Omeros Corporation (OMER) Rating 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 Friday.
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 research analysts also recently weighed in on the stock. BidaskClub raised shares of Omeros Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, June 18th. WBB Securities reissued a “strong-buy” rating and issued a $75.00 price objective on shares of Omeros Corporation in a research report on Wednesday, June 14th. Wedbush reissued an “outperform” rating and issued a $47.00 price objective on shares of Omeros Corporation in a research report on Wednesday, June 14th. Maxim Group set a $23.00 price objective on shares of Omeros Corporation and gave the company a “buy” rating in a research report on Tuesday, June 13th. Finally, Cantor Fitzgerald set a $15.00 price objective on shares of Omeros Corporation and gave the company a “hold” rating in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $32.66.
Omeros Corporation (OMER) traded down 3.20% on Friday, reaching $25.71. 2,388,267 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $16.84 and its 200-day moving average is $13.14. The firm’s market cap is $1.13 billion. Omeros Corporation has a 12 month low of $7.20 and a 12 month high of $26.60.
Omeros Corporation (NASDAQ:OMER) last released its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. The business had revenue of $12.26 million during the quarter, compared to the consensus estimate of $13.32 million. The firm’s revenue for the quarter was up 65.2% on a year-over-year basis. During the same period last year, the business posted ($0.54) EPS. On average, equities analysts forecast that Omeros Corporation will post ($1.32) earnings per share for the current year.
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In other news, Director Thomas J. Cable sold 3,000 shares of Omeros Corporation stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $16.49, for a total value of $49,470.00. Following the completion of the transaction, the director now owns 40,067 shares of the company’s stock, valued at approximately $660,704.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael A. Jacobsen sold 12,000 shares of Omeros Corporation stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $24.95, for a total transaction of $299,400.00. Following the completion of the transaction, the vice president now directly owns 19,500 shares of the company’s stock, valued at approximately $486,525. The disclosure for this sale can be found here. In the last three months, insiders sold 39,000 shares of company stock valued at $857,670. Insiders own 13.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Omeros Corporation 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 last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Omeros Corporation by 52.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,258 shares of the biopharmaceutical company’s stock valued at $340,000 after buying an additional 11,734 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of Omeros Corporation by 16.4% in the fourth quarter. Baird Financial Group Inc. now owns 95,521 shares of the biopharmaceutical company’s stock valued at $948,000 after buying an additional 13,428 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Omeros Corporation during the fourth quarter valued at approximately $263,000. Finally, First Allied Advisory Services Inc. bought a new stake in shares of Omeros Corporation during the fourth quarter valued at approximately $108,000. 45.44% of the stock is owned by institutional investors and hedge funds.
About Omeros Corporation
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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