Brokerages Set Omeros Corporation (NASDAQ:OMER) Price Target at $40.33

Omeros Corporation (NASDAQ:OMER) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $40.3333.

Several brokerages have commented on OMER. Weiss Ratings lowered Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday. D. Boral Capital reissued a “buy” rating and issued a $36.00 price objective on shares of Omeros in a report on Tuesday, April 21st. HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Omeros in a report on Thursday, May 14th. Zacks Research raised Omeros from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Finally, Wall Street Zen upgraded Omeros from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th.

Insider Buying and Selling at Omeros

In related news, Director Thomas J. Cable sold 7,500 shares of Omeros 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 transaction, the director owned 35,067 shares in the company, valued at approximately $407,127.87. This trade represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Omeros

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its stake in shares of Omeros by 16.0% in the first quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 800 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Omeros by 16.5% in the fourth quarter. Farther Finance Advisors LLC now owns 7,106 shares of the biopharmaceutical company’s stock valued at $122,000 after buying an additional 1,004 shares in the last quarter. State of Wyoming acquired a new position in Omeros during the 4th quarter worth $25,000. AQR Capital Management LLC grew its stake in Omeros by 7.2% during the 4th quarter. AQR Capital Management LLC now owns 22,838 shares of the biopharmaceutical company’s stock worth $392,000 after purchasing an additional 1,532 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in Omeros by 12.1% during the 4th quarter. ProShare Advisors LLC now owns 15,171 shares of the biopharmaceutical company’s stock worth $261,000 after purchasing an additional 1,637 shares in the last quarter. Institutional investors and hedge funds own 48.79% of the company’s stock.

Omeros Stock Performance

Shares of OMER stock opened at $10.16 on Monday. The stock’s 50-day simple moving average is $12.27 and its 200-day simple moving average is $11.82. The firm has a market capitalization of $735.38 million, a PE ratio of 14.51 and a beta of 2.52. Omeros has a fifty-two week low of $2.95 and a fifty-two week high of $17.65.

Omeros (NASDAQ:OMER) last announced 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 firm had revenue of $9.89 million during the quarter, compared to analyst estimates of $4.19 million. Sell-side analysts forecast 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.