharmaceutical company’s stock valued at $2,163,000 after purchasing an additional 74,997 shares during the last quarter. Institutional investors own 48.79% of the company’s stock.

About Omeros

Omeros Corporation is a biopharmaceutical company focused on discovering, developing and commercializing therapies for diseases involving the complement system, immune system and inflammation. The company is headquartered in Seattle, Washington, and was founded in 1994 by Gregory A. Demopulos, M.D., who serves as its chairman and chief executive officer.

Omeros’ marketed product, OMIDRIA, is an ophthalmic solution containing phenylephrine and ketorolac. It is used during cataract surgery and other lens replacement procedures to help maintain pupil size and reduce postoperative pain and inflammation.