Zacks: Brokerages Expect Omeros Co. (NASDAQ:OMER) Will Post Quarterly Sales of $29.31 Million

Wall Street analysts expect that Omeros Co. (NASDAQ:OMER) will report sales of $29.31 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Omeros’ earnings, with the lowest sales estimate coming in at $29.11 million and the highest estimate coming in at $29.50 million. Omeros posted sales of $26.11 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.3%. The company is expected to announce its next quarterly earnings report on Monday, November 8th.

On average, analysts expect that Omeros will report full year sales of $110.46 million for the current fiscal year, with estimates ranging from $109.71 million to $111.20 million. For the next year, analysts anticipate that the company will post sales of $122.87 million, with estimates ranging from $121.50 million to $124.24 million. Zacks’ sales averages are an average based on a survey of research firms that cover Omeros.

Omeros (NASDAQ:OMER) last released its quarterly earnings results on Sunday, August 8th. The biopharmaceutical company reported ($0.46) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.50) by $0.04. The company had revenue of $28.82 million during the quarter, compared to analysts’ expectations of $25.95 million.

A number of equities research analysts have recently issued reports on OMER shares. Wedbush cut shares of Omeros from a “neutral” rating to an “underperform” rating and set a $5.00 price objective for the company. in a research note on Friday, October 1st. Maxim Group cut shares of Omeros from a “buy” rating to a “hold” rating in a research note on Friday, October 1st. WBB Securities upped their price objective on shares of Omeros from $75.00 to $100.00 and gave the company a “strong-buy” rating in a research note on Friday, June 18th. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective (down previously from $32.00) on shares of Omeros in a research note on Wednesday, October 6th. Finally, JPMorgan Chase & Co. cut shares of Omeros from a “neutral” rating to an “underweight” rating in a research note on Friday, October 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $28.38.

A number of large investors have recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV raised its holdings in Omeros by 32.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 6,750 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 1,650 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in Omeros by 4.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 31,177 shares of the biopharmaceutical company’s stock valued at $463,000 after buying an additional 1,340 shares during the last quarter. Morgan Stanley raised its holdings in Omeros by 23.0% during the 2nd quarter. Morgan Stanley now owns 325,154 shares of the biopharmaceutical company’s stock valued at $4,825,000 after buying an additional 60,823 shares during the last quarter. Invesco Ltd. raised its holdings in Omeros by 61.3% during the 2nd quarter. Invesco Ltd. now owns 24,428 shares of the biopharmaceutical company’s stock valued at $363,000 after buying an additional 9,282 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY raised its holdings in Omeros by 105,466.7% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 19,002 shares of the biopharmaceutical company’s stock valued at $282,000 after buying an additional 18,984 shares during the last quarter. Institutional investors own 51.84% of the company’s stock.

OMER stock traded up $0.26 during midday trading on Wednesday, reaching $7.38. The company had a trading volume of 927,872 shares, compared to its average volume of 698,500. Omeros has a 1 year low of $6.51 and a 1 year high of $23.85. The company has a market capitalization of $461.22 million, a P/E ratio of -3.22 and a beta of 1.12. The firm has a 50-day moving average price of $13.85 and a 200-day moving average price of $15.38.

Omeros Company Profile

Omeros Corp. operates as a biopharmaceutical company. The firm engages in the discovery, development, and commercializing of both small-molecule and protein therapeutics for large market. It also offers orphan indications targeting inflammation, coagulopathies, and disorders of the central nervous system.

See Also: Trading Stocks – What are percentage gainers?

Get a free copy of the Zacks research report on Omeros (OMER)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Omeros (NASDAQ:OMER)

Receive News & Ratings for Omeros Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omeros and related companies with MarketBeat.com's FREE daily email newsletter.