Omeros (NASDAQ:OMER) Upgraded by Wall Street Zen to “Buy” Rating

Omeros (NASDAQ:OMER) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other research analysts have also weighed in on the stock. D. Boral Capital reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Omeros in a research note on Tuesday, April 21st. Zacks Research raised shares of Omeros from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Weiss Ratings raised shares of Omeros from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, May 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Omeros in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $40.33.

Omeros Trading Down 1.0%

Omeros stock opened at $11.04 on Friday. Omeros has a 1-year low of $2.95 and a 1-year high of $17.65. The firm has a market capitalization of $799.08 million, a price-to-earnings ratio of 15.77 and a beta of 2.66. The firm’s fifty day moving average price is $12.30 and its two-hundred day moving average price is $11.70.

Omeros (NASDAQ:OMER) last released its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The business had revenue of $9.89 million during the quarter, compared to the consensus estimate of $4.19 million. On average, research analysts forecast that Omeros will post -0.94 EPS for the current year.

Insider Activity at Omeros

In other Omeros news, Director Thomas J. Cable sold 7,500 shares of Omeros stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $11.61, for a total transaction of $87,075.00. Following the transaction, the director owned 35,067 shares of the company’s stock, valued at $407,127.87. This trade represents a 17.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Omeros

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Omeros by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company’s stock worth $68,929,000 after buying an additional 666,357 shares in the last quarter. UBS Group AG lifted its position in shares of Omeros by 213.5% during the 4th quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company’s stock worth $38,180,000 after buying an additional 1,513,893 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Omeros by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 1,631,350 shares of the biopharmaceutical company’s stock worth $28,026,000 after buying an additional 95,979 shares in the last quarter. State Street Corp lifted its position in shares of Omeros by 26.9% during the 4th quarter. State Street Corp now owns 1,573,526 shares of the biopharmaceutical company’s stock worth $27,025,000 after buying an additional 333,798 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Omeros by 39.3% during the 3rd quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock worth $3,827,000 after buying an additional 263,095 shares in the last quarter. Institutional investors own 48.79% of the company’s stock.

About Omeros

Omeros Corporation is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of small-molecule and protein therapeutics. The company’s research programs target inflammation, complement-mediated diseases and disorders of the central nervous system. Omeros’s portfolio encompasses both internally discovered molecules and biologics, reflecting its commitment to advancing treatments for conditions with high unmet medical need.

Omeros’s first FDA-approved product, Omidria® (phenylephrine and ketorolac intraocular solution), is indicated to maintain pupil size by preventing intraoperative miosis and reducing postoperative pain in patients undergoing cataract surgery.