Zacks Investment Research Downgrades Omeros (OMER) to Sell
Zacks Investment Research lowered shares of Omeros (NASDAQ:OMER) from a hold rating to a sell rating in a report published on Thursday 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 equities analysts have also issued reports on OMER. Cowen lowered Omeros from an outperform rating to a market perform rating in a research note on Thursday, November 2nd. Maxim Group reissued a buy rating and issued a $24.00 price target on shares of Omeros in a research note on Monday, November 6th. HC Wainwright started coverage on Omeros in a research note on Wednesday, November 8th. They issued a buy rating and a $30.00 price target on the stock. Wedbush reissued an outperform rating and issued a $47.00 price target on shares of Omeros in a research note on Tuesday, November 28th. Finally, ValuEngine raised Omeros from a sell rating to a hold rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and an average target price of $28.75.
Omeros (NASDAQ:OMER) last posted its quarterly earnings data on Thursday, March 1st. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.03). The company had revenue of $13.76 million during the quarter, compared to the consensus estimate of $21.94 million. Omeros’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.45) earnings per share. analysts predict that Omeros will post -0.65 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. State Street Corp grew its holdings in Omeros by 7.3% during the second quarter. State Street Corp now owns 987,057 shares of the biopharmaceutical company’s stock worth $19,652,000 after buying an additional 66,827 shares in the last quarter. EAM Investors LLC boosted its position in Omeros by 30.4% in the third quarter. EAM Investors LLC now owns 202,025 shares of the biopharmaceutical company’s stock worth $4,368,000 after purchasing an additional 47,146 shares during the last quarter. Chicago Equity Partners LLC boosted its position in Omeros by 268.3% in the third quarter. Chicago Equity Partners LLC now owns 195,875 shares of the biopharmaceutical company’s stock worth $4,235,000 after purchasing an additional 142,695 shares during the last quarter. Ingalls & Snyder LLC boosted its position in Omeros by 3.4% in the fourth quarter. Ingalls & Snyder LLC now owns 5,335,239 shares of the biopharmaceutical company’s stock worth $103,664,000 after purchasing an additional 174,204 shares during the last quarter. Finally, Swiss National Bank boosted its position in Omeros by 11.9% in the third quarter. Swiss National Bank now owns 75,100 shares of the biopharmaceutical company’s stock worth $1,624,000 after purchasing an additional 8,000 shares during the last quarter. Institutional investors and hedge funds own 48.77% of the company’s stock.
Omeros Corporation is a biopharmaceutical company. The Company is engaged in discovering, developing and commercializing small-molecule and protein therapeutics for large-market, as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system. Its marketed drug product, Omidria (phenylephrine and ketorolac injection), is used during cataract surgery or intraocular lens (IOL) replacement.
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