Omeros Corporation (NASDAQ:OMER) Receives $38.00 Consensus Target Price from Brokerages

Shares of Omeros Corporation (NASDAQ:OMER) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $38.00.

Several research firms recently commented on OMER. HC Wainwright restated a “buy” rating on shares of Omeros in a research report on Monday, July 27th. Weiss Ratings raised Omeros from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded Omeros from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Zacks Research lowered Omeros from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th.

Insider Buying and Selling

In other Omeros news, Director Thomas J. Cable sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 35,067 shares of the company’s stock, valued at $646,986.15. The trade was a 29.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO David J. Borges sold 5,000 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $16.95, for a total transaction of $84,750.00. Following the completion of the transaction, the chief accounting officer directly owned 5,000 shares in the company, valued at $84,750. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.50% of the company’s stock.

Institutional Trading of Omeros

A number of hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in Omeros in the first quarter valued at $357,000. XTX Topco Ltd purchased a new stake in Omeros during the second quarter valued at about $191,000. Invesco Ltd. lifted its stake in Omeros by 34.1% during the second quarter. Invesco Ltd. now owns 116,688 shares of the biopharmaceutical company’s stock worth $350,000 after purchasing an additional 29,644 shares during the last quarter. Marshall Wace LLP lifted its stake in Omeros by 15.1% during the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company’s stock worth $2,224,000 after purchasing an additional 97,224 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in Omeros during the second quarter worth about $40,000. 48.79% of the stock is owned by institutional investors.

Omeros Price Performance

Shares of NASDAQ:OMER opened at $19.27 on Friday. The firm has a fifty day moving average price of $11.73 and a two-hundred day moving average price of $11.76. Omeros has a one year low of $3.94 and a one year high of $19.58. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 15.05 and a beta of 2.54.

Omeros (NASDAQ:OMER) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.29. The firm had revenue of $28.53 million for the quarter, compared to analysts’ expectations of $12.69 million. Equities research analysts expect that Omeros will post -0.37 EPS for the current fiscal year.

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.