Omeros (NASDAQ:OMER) Stock Keeps “Overweight” Rating at Cantor Fitzgerald

Omeros (NASDAQ:OMER)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a note issued to investors on Wednesday, Benzinga reports. They presently have a $22.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 16.53% from the company’s previous close.

Several other analysts also recently commented on the stock. Wall Street Zen upgraded shares of Omeros from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Zacks Research downgraded shares of Omeros from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings upgraded Omeros from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, HC Wainwright reissued a “buy” rating on shares of Omeros in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Omeros currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Omeros Stock Down 3.8%

OMER stock opened at $18.88 on Wednesday. The business’s 50-day moving average price is $18.12 and its 200-day moving average price is $13.72. The stock has a market cap of $1.37 billion, a P/E ratio of 14.75 and a beta of 2.57. Omeros has a twelve month low of $4.05 and a twelve month high of $21.24.

Omeros (NASDAQ:OMER) last released its earnings results on Wednesday, August 12th. The biopharmaceutical company reported $0.02 earnings per share (EPS) 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 analysts’ expectations of $12.69 million. On average, equities research analysts expect that Omeros will post -0.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Omeros news, Director Arnold Hanish sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $18.95, for a total value of $189,500.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at $94,750. This represents a 66.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas Cable sold 15,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $18.45, for a total transaction of $276,750.00. Following the sale, the director directly owned 35,067 shares of the company’s stock, valued at approximately $646,986.15. This trade represents a 29.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 105,906 shares of company stock valued at $1,989,705 in the last 90 days. 10.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Omeros

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GK Wealth Management LLC purchased a new position in Omeros during the third quarter valued at $65,000. State Street Corp lifted its stake in Omeros by 20.9% in the 2nd quarter. State Street Corp now owns 2,319,906 shares of the biopharmaceutical company’s stock worth $22,062,000 after purchasing an additional 400,331 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in Omeros in the 2nd quarter worth $138,000. Squarepoint Ops LLC bought a new position in shares of Omeros during the 2nd quarter valued at about $523,000. Finally, Arizona State Retirement System bought a new position in shares of Omeros during the 2nd quarter valued at about $179,000. Institutional investors own 48.79% of the company’s stock.

Omeros Company Profile

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.