Omeros (NASDAQ:OMER) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Omeros (NASDAQ:OMER) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

OMER has been the subject of several other reports. D. Boral Capital reiterated a “buy” rating and issued a $36.00 price target on shares of Omeros in a research note on Tuesday, April 21st. HC Wainwright lowered their price objective on Omeros from $40.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Wall Street Zen cut Omeros from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Finally, Weiss Ratings downgraded Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Omeros Stock Up 4.9%

Shares of Omeros stock opened at $10.50 on Monday. The stock has a market capitalization of $759.99 million, a price-to-earnings ratio of 15.00 and a beta of 2.55. Omeros has a twelve month low of $3.34 and a twelve month high of $17.65. The company has a 50-day simple moving average of $10.95 and a two-hundred day simple moving average of $11.84.

Omeros (NASDAQ:OMER) last announced its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. The business had revenue of $9.89 million for the quarter, compared to analyst estimates of $4.19 million. On average, sell-side analysts anticipate that Omeros will post -0.94 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Thomas J. Cable sold 7,500 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $11.61, for a total transaction of $87,075.00. Following the sale, the director owned 35,067 shares in the company, valued at approximately $407,127.87. This trade represents a 17.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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

Several institutional investors have recently added to or reduced their stakes in OMER. UBS Group AG grew its position in Omeros by 213.5% in the fourth quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company’s stock valued at $38,180,000 after acquiring an additional 1,513,893 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Omeros by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company’s stock worth $68,929,000 after acquiring an additional 666,357 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Omeros by 1,201.1% in the third quarter. JPMorgan Chase & Co. now owns 416,153 shares of the biopharmaceutical company’s stock worth $1,706,000 after acquiring an additional 384,168 shares during the last quarter. State Street Corp boosted its stake in shares of Omeros by 26.9% in the 4th quarter. State Street Corp now owns 1,573,526 shares of the biopharmaceutical company’s stock valued at $27,025,000 after purchasing an additional 333,798 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Omeros by 39.3% in the 3rd quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock valued at $3,827,000 after purchasing an additional 263,095 shares in the last quarter. 48.79% of the stock is currently owned by institutional investors and hedge funds.

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.