Omeros Corp.’s Outperform Rating Reaffirmed at Wedbush (OMER)
Omeros Corp. (NASDAQ:OMER)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a research report issued on Monday, StockRatingsNetwork.com reports. They currently have a $28.00 target price on the stock. Wedbush’s target price suggests a potential upside of 227.10% from the company’s current price.
The analysts wrote, “A recent conversation with a high-volume cataract surgeon on OMS302′s potential use enhances our outlook for Omeros. The FDA is cracking down on sterility of topical solutions used during intraocular lens replacement surgery. We recently had a conversation with a high-volume cataract surgeon about the changing regulatory landscape following sterility issues at compound pharmacies. The FDA has indicated that each patient must be given a separate bottle for topical NSAIDs and mydriatic agents. In addition, surgeons are no longer allowed to mix their own homebrews of these agents for use during surgery—a common practice.”
Shares of Omeros Corp. (NASDAQ:OMER) traded down 7.06% on Monday, hitting $7.9558. 3,420,436 shares of the company’s stock traded hands. Omeros Corp. has a 52-week low of $3.65 and a 52-week high of $11.85. The stock has a 50-day moving average of $5.36 and a 200-day moving average of $5.02. The company’s market cap is $237.5 million.
Omeros Corp. (NASDAQ:OMER) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.48) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.38) by $0.10. The company had revenue of $0.14 million for the quarter, compared to the consensus estimate of $1.19 million. During the same quarter last year, the company posted ($0.38) earnings per share. Omeros Corp.’s revenue was down 90.8% compared to the same quarter last year. Analysts expect that Omeros Corp. will post $-1.72 EPS for the current fiscal year.
Omeros Corporation operates as a biopharmaceutical company focused on the discovery, development and commercialization of products focused on inflammation and disorders of the central nervous system.
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