Zacks Investment Research upgraded shares of Omeros (NASDAQ:OMER) from a sell rating to a hold rating in a research report released on Saturday.
According to Zacks, “Omeros Corporation is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation and disorders of the central nervous system. Omeros’ most clinically advanced product candidates are derived from its proprietary PharmacoSurgery(TM) platform designed to improve clinical outcomes of patients undergoing arthroscopic, ophthalmological, urological and other surgical and medical procedures. Omeros has four ongoing PharmacoSurgery(TM) clinical development programs, and its lead product candidate, OMS103HP, is being evaluated in Phase 3 clinical trials for use during arthroscopic surgery to improve postoperative joint function and reduce postoperative pain. Omeros is also building a diverse pipeline of preclinical programs targeting inflammation and central nervous system disorders. “
Other analysts have also recently issued research reports about the stock. Seaport Global Securities began coverage on shares of Omeros in a research note on Thursday, July 12th. They issued a buy rating and a $30.00 target price on the stock. HC Wainwright set a $34.00 target price on shares of Omeros and gave the company a buy rating in a research note on Monday, August 6th. Maxim Group reissued a buy rating and issued a $25.00 target price on shares of Omeros in a research note on Monday, May 7th. BidaskClub raised shares of Omeros from a hold rating to a buy rating in a research note on Friday, August 17th. Finally, ValuEngine raised shares of Omeros from a hold rating to a buy rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $27.56.
Shares of OMER opened at $22.41 on Friday. The stock has a market cap of $1.02 billion, a PE ratio of -28.37 and a beta of 3.76. The company has a debt-to-equity ratio of -2.31, a current ratio of 3.95 and a quick ratio of 3.94. Omeros has a 52 week low of $8.36 and a 52 week high of $25.20.
Omeros (NASDAQ:OMER) last posted its earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.70) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.66) by ($0.04). The company had revenue of $1.70 million for the quarter, compared to analyst estimates of $1.84 million. The firm’s revenue for the quarter was down 90.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. equities analysts predict that Omeros will post -2.42 EPS for the current year.
In other Omeros news, VP Marcia S. Kelbon sold 4,277 shares of the company’s stock in a transaction dated Thursday, July 12th. The shares were sold at an average price of $21.48, for a total transaction of $91,869.96. Following the sale, the vice president now directly owns 188,922 shares of the company’s stock, valued at $4,058,044.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Marcia S. Kelbon sold 40,723 shares of the company’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $21.56, for a total transaction of $877,987.88. Following the sale, the vice president now directly owns 219,645 shares in the company, valued at $4,735,546.20. The disclosure for this sale can be found here. Insiders own 12.10% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Lesa Sroufe & Co bought a new stake in Omeros during the second quarter worth about $310,000. BlackRock Inc. grew its stake in Omeros by 0.9% during the first quarter. BlackRock Inc. now owns 3,965,410 shares of the biopharmaceutical company’s stock worth $44,294,000 after buying an additional 34,832 shares during the last quarter. Principal Financial Group Inc. grew its stake in Omeros by 10.2% during the first quarter. Principal Financial Group Inc. now owns 29,433 shares of the biopharmaceutical company’s stock worth $329,000 after buying an additional 2,723 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in Omeros during the second quarter worth about $1,099,000. Finally, Schwab Charles Investment Management Inc. grew its stake in Omeros by 3.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 222,678 shares of the biopharmaceutical company’s stock worth $2,488,000 after buying an additional 6,800 shares during the last quarter. 45.45% of the stock is currently 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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