Omeros (NASDAQ:OMER) received a $34.00 price target from analysts at HC Wainwright in a research note issued to investors on Friday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 69.92% from the stock’s previous close.
The analysts wrote, “We remind investors that, only last year, Omeros announced that it had settled litigation directed to an ANDA filing by Par Sterile Products, LLC and Par Pharmaceutical, Inc. As in the settlement with Par, this agreement with Lupin includes Lupin’s acknowledgment and confirmation of the validity of all asserted patents for OMIDRIA as well as overall terms and market entry date similar to those set forth in the Par agreement—we note that Par has agreed not to launch a generic version of OMIDRIA until the earliest. The expiration date of the last-to-expire of Omeros’ asserted patents for OMIDRIA is October 23, 2033. The litigation against Lupin began in 2017 after Omeros received a Paragraph IV certification from Lupin in connection with Lupin’s filing of an ANDA seeking the FDA’s approval to market a generic version of OMIDRIA.””
OMER has been the topic of a number of other reports. ValuEngine raised shares of Omeros from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Bank of America boosted their price objective on shares of Omeros from $2.44 to $4.00 in a report on Wednesday, February 14th. Maxim Group set a $24.00 price objective on shares of Omeros and gave the company a “buy” rating in a report on Thursday, February 15th. Zacks Investment Research lowered shares of Omeros from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Finally, Cantor Fitzgerald set a $19.00 price objective on shares of Omeros and gave the company a “hold” rating in a report on Thursday, March 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.00.
Shares of Omeros stock traded up $0.17 during trading on Friday, reaching $20.01. 7,856 shares of the stock traded hands, compared to its average volume of 1,477,883. The firm has a market cap of $955.71 million, a price-to-earnings ratio of -25.19 and a beta of 3.60. The company has a quick ratio of 3.18, a current ratio of 3.19 and a debt-to-equity ratio of -2.91. Omeros has a 52-week low of $8.36 and a 52-week high of $27.09.
Omeros (NASDAQ:OMER) last announced its quarterly earnings results on Thursday, May 10th. The biopharmaceutical company reported ($0.62) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.57) by ($0.05). The company had revenue of $1.59 million for the quarter, compared to analysts’ expectations of $2.08 million. During the same period last year, the firm posted ($0.34) earnings per share. The company’s revenue was down 87.0% compared to the same quarter last year. equities analysts expect that Omeros will post -2.38 EPS for the current fiscal year.
In related news, VP Michael A. Jacobsen sold 23,792 shares of the business’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $23.80, for a total transaction of $566,249.60. Following the completion of the transaction, the vice president now directly owns 19,480 shares in the company, valued at $463,624. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Omeros by 0.9% in the first quarter. BlackRock Inc. now owns 3,965,410 shares of the biopharmaceutical company’s stock worth $44,294,000 after acquiring an additional 34,832 shares during the period. Capital Analysts LLC raised its holdings in shares of Omeros by 885.6% in the 4th quarter. Capital Analysts LLC now owns 590,849 shares of the biopharmaceutical company’s stock valued at $36,125,000 after purchasing an additional 530,899 shares in the last quarter. UBS Group AG raised its holdings in shares of Omeros by 9.4% in the 1st quarter. UBS Group AG now owns 397,583 shares of the biopharmaceutical company’s stock valued at $4,441,000 after purchasing an additional 34,290 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Omeros by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 391,649 shares of the biopharmaceutical company’s stock valued at $7,609,000 after purchasing an additional 11,667 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Omeros by 1.9% in the 1st quarter. Stifel Financial Corp now owns 348,726 shares of the biopharmaceutical company’s stock valued at $3,902,000 after purchasing an additional 6,534 shares in the last quarter. Institutional investors own 46.37% of the company’s stock.
Omeros Corporation, a biopharmaceutical company, discovers, develops, and commercializes small-molecule and protein therapeutics, and orphan indications targeting inflammation, coagulopathies, and disorders of the central nervous system. The company markets OMIDRIA for use in cataract surgery or intraocular lens replacement in the United States.
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