Omeros Corporation (NASDAQ:OMER) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Omeros Corporation (NASDAQ:OMER) has earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $34.00.

Several brokerages have recently weighed in on OMER. HC Wainwright reiterated a “buy” rating on shares of Omeros in a research report on Monday, July 27th. Zacks Research cut shares of Omeros from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings raised shares of Omeros from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. Cantor Fitzgerald upgraded shares of Omeros from a “neutral” rating to an “overweight” rating and set a $22.00 price target for the company in a research note on Tuesday, September 22nd. Finally, Wall Street Zen raised Omeros from a “hold” rating to a “buy” rating in a report on Saturday, August 15th.

Omeros Price Performance

Shares of OMER stock opened at $19.83 on Friday. The stock has a market cap of $1.44 billion, a P/E ratio of 15.49 and a beta of 2.57. Omeros has a one year low of $4.05 and a one year high of $21.24. The stock has a fifty day moving average price of $17.86 and a 200 day moving average price of $13.58.

Omeros (NASDAQ:OMER) last posted its quarterly earnings results on Wednesday, August 12th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.29. The business had revenue of $28.53 million for the quarter, compared to analyst estimates of $12.69 million. Equities research analysts anticipate that Omeros will post -0.37 EPS for the current year.

Insider Buying and Selling

In related news, Director Thomas J. Cable sold 15,000 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $18.45, for a total value of $276,750.00. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Peter B. Cancelmo sold 25,000 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $18.54, for a total value of $463,500.00. Following the completion of the sale, the vice president directly owned 200 shares in the company, valued at approximately $3,708. This represents a 99.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 105,906 shares of company stock valued at $1,989,705. 10.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of OMER. GK Wealth Management LLC bought a new position in shares of Omeros during the third quarter valued at $65,000. State Street Corp grew its holdings in shares of Omeros by 20.9% in the 2nd quarter. State Street Corp now owns 2,319,906 shares of the biopharmaceutical company’s stock worth $22,062,000 after purchasing an additional 400,331 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Omeros in the 2nd quarter worth about $138,000. Squarepoint Ops LLC bought a new stake in shares of Omeros in the 2nd quarter worth about $523,000. Finally, Arizona State Retirement System acquired a new stake in shares of Omeros during the 2nd quarter worth about $179,000. 48.79% of the stock is currently owned by institutional investors and hedge funds.

Omeros Company Profile

Omeros Corporation (NASDAQ: OMER) is a biopharmaceutical company focused on discovering, developing and commercializing therapies for disorders involving the complement, immune and coagulation systems. The company has also developed a pipeline of investigational therapies aimed at treating serious diseases involving complement activation and immune-system dysfunction. The company is headquartered in Seattle, Washington, and was founded in 1994.

Its leading investigational programs have included narsoplimab, which targets the lectin pathway of the complement system, and OMS906, an antibody designed to inhibit MASP-3 and regulate the alternative pathway.