Omeros Corporation (NASDAQ:OMER) Receives $38.00 Consensus Price Target from Analysts

Shares of Omeros Corporation (NASDAQ:OMER) have earned an average rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $38.00.

A number of brokerages have recently issued reports on OMER. Weiss Ratings upgraded shares of Omeros from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 5th. D. Boral Capital reissued a “buy” rating and issued a $36.00 price target on shares of Omeros in a report on Tuesday, April 21st. HC Wainwright restated a “buy” rating on shares of Omeros in a research report on Monday, July 27th. Zacks Research cut Omeros from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Wall Street Zen upgraded Omeros from a “hold” rating to a “buy” rating in a report on Saturday.

Omeros Stock Up 1.0%

Shares of NASDAQ OMER opened at $17.36 on Friday. The firm’s 50-day simple moving average is $11.04 and its 200 day simple moving average is $11.58. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 13.56 and a beta of 2.54. Omeros has a 12-month low of $3.94 and a 12-month high of $18.14.

Omeros (NASDAQ:OMER) last issued its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.29. The company had revenue of $28.53 million for the quarter, compared to the consensus estimate of $12.69 million. On average, equities analysts expect that Omeros will post -0.37 earnings per share for the current year.

Insider Transactions at Omeros

In other Omeros news, CAO David J. Borges sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $16.95, for a total transaction of $84,750.00. Following the transaction, the chief accounting officer directly owned 5,000 shares in the company, valued at approximately $84,750. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas J. Cable sold 7,500 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $11.61, for a total transaction of $87,075.00. Following the completion of the transaction, the director directly owned 35,067 shares in the company, valued at $407,127.87. This trade represents a 17.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Omeros

A number of hedge funds and other institutional investors have recently bought and sold shares of OMER. Acadian Asset Management LLC bought a new stake in shares of Omeros during the 1st quarter valued at $357,000. XTX Topco Ltd bought a new position in shares of Omeros in the 2nd quarter worth $191,000. Invesco Ltd. boosted its position in shares of Omeros by 34.1% in the 2nd quarter. Invesco Ltd. now owns 116,688 shares of the biopharmaceutical company’s stock worth $350,000 after purchasing an additional 29,644 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Omeros by 15.1% during the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company’s stock worth $2,224,000 after purchasing an additional 97,224 shares during the period. Finally, Sei Investments Co. acquired a new stake in shares of Omeros during the second quarter worth $40,000. 48.79% of the stock is owned by institutional investors.

About Omeros

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.