Omeros Corporation (OMER) Receives Average Rating of “Buy” from Brokerages
Omeros Corporation (NASDAQ:OMER) has received a consensus recommendation of “Buy” from the twelve analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $32.61.
OMER has been the topic of a number of recent research reports. Cantor Fitzgerald downgraded shares of Omeros Corporation from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $21.00 to $15.00 in a research report on Thursday, May 11th. Maxim Group set a $23.00 price target on shares of Omeros Corporation and gave the stock a “buy” rating in a research report on Thursday, May 11th. Wedbush restated an “outperform” rating and issued a $47.00 price target on shares of Omeros Corporation in a research report on Wednesday, May 10th. ValuEngine upgraded shares of Omeros Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Cowen and Company reiterated an “outperform” rating on shares of Omeros Corporation in a research report on Saturday, June 3rd.
Omeros Corporation (OMER) traded up 1.42% during trading on Tuesday, hitting $20.04. The company had a trading volume of 598,337 shares. The firm’s 50 day moving average is $21.60 and its 200-day moving average is $17.04. Omeros Corporation has a 52-week low of $7.20 and a 52-week high of $27.09. The stock’s market capitalization is $897.85 million.
Omeros Corporation (NASDAQ:OMER) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.12. The business had revenue of $17.15 million during the quarter, compared to the consensus estimate of $14.63 million. During the same quarter in the previous year, the business posted ($0.32) earnings per share. The company’s quarterly revenue was up 71.5% compared to the same quarter last year. On average, equities analysts forecast that Omeros Corporation will post ($1.30) earnings per share for the current year.
In other Omeros Corporation news, VP Michael A. Jacobsen sold 12,000 shares of the business’s 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 sale, the vice president now directly owns 19,500 shares in the company, valued at approximately $486,525. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael A. Jacobsen sold 24,000 shares of the business’s stock in a transaction dated 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 owns 2,650 shares in the company, valued at $56,180. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. National Asset Management Inc. bought a new stake in Omeros Corporation during the first quarter worth approximately $158,000. Legal & General Group Plc increased its stake in Omeros Corporation by 7.8% in the second quarter. Legal & General Group Plc now owns 10,359 shares of the biopharmaceutical company’s stock worth $208,000 after buying an additional 751 shares during the period. Russell Investments Group Ltd. bought a new stake in Omeros Corporation during the first quarter worth approximately $292,000. Highbridge Capital Management LLC bought a new stake in Omeros Corporation during the first quarter worth approximately $330,000. Finally, American International Group Inc. increased its stake in 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 period. Institutional investors own 44.93% of the company’s stock.
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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