Omeros (NASDAQ:OMER) Downgraded by Zacks Investment Research

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Omeros (NASDAQ:OMER) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Omeros Corporation is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation and disorders of the central nervous system. Omeros’ most clinically advanced product candidates are derived from its proprietary PharmacoSurgery(TM) platform designed to improve clinical outcomes of patients undergoing arthroscopic, ophthalmological, urological and other surgical and medical procedures. Omeros has four ongoing PharmacoSurgery(TM) clinical development programs, and its lead product candidate, OMS103HP, is being evaluated in Phase 3 clinical trials for use during arthroscopic surgery to improve postoperative joint function and reduce postoperative pain. Omeros is also building a diverse pipeline of preclinical programs targeting inflammation and central nervous system disorders. “

OMER has been the subject of a number of other reports. HC Wainwright set a $55.00 price target on Acer Therapeutics and gave the company a “buy” rating in a report on Tuesday, May 28th. Wedbush set a $19.00 price objective on Symantec and gave the company a “hold” rating in a report on Monday. BidaskClub downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Cantor Fitzgerald reissued a “buy” rating and issued a $71.00 price objective on shares of ExlService in a report on Monday, May 6th. Finally, ValuEngine downgraded Yirendai from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $25.80.

Shares of OMER opened at $15.49 on Wednesday. The company has a 50 day simple moving average of $16.17. Omeros has a 52-week low of $10.30 and a 52-week high of $27.00.

Omeros (NASDAQ:OMER) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.04). The company had revenue of $21.80 million during the quarter, compared to analysts’ expectations of $23.18 million. The firm’s quarterly revenue was up 1271.1% compared to the same quarter last year. During the same period last year, the business earned ($0.62) earnings per share. Equities analysts anticipate that Omeros will post -1.68 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Miramar Capital LLC acquired a new stake in shares of Omeros during the fourth quarter worth $192,000. Quad Cities Investment Group LLC lifted its holdings in shares of Omeros by 28.2% during the first quarter. Quad Cities Investment Group LLC now owns 13,650 shares of the biopharmaceutical company’s stock worth $236,000 after purchasing an additional 3,000 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in shares of Omeros by 49.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,912,244 shares of the biopharmaceutical company’s stock worth $21,303,000 after purchasing an additional 632,840 shares during the period. Legal & General Group Plc lifted its holdings in shares of Omeros by 12.7% during the fourth quarter. Legal & General Group Plc now owns 8,370 shares of the biopharmaceutical company’s stock worth $93,000 after purchasing an additional 945 shares during the period. Finally, Keeley Teton Advisors LLC lifted its holdings in shares of Omeros by 32.3% during the first quarter. Keeley Teton Advisors LLC now owns 17,201 shares of the biopharmaceutical company’s stock worth $299,000 after purchasing an additional 4,200 shares during the period. 52.12% of the stock is owned by institutional investors and hedge funds.

About Omeros

Omeros Corporation, a biopharmaceutical company, discovers, develops, and commercializes small-molecule and protein therapeutics, and orphan indications targeting inflammation, complement-mediated diseases, disorders of the central nervous system (CNS), and immune-related diseases. It provides OMIDRIA for use in cataract surgery or intraocular lens replacement in the United States.

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