Omeros Corporation (NASDAQ:OMER) Stock Has Average Target Price of $34.00

Omeros Corporation (NASDAQ:OMER) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $34.00.

Several equities analysts have weighed in on OMER shares. Wall Street Zen raised Omeros from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. HC Wainwright reissued a “buy” rating on shares of Omeros in a research report on Monday, July 27th. Weiss Ratings lowered shares of Omeros from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, September 22nd. Zacks Research downgraded shares of Omeros from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Cantor Fitzgerald upgraded shares of Omeros from a “neutral” rating to an “overweight” rating and set a $22.00 target price on the stock in a report on Tuesday, September 22nd.

Omeros Stock Down 2.1%

NASDAQ:OMER opened at $18.51 on Friday. Omeros has a 52 week low of $4.05 and a 52 week high of $21.24. The stock’s fifty day moving average is $17.42 and its two-hundred day moving average is $13.42. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 14.46 and a beta of 2.57.

Omeros (NASDAQ:OMER) last issued its quarterly earnings data on Wednesday, August 12th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.29. The firm had revenue of $28.53 million during the quarter, compared to analyst estimates of $12.69 million. On average, sell-side analysts expect that Omeros will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling at Omeros

In other news, Director Arnold Hanish sold 10,000 shares of the company’s stock in a transaction on 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 owned 5,000 shares of the company’s stock, valued at approximately $94,750. This represents a 66.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Cable sold 15,000 shares of the 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 completion of the sale, the director owned 35,067 shares in the company, valued at approximately $646,986.15. The trade was a 29.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 105,906 shares of company stock worth $1,989,705. 10.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Omeros

A number of hedge funds have recently bought and sold shares of OMER. BlackRock Inc. purchased a new position in Omeros in the second quarter worth approximately $57,484,000. Corient Private Wealth LP purchased a new stake in shares of Omeros in the 2nd quarter valued at approximately $6,274,000. State Street Corp increased its position in shares of 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. Bank of New York Mellon Corp purchased a new stake in shares of Omeros in the 2nd quarter valued at approximately $1,864,000. Finally, Bank of America Corp DE acquired a new stake in shares of Omeros in the 2nd quarter valued at $1,846,000. Institutional investors and hedge funds own 48.79% of the company’s stock.

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.