Omeros Corporation (NASDAQ:OMER) Receives Average Rating of “Buy” from Brokerages

Shares of Omeros Corporation (NASDAQ:OMER) have been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $40.3333.

Several brokerages recently issued reports on OMER. Wall Street Zen raised Omeros from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings raised shares of Omeros from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 14th. Zacks Research raised shares of Omeros from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. D. Boral Capital reiterated a “buy” rating and issued a $36.00 price target on shares of Omeros in a report on Tuesday, April 21st. Finally, HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of Omeros in a report on Thursday, May 14th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Omeros

A number of hedge funds have recently bought and sold shares of OMER. State of Wyoming bought a new stake in shares of Omeros in the 4th quarter worth about $25,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Omeros in the 2nd quarter valued at about $32,000. Caitong International Asset Management Co. Ltd purchased a new position in Omeros in the fourth quarter worth about $33,000. Assetmark Inc. bought a new stake in Omeros during the first quarter worth approximately $38,000. Finally, Tower Research Capital LLC TRC increased its stake in Omeros by 829.6% during the second quarter. Tower Research Capital LLC TRC now owns 13,414 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 11,971 shares during the last quarter. Hedge funds and other institutional investors own 48.79% of the company’s stock.

Omeros Stock Performance

OMER opened at $11.04 on Monday. The stock has a market cap of $799.08 million, a price-to-earnings ratio of 15.77 and a beta of 2.52. The firm’s fifty day moving average is $12.30 and its 200 day moving average is $11.74. Omeros has a fifty-two week low of $2.95 and a fifty-two week high of $17.65.

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

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.