Omeros Corporation (OMER) Upgraded to Hold by Zacks Investment Research
Omeros Corporation (NASDAQ:OMER) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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 analysts also recently commented on the stock. FBR & Co restated an “outperform” rating and set a $38.00 price target on shares of Omeros Corporation in a research report on Tuesday. Maxim Group restated a “buy” rating and set a $19.00 price target on shares of Omeros Corporation in a research report on Tuesday. Cantor Fitzgerald restated a “buy” rating and set a $21.00 price target on shares of Omeros Corporation in a research report on Monday. WBB Securities restated a “buy” rating and set a $75.00 price target on shares of Omeros Corporation in a research report on Monday. Finally, S&P Equity Research boosted their price target on shares of Omeros Corporation from $7.65 to $8.63 in a research report on Monday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Omeros Corporation currently has a consensus rating of “Buy” and a consensus price target of $32.45.
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Shares of Omeros Corporation (NASDAQ:OMER) opened at 7.50 on Wednesday. The company’s 50-day moving average is $10.41 and its 200-day moving average is $11.57. The firm’s market cap is $294.70 million. Omeros Corporation has a 12 month low of $7.20 and a 12 month high of $16.80.
Omeros Corporation (NASDAQ:OMER) last released its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.18. The company had revenue of $10 million for the quarter, compared to the consensus estimate of $9.80 million. During the same quarter last year, the firm posted ($0.44) earnings per share. The firm’s quarterly revenue was up 212.5% compared to the same quarter last year. On average, equities research 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 business’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Marcia S. Kelbon sold 15,900 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were 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. 13.60% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Ingalls & Snyder LLC purchased a new stake in Omeros Corporation during the second quarter worth about $46,441,000. Bank of Montreal Can purchased a new stake in Omeros Corporation during the second quarter worth about $17,641,000. BlackRock Fund Advisors raised its stake in Omeros Corporation by 0.7% in the first quarter. BlackRock Fund Advisors now owns 1,471,968 shares of the biopharmaceutical company’s stock worth $22,580,000 after buying an additional 10,605 shares in the last quarter. Vanguard Group Inc. raised its stake in Omeros Corporation by 2.3% in the second quarter. Vanguard Group Inc. now owns 1,430,125 shares of the biopharmaceutical company’s stock worth $15,045,000 after buying an additional 32,401 shares in the last quarter. Finally, State Street Corp raised its stake in Omeros Corporation by 16.8% in the second quarter. State Street Corp now owns 881,993 shares of the biopharmaceutical company’s stock worth $9,274,000 after buying an additional 126,595 shares in the last quarter. Institutional investors and hedge funds 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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