Zacks Investment Research downgraded shares of Omeros Corporation (NASDAQ:OMER) from a hold rating to a sell rating in a research report report published on Thursday, November 9th.
According to Zacks, “Omeros Corporation is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation and disorders of the central nervous system. Omeros’ most clinically advanced product candidates are derived from its proprietary PharmacoSurgery(TM) platform designed to improve clinical outcomes of patients undergoing arthroscopic, ophthalmological, urological and other surgical and medical procedures. Omeros has four ongoing PharmacoSurgery(TM) clinical development programs, and its lead product candidate, OMS103HP, is being evaluated in Phase 3 clinical trials for use during arthroscopic surgery to improve postoperative joint function and reduce postoperative pain. Omeros is also building a diverse pipeline of preclinical programs targeting inflammation and central nervous system disorders. “
Several other analysts have also recently weighed in on OMER. HC Wainwright initiated coverage on Omeros Corporation in a report on Wednesday, November 8th. They set a buy rating and a $30.00 price target on the stock. Maxim Group set a $24.00 price objective on Omeros Corporation and gave the stock a buy rating in a research note on Wednesday, August 2nd. Wedbush reaffirmed an outperform rating and issued a $47.00 price objective on shares of Omeros Corporation in a research note on Friday, August 18th. Cantor Fitzgerald reissued a hold rating and issued a $19.00 price target (up from $15.00) on shares of Omeros Corporation in a research note on Thursday, August 24th. Finally, Cowen and Company lowered Omeros Corporation from an outperform rating to a market perform rating in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $34.14.
Omeros Corporation (NASDAQ OMER) traded down $1.29 on Thursday, hitting $18.52. The stock had a trading volume of 697,797 shares, compared to its average volume of 806,583. Omeros Corporation has a 12 month low of $8.71 and a 12 month high of $27.09. The company has a debt-to-equity ratio of 8.99, a current ratio of 4.77 and a quick ratio of 4.74.
Omeros Corporation (NASDAQ:OMER) last released its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.18. The business had revenue of $21.66 million during the quarter, compared to the consensus estimate of $17.82 million. During the same quarter in the prior year, the firm earned ($0.34) EPS. The business’s revenue was up 91.9% on a year-over-year basis. sell-side analysts predict that Omeros Corporation will post -1.07 EPS for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of OMER. First Interstate Bank purchased a new stake in Omeros Corporation during the 3rd quarter worth about $108,000. Legal & General Group Plc lifted its holdings in Omeros Corporation by 7.8% during the 2nd quarter. Legal & General Group Plc now owns 10,359 shares of the biopharmaceutical company’s stock worth $208,000 after purchasing an additional 751 shares in the last quarter. Hanseatic Management Services Inc. raised its holdings in shares of Omeros Corporation by 10,919.6% in 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 in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Omeros Corporation in the 3rd quarter valued at about $256,000. Finally, SG Americas Securities LLC raised its holdings in shares of Omeros Corporation by 138.9% in 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 in the last quarter. 45.38% 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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