Omeros Corporation (NASDAQ:OMER) Receives $38.00 Consensus PT from Analysts

Shares of Omeros Corporation (NASDAQ:OMER) have been given an average rating of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $38.00.

A number of research firms have recently weighed in on OMER. Wall Street Zen raised Omeros from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Zacks Research lowered shares of Omeros from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of Omeros from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, September 3rd. Finally, HC Wainwright reissued a “buy” rating on shares of Omeros in a report on Monday, July 27th.

Insider Activity at Omeros

In other Omeros news, Director Thomas Cable sold 15,000 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $18.45, for a total value of $276,750.00. Following the sale, the director owned 35,067 shares in the company, valued at $646,986.15. The trade was a 29.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arnold Hanish sold 10,000 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $18.95, for a total transaction of $189,500.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $94,750. This trade represents a 66.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 95,906 shares of company stock valued at $1,780,205. 10.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Omeros

Several institutional investors have recently added to or reduced their stakes in OMER. State of Wyoming purchased a new stake in shares of Omeros during the 4th quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Omeros in the fourth quarter worth $33,000. Assetmark Inc. bought a new stake in Omeros in the first quarter worth $38,000. Arax Advisory Partners raised its stake in Omeros by 56.4% during the fourth quarter. Arax Advisory Partners now owns 5,255 shares of the biopharmaceutical company’s stock valued at $90,000 after purchasing an additional 1,894 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in Omeros by 16.0% during the first quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 48.79% of the company’s stock.

Omeros Price Performance

OMER stock opened at $18.28 on Wednesday. The business’s 50-day moving average price is $14.45 and its 200-day moving average price is $12.54. The stock has a market cap of $1.32 billion, a P/E ratio of 14.28 and a beta of 2.60. Omeros has a twelve month low of $3.94 and a twelve month high of $19.65.

Omeros (NASDAQ:OMER) last released its earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.29. The firm had revenue of $28.53 million during the quarter, compared to analysts’ expectations of $12.69 million. On average, equities research analysts expect that Omeros will post -0.37 earnings per share for the current fiscal year.

About Omeros

Omeros Corporation is a biopharmaceutical company focused on discovering, developing and commercializing therapies for diseases involving the complement system, immune system and inflammation. The company is headquartered in Seattle, Washington, and was founded in 1994 by Gregory A. Demopulos, M.D., who serves as its chairman and chief executive officer.

Omeros’ marketed product, OMIDRIA, is an ophthalmic solution containing phenylephrine and ketorolac. It is used during cataract surgery and other lens replacement procedures to help maintain pupil size and reduce postoperative pain and inflammation.