Omeros Corporation (NASDAQ:OMER) Stock Has Consensus Target Price of $30.33 According to Brokerages

Shares of Omeros Corporation (NASDAQ:OMER) have received a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $30.33.

A number of analysts have recently weighed in on the stock. Zacks Research lowered shares of Omeros from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Wall Street Zen raised Omeros from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded Omeros from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. HC Wainwright reissued a “buy” rating on shares of Omeros in a report on Monday, July 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $22.00 target price on shares of Omeros in a report on Wednesday, October 14th.

Omeros Price Performance

Shares of OMER stock opened at $18.44 on Thursday. The business has a fifty day moving average of $18.52 and a 200 day moving average of $13.47. Omeros has a 1 year low of $6.24 and a 1 year high of $21.24. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 14.41 and a beta of 2.57.

Omeros (NASDAQ:OMER) last posted its quarterly earnings results on Wednesday, August 12th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.29. The firm had revenue of $28.53 million for the quarter, compared to analysts’ expectations of $12.69 million. As a group, equities research analysts expect that Omeros will post -0.37 earnings per share for the current year.

Insider Activity

In other news, Director Arnold Hanish sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $18.95, for a total transaction of $189,500.00. Following the sale, the director directly owned 5,000 shares in the company, valued at $94,750. This trade represents a 66.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Peter Cancelmo sold 25,000 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $18.54, for a total value of $463,500.00. Following the completion of the transaction, the vice president directly owned 200 shares of the company’s stock, valued at $3,708. The trade was a 99.21% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 105,906 shares of company stock worth $1,989,705. 10.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Omeros

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in Omeros by 85.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 179,594 shares of the biopharmaceutical company’s stock worth $1,897,000 after buying an additional 82,646 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Omeros during the second quarter worth approximately $1,846,000. BlackRock Inc. purchased a new stake in shares of Omeros during the second quarter worth approximately $57,484,000. Corient Private Wealth LP acquired a new position in Omeros in the 2nd quarter valued at $6,274,000. Finally, State Street Corp raised its stake in Omeros by 20.9% in the 2nd quarter. State Street Corp now owns 2,319,906 shares of the biopharmaceutical company’s stock valued at $22,062,000 after purchasing an additional 400,331 shares during the last quarter. 48.79% of the stock is owned by hedge funds and other institutional investors.

Omeros Company Profile

Omeros Corporation (NASDAQ: OMER) is a biopharmaceutical company focused on discovering, developing and commercializing therapies for disorders involving the complement, immune and coagulation systems. The company has also developed a pipeline of investigational therapies aimed at treating serious diseases involving complement activation and immune-system dysfunction. The company is headquartered in Seattle, Washington, and was founded in 1994.

Its leading investigational programs have included narsoplimab, which targets the lectin pathway of the complement system, and OMS906, an antibody designed to inhibit MASP-3 and regulate the alternative pathway.