Omeros Corporation (NASDAQ:OMER) Receives $40.33 Consensus Price Target from Brokerages

Shares of Omeros Corporation (NASDAQ:OMER) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $38.00.

OMER has been the subject of a number of research analyst reports. HC Wainwright cut their price objective on shares of Omeros from $40.00 to $33.00 and set a “buy” rating for the company in a report on Friday, June 26th. D. Boral Capital reaffirmed a “buy” rating and set a $36.00 price objective on shares of Omeros in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Omeros from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Weiss Ratings lowered shares of Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Finally, Zacks Research raised shares of Omeros from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd.

Insider Activity at Omeros

In related news, Director Thomas J. Cable sold 7,500 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $11.61, for a total value of $87,075.00. Following the completion of the transaction, the director directly owned 35,067 shares of the company’s stock, valued at approximately $407,127.87. This trade represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OMER. Acadian Asset Management LLC purchased a new position in shares of Omeros in the first quarter valued at $357,000. XTX Topco Ltd purchased a new position in shares of Omeros in the second quarter valued at $191,000. Invesco Ltd. grew its holdings in shares of Omeros by 34.1% in the second quarter. Invesco Ltd. now owns 116,688 shares of the biopharmaceutical company’s stock valued at $350,000 after purchasing an additional 29,644 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Omeros by 15.1% in the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company’s stock valued at $2,224,000 after purchasing an additional 97,224 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in shares of Omeros in the second quarter valued at $40,000. 48.79% of the stock is owned by hedge funds and other institutional investors.

Omeros Trading Down 4.0%

Omeros stock opened at $9.51 on Friday. The firm has a 50 day moving average of $11.77 and a 200 day moving average of $11.84. The firm has a market capitalization of $688.33 million, a price-to-earnings ratio of 13.59 and a beta of 2.52. Omeros has a 12-month low of $2.95 and a 12-month 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The company had revenue of $9.89 million for the quarter, compared to analysts’ expectations of $4.19 million. On average, analysts predict that Omeros will post -0.94 EPS for the current year.

Omeros Company Profile

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.