Maxim Group Reaffirms “Buy” Rating for Omeros Corporation (OMER)
Omeros Corporation (NASDAQ:OMER)‘s stock had its “buy” rating reissued by stock analysts at Maxim Group in a report issued on Tuesday. They currently have a $19.00 target price on the biopharmaceutical company’s stock. Maxim Group’s target price would suggest a potential upside of 150.00% from the stock’s previous close.
Several other research analysts have also recently issued reports on OMER. S&P Equity Research upped their target price on shares of Omeros Corporation from $7.65 to $8.63 in a report on Monday. WBB Securities restated a “buy” rating and issued a $75.00 target price on shares of Omeros Corporation in a report on Monday. Cantor Fitzgerald reiterated a “buy” rating and set a $21.00 price target on shares of Omeros Corporation in a research note on Monday. Wedbush reiterated an “outperform” rating and set a $56.00 price target (down previously from $62.00) on shares of Omeros Corporation in a research note on Thursday, August 11th. Finally, Zacks Investment Research cut shares of Omeros Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $32.45.
Omeros Corporation (NASDAQ:OMER) traded down 0.92% during mid-day trading on Tuesday, hitting $7.53. 505,888 shares of the stock were exchanged. Omeros Corporation has a one year low of $7.20 and a one year high of $16.80. The company’s market cap is $295.88 million. The company has a 50-day moving average price of $10.51 and a 200-day moving average price of $11.63.
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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 the consensus estimate of ($0.50) by $0.18. The company earned $10 million during the quarter, compared to analyst estimates of $9.80 million. During the same quarter in the previous year, the company posted ($0.44) EPS. The company’s quarterly revenue was up 212.5% on a year-over-year basis. Analysts forecast that Omeros Corporation will post ($1.55) earnings per share for the current fiscal year.
In other news, VP Marcia S. Kelbon sold 16,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $10.91, for a total value of $174,560.00. Following the completion of the sale, the vice president now owns 179,597 shares in the company, valued at approximately $1,959,403.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Marcia S. Kelbon sold 15,900 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $11.56, for a total transaction of $183,804.00. Following the completion of the sale, the vice president now owns 179,497 shares of the company’s stock, 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.
Several hedge funds have recently added to or reduced their stakes in OMER. State Board of Administration of Florida Retirement System boosted its stake in Omeros Corporation by 1.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 30,737 shares of the biopharmaceutical company’s stock valued at $323,000 after buying an additional 351 shares during the period. UBS Group AG boosted its stake in 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 period. GSA Capital Partners LLP purchased a new stake in Omeros Corporation during the second quarter valued at approximately $762,000. Mesirow Financial Investment Management Equity Management purchased a new stake in Omeros Corporation during the second quarter valued at approximately $244,000. Finally, Brown Advisory Inc. boosted its stake in Omeros Corporation by 4.0% in the second quarter. Brown Advisory Inc. now owns 543,763 shares of the biopharmaceutical company’s stock valued at $5,721,000 after buying an additional 21,133 shares during the period. Institutional investors own 48.04% 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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