HC Wainwright Lowers Omeros (NASDAQ:OMER) Price Target to $33.00

Omeros (NASDAQ:OMER) had its price objective cut by equities research analysts at HC Wainwright from $40.00 to $33.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 281.37% from the company’s previous close.

OMER has been the topic of a number of other reports. Weiss Ratings cut shares of Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Zacks Research raised Omeros from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Wall Street Zen lowered Omeros from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. Finally, D. Boral Capital reiterated a “buy” rating and set a $36.00 target price on shares of Omeros in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.00.

Omeros Stock Performance

NASDAQ OMER traded down $2.07 during trading on Friday, hitting $8.65. The stock had a trading volume of 3,963,697 shares, compared to its average volume of 1,569,750. Omeros has a 12 month low of $2.95 and a 12 month high of $17.65. The company’s 50-day moving average price is $11.97 and its two-hundred day moving average price is $11.88. The company has a market capitalization of $626.30 million, a PE ratio of 12.42 and a beta of 2.52.

Omeros (NASDAQ:OMER) last posted its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The business had revenue of $9.89 million during the quarter, compared to analyst estimates of $4.19 million. As a group, equities analysts anticipate that Omeros will post -0.94 earnings per share for the current fiscal year.

Insider Activity

In other Omeros news, Director Thomas J. Cable sold 7,500 shares of the business’s stock in a transaction that occurred on 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. The trade was a 17.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OMER. Vanguard Group Inc. boosted its stake in shares of Omeros by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company’s stock valued at $68,929,000 after purchasing an additional 666,357 shares in the last quarter. UBS Group AG lifted its stake in Omeros by 213.5% in the 4th quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company’s stock valued at $38,180,000 after purchasing an additional 1,513,893 shares during the last quarter. Geode Capital Management LLC boosted its position in Omeros by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 1,631,350 shares of the biopharmaceutical company’s stock valued at $28,026,000 after buying an additional 95,979 shares in the last quarter. State Street Corp grew its stake in shares of Omeros by 26.9% during the fourth quarter. State Street Corp now owns 1,573,526 shares of the biopharmaceutical company’s stock worth $27,025,000 after buying an additional 333,798 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Omeros by 39.3% during the third quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock worth $3,827,000 after buying an additional 263,095 shares in the last quarter. Institutional investors own 48.79% of the company’s stock.

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.