Zacks Investment Research upgraded shares of Omeros (NASDAQ:OMER) from a sell rating to a hold rating in a research report report published on Wednesday, June 20th.
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. “
A number of other brokerages have also recently weighed in on OMER. Wedbush reissued a hold rating and issued a $20.00 price target (up from $19.00) on shares of Omeros in a research report on Wednesday, May 16th. ValuEngine upgraded shares of Omeros from a hold rating to a buy rating in a research note on Saturday, May 12th. Maxim Group set a $25.00 target price on shares of Omeros and gave the stock a buy rating in a research report on Sunday, May 13th. HC Wainwright set a $34.00 price target on shares of Omeros and gave the company a buy rating in a report on Friday, May 25th. Finally, BidaskClub raised shares of Omeros from a sell rating to a hold rating in a research note on Wednesday, May 9th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $26.00.
Shares of Omeros opened at $18.14 on Wednesday, according to MarketBeat Ratings. Omeros has a 1 year low of $8.36 and a 1 year high of $25.20. The company has a debt-to-equity ratio of -2.91, a current ratio of 3.19 and a quick ratio of 3.18. The company has a market cap of $882.31 million, a PE ratio of -22.96 and a beta of 3.63.
Omeros (NASDAQ:OMER) last posted its quarterly earnings results on Thursday, May 10th. The biopharmaceutical company reported ($0.62) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.05). The business had revenue of $1.59 million for the quarter, compared to analyst estimates of $2.08 million. The firm’s quarterly revenue was down 87.0% on a year-over-year basis. During the same period last year, the business posted ($0.34) EPS. sell-side analysts expect that Omeros will post -2.38 EPS for the current fiscal year.
In other Omeros news, VP Michael A. Jacobsen sold 23,792 shares of the firm’s stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $23.80, for a total transaction of $566,249.60. Following the transaction, the vice president now owns 19,480 shares of the company’s stock, valued at approximately $463,624. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 12.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN grew its stake in shares of Omeros by 73.4% in the 4th quarter. Wells Fargo & Company MN now owns 73,059 shares of the biopharmaceutical company’s stock worth $1,419,000 after purchasing an additional 30,915 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of Omeros by 9.0% in the fourth quarter. Baird Financial Group Inc. now owns 62,296 shares of the biopharmaceutical company’s stock worth $1,210,000 after acquiring an additional 5,151 shares in the last quarter. State of Wisconsin Investment Board increased its position in shares of Omeros by 93.9% in the fourth quarter. State of Wisconsin Investment Board now owns 44,600 shares of the biopharmaceutical company’s stock worth $867,000 after acquiring an additional 21,600 shares in the last quarter. Capital Analysts LLC boosted its holdings in shares of Omeros by 885.6% during the fourth quarter. Capital Analysts LLC now owns 590,849 shares of the biopharmaceutical company’s stock worth $36,125,000 after purchasing an additional 530,899 shares during the period. Finally, USA Financial Portformulas Corp acquired a new stake in shares of Omeros during the fourth quarter worth approximately $451,000. 46.09% of the stock is currently owned by institutional investors.
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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