Omeros Co. (OMER) Given “Buy” Rating at Maxim Group
Omeros Co. (NASDAQ:OMER)‘s stock had its “buy” rating reaffirmed by equities research analysts at Maxim Group in a note issued to investors on Monday. They presently have a $23.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $22.00. Maxim Group’s price target suggests a potential upside of 43.12% from the company’s current price.
Other equities analysts have also recently issued reports about the company. FBR & Co reiterated a “buy” rating on shares of Omeros in a research report on Saturday, April 1st. WBB Securities reaffirmed a “buy” rating and issued a $75.00 target price on shares of Omeros in a research report on Thursday, March 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price (down previously from $24.00) on shares of Omeros in a research report on Friday, March 17th. Zacks Investment Research raised Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, March 15th. Finally, Cantor Fitzgerald cut Omeros from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $21.00 to $15.00 in a research report on Thursday, May 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $32.66.
Omeros (NASDAQ:OMER) traded down 0.1568% during mid-day trading on Monday, hitting $16.0448. The company had a trading volume of 90,430 shares. Omeros has a 52-week low of $7.20 and a 52-week high of $17.19. The firm’s market cap is $704.99 million. The stock’s 50 day moving average price is $15.91 and its 200 day moving average price is $12.20.
Omeros (NASDAQ:OMER) last issued its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.01. The firm had revenue of $12.26 million for the quarter, compared to analyst estimates of $13.32 million. During the same quarter last year, the business posted ($0.54) earnings per share. The firm’s revenue for the quarter was up 65.2% compared to the same quarter last year. On average, equities research analysts predict that Omeros will post ($1.25) EPS for the current fiscal year.
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In related news, Director Thomas J. Cable sold 3,000 shares of the stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $16.49, for a total transaction of $49,470.00. Following the completion of the sale, the director now directly owns 40,067 shares in the company, valued at $660,704.83. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 13.60% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Ingalls & Snyder LLC raised its position in Omeros by 15.2% in the third quarter. Ingalls & Snyder LLC now owns 5,085,949 shares of the biopharmaceutical company’s stock valued at $56,759,000 after buying an additional 671,370 shares during the period. Vanguard Group Inc. raised its position in Omeros by 5.1% in the first quarter. Vanguard Group Inc. now owns 1,731,391 shares of the biopharmaceutical company’s stock valued at $26,179,000 after buying an additional 83,868 shares during the period. Cpcm LLC bought a new position in Omeros during the fourth quarter valued at $12,709,000. State Street Corp raised its position in Omeros by 4.6% in the fourth quarter. State Street Corp now owns 943,121 shares of the biopharmaceutical company’s stock valued at $9,362,000 after buying an additional 41,284 shares during the period. Finally, UBS Group AG raised its position in Omeros by 4.2% in the first quarter. UBS Group AG now owns 398,356 shares of the biopharmaceutical company’s stock valued at $6,023,000 after buying an additional 16,075 shares during the period. Institutional investors and hedge funds own 47.94% of the company’s stock.
Omeros Corporation is a biopharmaceutical company. The Company is engaged in discovering, developing and commercializing small-molecule and protein therapeutics for large-market, as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system. Its marketed drug product, Omidria (phenylephrine and ketorolac injection), is used during cataract surgery or intraocular lens (IOL) replacement.
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