Omeros (NASDAQ:OMER) Given New $33.00 Price Target at HC Wainwright

Omeros (NASDAQ:OMER) had its target price dropped by equities research analysts at HC Wainwright from $40.00 to $33.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 281.37% from the stock’s current price.

A number of other brokerages have also commented on OMER. Wall Street Zen lowered shares of Omeros from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Zacks Research upgraded Omeros from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. D. Boral Capital reaffirmed a “buy” rating and set a $36.00 target price on shares of Omeros in a research report on Tuesday, April 21st. Finally, Weiss Ratings downgraded Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.00.

Omeros Stock Performance

Shares of Omeros stock traded down $2.07 on Friday, hitting $8.65. The stock had a trading volume of 3,963,697 shares, compared to its average volume of 1,569,750. The stock has a 50 day moving average of $11.97 and a 200 day moving average of $11.88. The firm has a market capitalization of $626.30 million, a P/E ratio of 12.42 and a beta of 2.52. Omeros has a twelve month low of $2.95 and a twelve month high of $17.65.

Omeros (NASDAQ:OMER) last posted its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.16. The business had revenue of $9.89 million for the quarter, compared to analyst estimates of $4.19 million. Equities analysts expect that Omeros will post -0.94 earnings per share for the current year.

Insider Activity at Omeros

In related news, Director Thomas J. Cable sold 7,500 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $11.61, for a total value of $87,075.00. Following the transaction, the director directly owned 35,067 shares of the company’s stock, valued at approximately $407,127.87. The trade was a 17.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.50% of the stock is owned by insiders.

Institutional Trading of Omeros

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in Omeros by 57.8% in the first quarter. Bank of America Corp DE now owns 204,805 shares of the biopharmaceutical company’s stock valued at $2,163,000 after acquiring an additional 74,997 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Omeros by 145.4% during the 1st quarter. Quantinno Capital Management LP now owns 61,541 shares of the biopharmaceutical company’s stock worth $650,000 after purchasing an additional 36,467 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Omeros by 85.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 179,594 shares of the biopharmaceutical company’s stock worth $1,897,000 after purchasing an additional 82,646 shares during the period. Assetmark Inc. bought a new stake in shares of Omeros in the 1st quarter worth approximately $38,000. Finally, NFSG Corp lifted its stake in Omeros by 39.1% in the first quarter. NFSG Corp now owns 47,710 shares of the biopharmaceutical company’s stock valued at $504,000 after purchasing an additional 13,400 shares during the last quarter. Institutional investors own 48.79% of the company’s stock.

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.