HC Wainwright Reiterates Buy Rating for Omeros (NASDAQ:OMER)

Omeros (NASDAQ:OMER)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $40.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target would suggest a potential upside of 301.20% from the stock’s previous close.

Several other analysts have also issued reports on OMER. Wall Street Zen lowered Omeros from a “buy” rating to a “hold” rating in a report on Sunday. Zacks Research raised shares of Omeros from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. D. Boral Capital restated a “buy” rating and issued a $36.00 target price on shares of Omeros in a research report on Tuesday, April 21st. Finally, Weiss Ratings downgraded shares of Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.33.

Omeros Trading Up 1.2%

Shares of NASDAQ OMER opened at $9.97 on Wednesday. The firm has a market cap of $721.63 million, a P/E ratio of 14.24 and a beta of 2.52. The business’s 50 day moving average is $12.25 and its 200-day moving average is $11.86. Omeros has a 1-year low of $2.95 and a 1-year high of $17.65.

Omeros (NASDAQ:OMER) last issued its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The firm had revenue of $9.89 million during the quarter, compared to analyst estimates of $4.19 million. Analysts forecast that Omeros will post -0.94 EPS for the current year.

Insider Buying and Selling

In other news, Director Thomas J. Cable sold 7,500 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $11.61, for a total value of $87,075.00. Following the completion of the transaction, the director owned 35,067 shares of the company’s stock, valued at approximately $407,127.87. This represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Omeros

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG grew its stake in shares of Omeros by 213.5% during the fourth quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company’s stock worth $38,180,000 after buying an additional 1,513,893 shares during the last quarter. Vanguard Group Inc. raised its position in Omeros by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company’s stock worth $68,929,000 after purchasing an additional 666,357 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Omeros by 1,201.1% in the third quarter. JPMorgan Chase & Co. now owns 416,153 shares of the biopharmaceutical company’s stock worth $1,706,000 after acquiring an additional 384,168 shares during the period. State Street Corp boosted its holdings in Omeros by 26.9% in the fourth quarter. State Street Corp now owns 1,573,526 shares of the biopharmaceutical company’s stock valued at $27,025,000 after acquiring an additional 333,798 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Omeros by 39.3% in the third quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock valued at $3,827,000 after acquiring an additional 263,095 shares during the last quarter. Institutional investors own 48.79% of the company’s stock.

Omeros Company Profile

Omeros Corporation is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of small-molecule and protein therapeutics. The company’s research programs target inflammation, complement-mediated diseases and disorders of the central nervous system. Omeros’s portfolio encompasses both internally discovered molecules and biologics, reflecting its commitment to advancing treatments for conditions with high unmet medical need.

Omeros’s first FDA-approved product, Omidria® (phenylephrine and ketorolac intraocular solution), is indicated to maintain pupil size by preventing intraoperative miosis and reducing postoperative pain in patients undergoing cataract surgery.