Omeros (OMER) Upgraded to Buy by ValuEngine

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Omeros (NASDAQ:OMER) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other research firms have also issued reports on OMER. BidaskClub upgraded Omeros from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 1st. HC Wainwright set a $34.00 price target on Omeros and gave the company a “buy” rating in a research report on Wednesday, August 29th. Zacks Investment Research upgraded Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. Maxim Group restated a “buy” rating and issued a $32.00 price target on shares of Omeros in a research report on Tuesday, August 28th. Finally, Seaport Global Securities assumed coverage on Omeros in a research report on Thursday, July 12th. They issued a “buy” rating and a $30.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $27.56.

Shares of OMER stock traded up $0.53 during trading hours on Friday, reaching $15.86. The company had a trading volume of 784,100 shares, compared to its average volume of 1,027,926. The company has a debt-to-equity ratio of -2.31, a current ratio of 3.95 and a quick ratio of 3.94. The firm has a market capitalization of $750.25 million, a PE ratio of -20.08 and a beta of 3.49. Omeros has a 12-month low of $8.36 and a 12-month high of $27.00.

Omeros (NASDAQ:OMER) last posted its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.04). The firm had revenue of $1.70 million during the quarter, compared to analyst estimates of $1.84 million. Omeros’s quarterly revenue was down 90.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.33) EPS. On average, equities research analysts expect that Omeros will post -2.48 EPS for the current year.

In related news, VP Marcia S. Kelbon sold 7,529 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $25.75, for a total value of $193,871.75. Following the transaction, the vice president now directly owns 227,645 shares in the company, valued at $5,861,858.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Marcia S. Kelbon sold 40,723 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $21.56, for a total value of $877,987.88. Following the completion of the transaction, the vice president now owns 219,645 shares in the company, valued at $4,735,546.20. The disclosure for this sale can be found here. Corporate insiders own 12.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OMER. BlueMountain Capital Management LLC acquired a new position in Omeros in the second quarter valued at approximately $118,000. Quad Cities Investment Group LLC acquired a new position in Omeros in the second quarter valued at approximately $161,000. Belpointe Asset Management LLC acquired a new position in Omeros in the second quarter valued at approximately $204,000. Cubist Systematic Strategies LLC acquired a new position in Omeros in the second quarter valued at approximately $274,000. Finally, Lesa Sroufe & Co acquired a new position in Omeros in the second quarter valued at approximately $310,000. Hedge funds and other institutional investors own 48.14% of the company’s stock.

About Omeros

Omeros Corporation, a biopharmaceutical company, discovers, develops, and commercializes small-molecule and protein therapeutics, and orphan indications targeting inflammation, coagulopathies, and disorders of the central nervous system. The company markets OMIDRIA for use in cataract surgery or intraocular lens replacement in the United States.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Omeros (NASDAQ:OMER)

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