Omeros Corporation (OMER) Given Outperform Rating at Wedbush
Omeros Corporation (NASDAQ:OMER)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a note issued to investors on Friday. They currently have a $47.00 price objective on the biopharmaceutical company’s stock. Wedbush’s target price would indicate a potential upside of 109.07% from the stock’s previous close.
OMER has been the subject of several other reports. Zacks Investment Research upgraded Omeros Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. ValuEngine upgraded Omeros Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Cantor Fitzgerald set a $15.00 price target on Omeros Corporation and gave the stock a “hold” rating in a research note on Tuesday, June 13th. WBB Securities restated a “strong-buy” rating and issued a $75.00 price target on shares of Omeros Corporation in a research note on Wednesday, June 14th. Finally, BidaskClub upgraded Omeros Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, June 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Omeros Corporation presently has a consensus rating of “Buy” and a consensus price target of $32.80.
Shares of Omeros Corporation (NASDAQ:OMER) opened at 22.48 on Friday. Omeros Corporation has a one year low of $7.20 and a one year high of $27.09. The stock’s market capitalization is $1.01 billion. The stock has a 50 day moving average of $21.48 and a 200-day moving average of $16.55.
Omeros Corporation (NASDAQ:OMER) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.12. The company had revenue of $17.15 million for the quarter, compared to the consensus estimate of $14.63 million. The company’s revenue was up 71.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.32) earnings per share. Equities analysts forecast that Omeros Corporation will post ($1.40) earnings per share for the current year.
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In other news, VP Michael A. Jacobsen sold 24,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $21.20, for a total transaction of $508,800.00. Following the sale, the vice president now directly owns 2,650 shares of the company’s stock, valued at approximately $56,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael A. Jacobsen sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $24.95, for a total value of $299,400.00. Following the sale, the vice president now directly owns 19,500 shares in the company, valued at $486,525. The disclosure for this sale can be found here. 13.60% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of OMER. National Asset Management Inc. purchased a new stake in shares of Omeros Corporation during the first quarter valued at about $158,000. Legal & General Group Plc boosted its stake in shares of Omeros Corporation by 7.8% in the second quarter. Legal & General Group Plc now owns 10,359 shares of the biopharmaceutical company’s stock valued at $208,000 after buying an additional 751 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Omeros Corporation during the first quarter valued at about $292,000. Highbridge Capital Management LLC purchased a new stake in shares of Omeros Corporation during the first quarter valued at about $330,000. Finally, American International Group Inc. boosted its stake 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 valued at $371,000 after buying an additional 3,232 shares during the period. 43.94% of the stock is currently owned by institutional investors and hedge funds.
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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