Omeros Corporation (NASDAQ:OMER) Stock Has Average Target Price of $34.00 According to Analysts

Omeros Corporation (NASDAQ:OMER) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $34.00.

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald raised Omeros from a “neutral” rating to an “overweight” rating and set a $22.00 target price on the stock in a research note on Tuesday, September 22nd. Zacks Research downgraded shares of Omeros from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Wall Street Zen upgraded Omeros from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings lowered shares of Omeros from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, September 22nd. Finally, HC Wainwright reissued a “buy” rating on shares of Omeros in a research report on Monday, July 27th.

Omeros Stock Up 2.0%

Shares of OMER opened at $19.12 on Friday. The stock has a market capitalization of $1.38 billion, a P/E ratio of 14.94 and a beta of 2.57. Omeros has a twelve month low of $4.05 and a twelve month high of $21.24. The firm has a fifty day simple moving average of $17.70 and a two-hundred day simple moving average of $13.53.

Omeros (NASDAQ:OMER) last released its quarterly earnings data on Wednesday, August 12th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.29. The firm had revenue of $28.53 million during the quarter, compared to analysts’ expectations of $12.69 million. Sell-side analysts expect that Omeros will post -0.37 EPS for the current fiscal year.

Insider Transactions at Omeros

In related news, Director Thomas Cable sold 15,000 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $18.45, for a total transaction of $276,750.00. Following the completion of the sale, the director owned 35,067 shares in the company, valued at approximately $646,986.15. This represents a 29.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Peter Cancelmo sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $18.54, for a total value of $463,500.00. Following the completion of the transaction, the vice president directly owned 200 shares in the company, valued at $3,708. The trade was a 99.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 105,906 shares of company stock worth $1,989,705. 10.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Omeros

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. purchased a new position in Omeros during the first quarter valued at $38,000. International Assets Investment Management LLC lifted its position in shares of Omeros by 16.0% during the 1st quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 800 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Omeros during the 4th quarter valued at approximately $159,000. Leonteq Securities AG purchased a new stake in Omeros in the 1st quarter worth approximately $106,000. Finally, Engineers Gate Manager LP purchased a new position in Omeros during the second quarter valued at approximately $138,000. 48.79% of the stock is currently owned by hedge funds and other institutional investors.

About Omeros

Omeros Corporation (NASDAQ: OMER) is a biopharmaceutical company focused on discovering, developing and commercializing therapies for disorders involving the complement, immune and coagulation systems. The company has also developed a pipeline of investigational therapies aimed at treating serious diseases involving complement activation and immune-system dysfunction. The company is headquartered in Seattle, Washington, and was founded in 1994.

Its leading investigational programs have included narsoplimab, which targets the lectin pathway of the complement system, and OMS906, an antibody designed to inhibit MASP-3 and regulate the alternative pathway.