Omeros (NASDAQ:OMER) Sets New 12-Month High – Still a Buy?

Shares of Omeros Corporation (NASDAQ:OMER) reached a new 52-week high on Friday . The stock traded as high as $17.85 and last traded at $17.2620, with a volume of 129898 shares. The stock had previously closed at $17.17.

Wall Street Analyst Weigh In

Several research firms have commented on OMER. Weiss Ratings reissued a “sell (d-)” rating on shares of Omeros in a research report on Wednesday, October 8th. WBB Securities reissued a “strong-buy” rating and issued a $45.00 target price on shares of Omeros in a report on Wednesday, October 15th. Needham & Company LLC reiterated a “hold” rating on shares of Omeros in a research report on Wednesday, October 15th. Wall Street Zen upgraded shares of Omeros from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, HC Wainwright reiterated a “buy” rating on shares of Omeros in a research report on Wednesday, December 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Omeros presently has an average rating of “Moderate Buy” and an average price target of $33.67.

Omeros Price Performance

The company has a market cap of $1.23 billion, a price-to-earnings ratio of -8.58 and a beta of 2.37. The firm has a 50-day moving average price of $9.79 and a 200 day moving average price of $6.18.

Omeros (NASDAQ:OMER) last issued its quarterly earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.39. On average, equities analysts anticipate that Omeros Corporation will post -3.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Omeros

A number of hedge funds have recently bought and sold shares of OMER. B. Riley Wealth Advisors Inc. purchased a new position in shares of Omeros during the second quarter worth approximately $32,000. Harbour Investments Inc. raised its holdings in shares of Omeros by 46.1% during the second quarter. Harbour Investments Inc. now owns 13,469 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 4,251 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Omeros by 829.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,414 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 11,971 shares during the period. Sei Investments Co. bought a new stake in shares of Omeros during the 2nd quarter valued at $40,000. Finally, Russell Investments Group Ltd. increased its holdings in Omeros by 113.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,695 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 5,677 shares in the last quarter. 48.79% of the stock is owned by hedge funds and other institutional investors.

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.