Wedbush Equities Analysts Reduce Earnings Estimates for Omeros Co. (OMER)
Omeros Co. (NASDAQ:OMER) – Equities researchers at Wedbush cut their FY2020 EPS estimates for Omeros in a research note issued to investors on Thursday. Wedbush analyst L. Moussatos now anticipates that the biopharmaceutical company will post earnings of $1.47 per share for the year, down from their prior forecast of $1.81. Wedbush has a “Outperform” rating and a $47.00 price objective on the stock. Wedbush also issued estimates for Omeros’ FY2021 earnings at $2.39 EPS.
OMER has been the subject of several other research reports. Zacks Investment Research raised shares of Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th. Maxim Group reaffirmed a “buy” rating and set a $24.00 price target on shares of Omeros in a research report on Monday, November 6th. HC Wainwright began coverage on shares of Omeros in a research report on Wednesday, November 8th. They set a “buy” rating and a $30.00 price target for the company. Finally, Cowen lowered shares of Omeros from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 2nd. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $34.14.
Omeros (NASDAQ:OMER) last posted its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.18. The firm had revenue of $21.66 million during the quarter, compared to analyst estimates of $17.82 million. The business’s quarterly revenue was up 91.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.34) EPS.
Hedge funds and other institutional investors have recently bought and sold shares of the business. First Interstate Bank bought a new position in Omeros during the 3rd quarter valued at $108,000. Legal & General Group Plc boosted its stake in Omeros by 7.8% during the 2nd quarter. Legal & General Group Plc now owns 10,359 shares of the biopharmaceutical company’s stock valued at $208,000 after acquiring an additional 751 shares during the last quarter. Hanseatic Management Services Inc. boosted its stake in Omeros by 10,919.6% during the 3rd quarter. Hanseatic Management Services Inc. now owns 10,689 shares of the biopharmaceutical company’s stock valued at $231,000 after acquiring an additional 10,592 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Omeros during the 3rd quarter valued at $256,000. Finally, SG Americas Securities LLC boosted its stake in Omeros by 138.9% during the 3rd quarter. SG Americas Securities LLC now owns 12,154 shares of the biopharmaceutical company’s stock valued at $263,000 after acquiring an additional 7,067 shares during the last quarter. Hedge funds and other institutional investors own 49.71% of the company’s stock.
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Omeros 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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