Zacks Investment Research downgraded shares of Omeros Corporation (NASDAQ:OMER) from a hold rating to a sell rating in a research note released on Wednesday morning.
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 analysts have also weighed in on the company. Cantor Fitzgerald reiterated a buy rating and issued a $21.00 price objective on shares of Omeros Corporation in a research report on Wednesday, August 10th. FBR & Co reiterated an outperform rating and issued a $38.00 price objective on shares of Omeros Corporation in a research report on Wednesday, June 29th. Maxim Group lowered their price objective on Omeros Corporation from $30.00 to $19.00 and set a buy rating for the company in a research report on Wednesday, August 10th. WBB Securities reiterated a buy rating and issued a $75.00 price objective on shares of Omeros Corporation in a research report on Tuesday, June 14th. Finally, Wedbush reiterated an outperform rating and issued a $56.00 price objective (down from $62.00) on shares of Omeros Corporation in a research report on Thursday, August 11th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $35.86.
Shares of Omeros Corporation (NASDAQ:OMER) traded up 8.17% on Wednesday, hitting $7.94. The stock had a trading volume of 2,049,996 shares. The stock has a 50 day moving average of $10.60 and a 200 day moving average of $11.73. The firm’s market cap is $311.99 million. Omeros Corporation has a 12-month low of $7.26 and a 12-month high of $16.80.
Omeros Corporation (NASDAQ:OMER) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.18. The business earned $10 million during the quarter, compared to analysts’ expectations of $9.80 million. The company’s revenue was up 212.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.44) earnings per share. Equities analysts predict that Omeros Corporation will post ($1.55) earnings per share for the current fiscal year.
In other news, VP Marcia S. Kelbon sold 16,000 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $10.91, for a total value of $174,560.00. Following the sale, the vice president now directly owns 179,597 shares in the company, valued at $1,959,403.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Marcia S. Kelbon sold 15,900 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $11.56, for a total value of $183,804.00. Following the completion of the sale, the vice president now owns 179,497 shares in the company, valued at $2,074,985.32. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. BlackRock Fund Advisors boosted its stake in shares of Omeros Corporation by 0.7% in the first quarter. BlackRock Fund Advisors now owns 1,471,968 shares of the biopharmaceutical company’s stock valued at $22,580,000 after buying an additional 10,605 shares during the last quarter. UBS Group AG boosted its stake in shares of Omeros Corporation by 0.8% in the first quarter. UBS Group AG now owns 333,744 shares of the biopharmaceutical company’s stock valued at $5,120,000 after buying an additional 2,631 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Omeros Corporation during the second quarter valued at about $17,641,000. Chicago Equity Partners LLC bought a new stake in shares of Omeros Corporation during the second quarter valued at about $961,000. Finally, Bourgeon Capital Management LLC bought a new stake in shares of Omeros Corporation during the second quarter valued at about $158,000. Institutional investors and hedge funds own 48.04% of the company’s stock.
About Omeros Corporation
Omeros Corporation is a biopharmaceutical company engaged in discovering, developing and commercializing small-molecule and protein therapeutics for market, as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system. The Company’s marketed drug product, Omidria (phenylephrine and ketorolac injection), is used during cataract surgery or intraocular lens replacement.