Omeros’ (OMER) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Omeros (NASDAQ:OMER)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday, Marketbeat reports. They presently have a $22.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 35.80% from the company’s previous close.

OMER has been the subject of a number of other research reports. HC Wainwright restated a “buy” rating on shares of Omeros in a research note on Monday, July 27th. Zacks Research lowered Omeros from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Wall Street Zen upgraded Omeros from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings upgraded Omeros from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Omeros presently has an average rating of “Moderate Buy” and a consensus target price of $30.33.

Omeros Trading Down 13.8%

Shares of Omeros stock traded down $2.59 during trading hours on Wednesday, reaching $16.20. The stock had a trading volume of 3,963,666 shares, compared to its average volume of 1,658,941. The firm has a 50 day simple moving average of $18.41 and a two-hundred day simple moving average of $13.86. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 12.66 and a beta of 2.57. Omeros has a 1 year low of $6.24 and a 1 year high of $21.24.

Omeros (NASDAQ:OMER) last released its quarterly earnings data on Wednesday, August 12th. The biopharmaceutical company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.29. The firm had revenue of $28.53 million during the quarter, compared to analysts’ expectations of $12.69 million. Sell-side analysts forecast that Omeros will post -0.37 EPS for the current year.

Insider Transactions at Omeros

In other news, Director Thomas Cable sold 15,000 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $18.45, for a total value of $276,750.00. Following the sale, the director owned 35,067 shares of the company’s stock, valued at approximately $646,986.15. The trade was a 29.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David Borges sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $20.95, for a total transaction of $209,500.00. Following the sale, the chief accounting officer directly owned 5,000 shares of the company’s stock, valued at approximately $104,750. This represents a 66.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 105,906 shares of company stock worth $1,989,705 over the last 90 days. 10.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Omeros

A number of institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC grew its holdings in shares of Omeros by 16.0% during the first quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 800 shares in the last quarter. GK Wealth Management LLC purchased a new position in shares of Omeros during the third quarter valued at $65,000. Assetmark Inc. purchased a new position in shares of Omeros during the first quarter valued at $38,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Omeros by 4.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 92,403 shares of the biopharmaceutical company’s stock valued at $879,000 after buying an additional 3,835 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Omeros by 4.3% during the second quarter. HighTower Advisors LLC now owns 115,368 shares of the biopharmaceutical company’s stock valued at $1,097,000 after buying an additional 4,738 shares in the last quarter. 48.79% of the stock is owned by institutional investors and hedge funds.

Key Omeros News

Here are the key news stories impacting Omeros this week:

• Positive Sentiment: Cantor Fitzgerald maintained an “Overweight” rating on Omeros, suggesting the analyst sees potential value despite the European setback. Omeros Earns Overweight Rating from Cantor Fitzgerald
• Neutral Sentiment: The European Medicines Agency’s CHMP issued its opinion following a re-examination of Omeros’ original application decision. The opinion is an important regulatory step, but the formal European marketing authorization process may still involve additional review. European Medicines Agency Upholds Negative Opinion
• Negative Sentiment: The CHMP upheld its negative opinion on narsoplimab after re-examination, marking a second rejection of Omeros’ European marketing authorization application. The decision substantially weakens near-term commercialization prospects for the drug in Europe and raises concerns about the company’s ability to generate future revenue from its lead product. Omeros Receives CHMP Negative Opinion Narsoplimab Application Rejected Again
• Negative Sentiment: Omeros’ compassionate-use program for narsoplimab in Europe is also ending, further limiting patient access and potential near-term commercial activity. The stock fell below a closely watched technical support level, adding to selling pressure. Omeros Stock Sinks on Negative EU Opinion

About Omeros

Omeros Corporation (NASDAQ: OMER) is a biopharmaceutical company focused on discovering, developing and commercializing therapies for disorders involving the complement, immune and coagulation systems. The company has also developed a pipeline of investigational therapies aimed at treating serious diseases involving complement activation and immune-system dysfunction. The company is headquartered in Seattle, Washington, and was founded in 1994.

Its leading investigational programs have included narsoplimab, which targets the lectin pathway of the complement system, and OMS906, an antibody designed to inhibit MASP-3 and regulate the alternative pathway.