Omeros (NASDAQ:OMER) Stock Rating Reaffirmed as Overweight by Cantor Fitzgerald

Omeros (NASDAQ:OMER)‘s stock had its “overweight” rating restated by equities research analysts at Cantor Fitzgerald in a research report issued on Wednesday, Marketbeat.com reports. They presently have a $22.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 15.49% from the company’s current price.

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

Omeros Price Performance

NASDAQ:OMER traded up $0.17 on Wednesday, reaching $19.05. 35,648 shares of the company’s stock were exchanged, compared to its average volume of 1,646,360. The stock has a fifty day simple moving average of $18.12 and a 200-day simple moving average of $13.72. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 14.88 and a beta of 2.57. Omeros has a 52 week low of $6.24 and a 52 week high of $21.24.

Omeros (NASDAQ:OMER) last issued its quarterly earnings data on Wednesday, August 12th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.29. The company had revenue of $28.53 million for the quarter, compared to analysts’ expectations of $12.69 million. As a group, sell-side analysts predict that Omeros will post -0.37 EPS for the current year.

Insider Buying and Selling

In other Omeros news, CAO David J. Borges sold 10,000 shares of Omeros stock in a transaction 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 owned 5,906 shares of the company’s stock, valued at approximately $111,918.70. This trade represents a 62.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter B. Cancelmo sold 25,000 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $18.54, for a total value of $463,500.00. Following the sale, the vice president directly owned 200 shares in the company, valued at $3,708. This trade represents a 99.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 105,906 shares of company stock worth $1,989,705 in the last 90 days. Corporate insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Omeros

A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Omeros during the 2nd quarter worth $57,484,000. State Street Corp raised its holdings in Omeros by 20.9% during the second quarter. State Street Corp now owns 2,319,906 shares of the biopharmaceutical company’s stock valued at $22,062,000 after acquiring an additional 400,331 shares during the period. Corient Private Wealth LLC lifted its position in shares of Omeros by 13.0% in 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 in the last quarter. Corient Private Wealth LP bought a new position in Omeros in the 2nd quarter worth approximately $6,274,000. Finally, Bank of America Corp DE lifted its holdings 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 worth $2,163,000 after buying an additional 74,997 shares in the last quarter. 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.