Brokerages Set Omeros Corporation (NASDAQ:OMER) Target Price at $38.00

Omeros Corporation (NASDAQ:OMER) has been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $38.00.

Several equities research analysts have weighed in on OMER shares. 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 note on Monday, July 13th. Weiss Ratings upgraded Omeros from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, September 3rd. Finally, Wall Street Zen raised Omeros from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th.

Omeros Stock Down 1.7%

OMER stock opened at $18.28 on Wednesday. Omeros has a 52 week low of $3.94 and a 52 week high of $19.65. The business has a 50-day simple moving average of $14.45 and a 200 day simple moving average of $12.53. The company has a market cap of $1.32 billion, a PE ratio of 14.28 and a beta of 2.60.

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

Insiders Place Their Bets

In other news, Director Thomas Cable sold 15,000 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $18.45, for a total value of $276,750.00. Following the completion of the transaction, the director owned 35,067 shares of the company’s stock, valued at approximately $646,986.15. This represents a 29.96% 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. Also, VP Peter Cancelmo sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $18.54, for a total transaction of $463,500.00. Following the completion of the sale, the vice president owned 200 shares in the company, valued at approximately $3,708. The trade was a 99.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 95,906 shares of company stock worth $1,780,205 in the last ninety days. Insiders own 10.50% of the company’s stock.

Institutional Trading of Omeros

A number of hedge funds have recently added to or reduced their stakes in OMER. BlackRock Inc. acquired a new position in shares of Omeros during the second quarter worth $57,484,000. Vanguard Group Inc. boosted its holdings in shares of Omeros by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company’s stock valued at $68,929,000 after acquiring an additional 666,357 shares in the last quarter. Geode Capital Management LLC grew its position in Omeros by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 1,631,350 shares of the biopharmaceutical company’s stock worth $28,026,000 after acquiring an additional 95,979 shares during the last quarter. State Street Corp grew its position in Omeros by 26.9% during the 4th quarter. State Street Corp now owns 1,573,526 shares of the biopharmaceutical company’s stock worth $27,025,000 after acquiring an additional 333,798 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in Omeros by 39.3% in the 3rd quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock worth $3,827,000 after purchasing an additional 263,095 shares in the last quarter. Institutional investors and hedge funds 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.