Omeros (NASDAQ:OMER) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Omeros (NASDAQ:OMER) from a hold rating to a buy rating in a research note issued to investors on Saturday.

OMER has been the topic of a number of other reports. D. Boral Capital reaffirmed a “buy” rating and issued a $36.00 price target on shares of Omeros in a research note on Tuesday, April 21st. HC Wainwright reissued a “buy” rating on shares of Omeros in a research report on Monday, July 27th. Zacks Research downgraded Omeros from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Weiss Ratings raised Omeros from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Omeros currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Omeros Stock Performance

Shares of OMER opened at $17.36 on Friday. The company’s 50 day moving average price is $11.04 and its 200 day moving average price is $11.58. Omeros has a 52 week low of $3.94 and a 52 week high of $18.14. The company has a market capitalization of $1.26 billion, a PE ratio of 13.56 and a beta of 2.54.

Omeros (NASDAQ:OMER) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.29. The company had revenue of $28.53 million during the quarter, compared to analyst estimates of $12.69 million. On average, equities analysts forecast that Omeros will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Omeros

In related news, CAO David J. Borges sold 5,000 shares of Omeros stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $16.95, for a total value of $84,750.00. Following the completion of the sale, the chief accounting officer owned 5,000 shares of the company’s stock, valued at approximately $84,750. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas J. Cable sold 7,500 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $11.61, for a total transaction of $87,075.00. Following the completion of the sale, the director owned 35,067 shares of the company’s stock, valued at $407,127.87. This represents a 17.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Omeros

Institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LP bought a new position in Omeros during the second quarter valued at about $6,274,000. Bank of America Corp DE bought a new stake in shares of Omeros during the 2nd quarter worth about $1,846,000. Jupiter Topco LLC bought a new stake in shares of Omeros during the 2nd quarter worth about $290,000. Ancora Advisors LLC acquired a new position in shares of Omeros during the 2nd quarter valued at about $1,605,000. Finally, Legal & General Group Plc acquired a new position in shares of Omeros during the 2nd quarter valued at about $425,000. 48.79% of the stock is currently owned by institutional investors.

About Omeros

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.