Omeros (NASDAQ:OMER)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued on Tuesday. They presently have a $34.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 149.63% from the company’s previous close.
The analysts wrote, “Valuation methodology, risks and uncertainties. We currently ascribe a total firm value of roughly $2.3B to Omeros based on OMIDRIA ($820M) and OMS721 ($1.5B). This translates into a target of $34.00 per share, based on 68M fully-diluted shares outstanding as of end-2019. We assume the redemption of the senior convertible notes in full after one year, using proceeds from a follow-on offering of common stock in late 2019.””
Several other research firms have also recently commented on OMER. ValuEngine raised Omeros from a “buy” rating to a “strong-buy” rating in a report on Monday, September 24th. BidaskClub raised Omeros from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 1st. Zacks Investment Research raised Omeros from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. Maxim Group reaffirmed a “buy” rating and set a $32.00 price objective on shares of Omeros in a report on Tuesday, August 28th. Finally, Wedbush set a $20.00 price objective on Omeros and gave the stock a “hold” rating in a report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $27.56.
OMER opened at $13.62 on Tuesday. The company has a market capitalization of $667.51 million, a PE ratio of -17.24 and a beta of 3.90. Omeros has a 12 month low of $8.36 and a 12 month high of $27.00.
Omeros (NASDAQ:OMER) last posted its quarterly earnings results on Friday, November 9th. The biopharmaceutical company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The firm had revenue of $4.61 million during the quarter, compared to analyst estimates of $3.07 million. During the same period in the prior year, the company earned ($0.16) earnings per share. Sell-side analysts anticipate that Omeros will post -2.56 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. BlueMountain Capital Management LLC acquired a new position in Omeros during the second quarter worth $118,000. Brighton Jones LLC purchased a new position in Omeros during the third quarter worth $211,000. Quad Cities Investment Group LLC purchased a new position in Omeros during the second quarter worth $161,000. First Interstate Bank increased its position in Omeros by 100.0% during the third quarter. First Interstate Bank now owns 10,000 shares of the biopharmaceutical company’s stock worth $244,000 after buying an additional 5,000 shares in the last quarter. Finally, Belpointe Asset Management LLC purchased a new position in Omeros during the second quarter worth $204,000. 47.50% of the stock is owned by hedge funds and other institutional investors.
Omeros Company Profile
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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