Omeros Corporation (NASDAQ:OMER) Receives Consensus Rating of “Buy” from Brokerages
Omeros Corporation (NASDAQ:OMER) has been assigned an average recommendation of “Buy” from the eleven ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $31.77.
OMER has been the subject of a number of analyst reports. Cowen and Company reiterated an “outperform” rating on shares of Omeros Corporation in a research note on Saturday, June 3rd. Maxim Group set a $23.00 price target on Omeros Corporation and gave the stock a “buy” rating in a research note on Thursday, May 11th. FBR & Co reiterated a “buy” rating on shares of Omeros Corporation in a research note on Saturday, April 1st. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target (down previously from $24.00) on shares of Omeros Corporation in a research note on Friday, March 17th. Finally, Wedbush reissued an “outperform” rating and set a $47.00 price objective on shares of Omeros Corporation in a report on Monday, April 3rd.
In related news, Director Thomas J. Cable sold 3,000 shares of the 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 can be accessed through this hyperlink. Also, VP Michael A. Jacobsen sold 24,000 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $21.20, for a total transaction of $508,800.00. Following the completion of the transaction, the vice president now directly owns 2,650 shares of the company’s stock, valued at approximately $56,180. The disclosure for this sale can be found here. Insiders have sold a total of 39,000 shares of company stock valued at $857,670 in the last three months. Insiders own 13.60% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. National Asset Management Inc. acquired a new position in shares of Omeros Corporation during the first quarter worth approximately $158,000. Russell Investments Group Ltd. acquired a new position in shares of Omeros Corporation during the first quarter worth approximately $292,000. Highbridge Capital Management LLC acquired a new position in shares of Omeros Corporation during the first quarter worth approximately $330,000. Raymond James Financial Services Advisors Inc. increased its position 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 worth $340,000 after buying an additional 11,734 shares during the last quarter. Finally, American International Group Inc. increased its position in shares of Omeros Corporation by 15.2% in the first quarter. American International Group Inc. now owns 24,521 shares of the biopharmaceutical company’s stock worth $371,000 after buying an additional 3,232 shares during the last quarter. 45.44% of the stock is owned by hedge funds and other institutional investors.
Omeros Corporation (NASDAQ OMER) traded up 7.54% during mid-day trading on Monday, reaching $20.55. The company’s stock had a trading volume of 1,056,040 shares. The firm’s market cap is $902.95 million. Omeros Corporation has a 12-month low of $7.20 and a 12-month high of $27.09. The company has a 50-day moving average price of $18.46 and a 200-day moving average price of $13.78.
Omeros Corporation (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, topping the Zacks’ consensus estimate of ($0.35) by $0.01. The business had revenue of $12.26 million during the quarter, compared to analysts’ expectations of $13.32 million. During the same quarter in the previous year, the company posted ($0.54) EPS. The company’s quarterly revenue was up 65.2% on a year-over-year basis. On average, equities research analysts expect that Omeros Corporation will post ($1.31) earnings per share for the current year.
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Omeros Corporation Company Profile
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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