Omeros (NASDAQ:OMER) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
Several other research firms have also recently weighed in on OMER. Maxim Group set a $25.00 price objective on Omeros and gave the stock a “buy” rating in a research report on Sunday, May 13th. Bank of America raised their price target on Omeros from $2.44 to $4.00 in a research report on Wednesday, February 14th. ValuEngine cut Omeros from a “hold” rating to a “sell” rating in a research report on Wednesday, February 14th. Needham & Company LLC cut Omeros from a “buy” rating to a “hold” rating and set a $9.01 price target on the stock. in a research report on Friday, March 2nd. Finally, Wedbush restated a “hold” rating and issued a $20.00 price target (up previously from $19.00) on shares of Omeros in a research report on Wednesday, May 16th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Omeros currently has an average rating of “Hold” and a consensus target price of $26.00.
Omeros (NASDAQ:OMER) last posted its quarterly earnings data on Thursday, May 10th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.05). The business had revenue of $1.59 million during the quarter, compared to analysts’ expectations of $2.08 million. Omeros’s revenue for the quarter was down 87.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.34) EPS. equities analysts expect that Omeros will post -2.38 EPS for the current fiscal year.
In related news, VP Michael A. Jacobsen sold 23,792 shares of the firm’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $23.80, for a total value of $566,249.60. Following the transaction, the vice president now owns 19,480 shares in the company, valued at $463,624. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.10% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Claraphi Advisory Network LLC acquired a new stake in Omeros in the first quarter valued at about $134,000. Cypress Capital Group acquired a new stake in Omeros in the fourth quarter valued at about $194,000. DekaBank Deutsche Girozentrale acquired a new stake in Omeros in the first quarter valued at about $229,000. Teacher Retirement System of Texas acquired a new stake in Omeros in the fourth quarter valued at about $297,000. Finally, Ellington Management Group LLC acquired a new stake in Omeros in the fourth quarter valued at about $301,000. 46.09% of the stock is currently owned by institutional investors and hedge funds.
Omeros Company Profile
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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