Omeros (NASDAQ:OMER) Trading Up 10.3% on Analyst Upgrade

Omeros Corporation (NASDAQ:OMER)’s share price shot up 10.3% during trading on Thursday after HC Wainwright raised their price target on the stock from $20.00 to $40.00. HC Wainwright currently has a buy rating on the stock. Omeros traded as high as $16.14 and last traded at $15.5370. 1,719,310 shares were traded during mid-day trading, a decline of 49% from the average session volume of 3,342,679 shares. The stock had previously closed at $14.09.

Several other research analysts have also issued reports on OMER. Needham & Company LLC restated a “hold” rating on shares of Omeros in a report on Wednesday, October 15th. WBB Securities reiterated a “strong-buy” rating and set a $45.00 price objective on shares of Omeros in a research report on Wednesday, October 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Omeros in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Omeros from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Finally, D. Boral Capital reissued a “buy” rating and issued a $36.00 price objective on shares of Omeros in a research report on Wednesday, December 24th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.33.

Institutional Trading of Omeros

Several large investors have recently made changes to their positions in OMER. Russell Investments Group Ltd. raised its stake in Omeros by 113.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,695 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 5,677 shares during the period. Trexquant Investment LP bought a new stake in shares of Omeros during the first quarter valued at approximately $88,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Omeros during the second quarter worth approximately $32,000. Tower Research Capital LLC TRC raised its position in shares of Omeros by 829.6% during the second quarter. Tower Research Capital LLC TRC now owns 13,414 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 11,971 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Omeros in the 2nd quarter worth $40,000. 48.79% of the stock is currently owned by institutional investors and hedge funds.

Omeros Trading Up 9.9%

The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -7.66 and a beta of 2.38. The firm’s 50-day moving average is $10.36 and its 200-day moving average is $6.52.

Omeros (NASDAQ:OMER) last released its quarterly earnings data on Thursday, November 13th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.39. Analysts forecast that Omeros Corporation will post -3.09 EPS for the current fiscal year.

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.