Omeros Corporation (OMER) Lowered to Sell at Zacks Investment Research
Omeros Corporation (NASDAQ:OMER) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “Omeros Corporation is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation and disorders of the central nervous system. Omeros’ most clinically advanced product candidates are derived from its proprietary PharmacoSurgery(TM) platform designed to improve clinical outcomes of patients undergoing arthroscopic, ophthalmological, urological and other surgical and medical procedures. Omeros has four ongoing PharmacoSurgery(TM) clinical development programs, and its lead product candidate, OMS103HP, is being evaluated in Phase 3 clinical trials for use during arthroscopic surgery to improve postoperative joint function and reduce postoperative pain. Omeros is also building a diverse pipeline of preclinical programs targeting inflammation and central nervous system disorders. “
A number of other equities research analysts have also issued reports on the stock. Cantor Fitzgerald restated a “buy” rating and issued a $21.00 target price on shares of Omeros Corporation in a research note on Wednesday, August 10th. FBR & Co reiterated an “outperform” rating and set a $38.00 price objective on shares of Omeros Corporation in a research note on Wednesday, June 29th. Maxim Group dropped their price objective on shares of Omeros Corporation from $30.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. WBB Securities reiterated a “buy” rating and set a $75.00 price objective on shares of Omeros Corporation in a research note on Tuesday, June 14th. Finally, Wedbush reiterated an “outperform” rating and set a $56.00 price objective (down previously from $62.00) on shares of Omeros Corporation in a research note on Thursday, August 11th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Omeros Corporation has a consensus rating of “Buy” and an average price target of $35.86.
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Omeros Corporation (NASDAQ:OMER) opened at 8.61 on Wednesday. The company has a 50-day moving average price of $10.88 and a 200-day moving average price of $11.84. Omeros Corporation has a 12-month low of $8.55 and a 12-month high of $16.80. The firm’s market cap is $338.31 million.
Omeros Corporation (NASDAQ:OMER) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.18. The company earned $10 million during the quarter, compared to analyst estimates of $9.80 million. The business’s revenue for the quarter was up 212.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.44) EPS. On average, equities analysts predict that Omeros Corporation will post ($1.55) earnings per share for the current year.
In related news, VP Marcia S. Kelbon sold 16,000 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $10.91, for a total transaction of $174,560.00. Following the sale, the vice president now owns 179,597 shares in the company, valued at $1,959,403.27. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Marcia S. Kelbon sold 15,900 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $11.56, for a total transaction of $183,804.00. Following the sale, the vice president now owns 179,497 shares in the company, valued at approximately $2,074,985.32. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors raised its stake in shares of Omeros Corporation by 0.7% in the first quarter. BlackRock Fund Advisors now owns 1,471,968 shares of the biopharmaceutical company’s stock valued at $22,580,000 after buying an additional 10,605 shares during the last quarter. UBS Group AG raised its stake in shares of Omeros Corporation by 0.8% in the first quarter. UBS Group AG now owns 333,744 shares of the biopharmaceutical company’s stock valued at $5,120,000 after buying an additional 2,631 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Omeros Corporation during the second quarter valued at approximately $17,641,000. Chicago Equity Partners LLC purchased a new stake in shares of Omeros Corporation during the second quarter valued at approximately $961,000. Finally, Bourgeon Capital Management LLC purchased a new stake in shares of Omeros Corporation during the second quarter valued at approximately $158,000. Hedge funds and other institutional investors own 47.99% of the company’s stock.
About Omeros Corporation
Omeros Corporation is a biopharmaceutical company engaged in discovering, developing and commercializing small-molecule and protein therapeutics for market, as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system. The Company’s marketed drug product, Omidria (phenylephrine and ketorolac injection), is used during cataract surgery or intraocular lens replacement.
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