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

Omeros Corporation (NASDAQ:OMER) has been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $38.00.

A number of brokerages have weighed in on OMER. Weiss Ratings lowered shares of Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. Wall Street Zen cut shares of Omeros from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. HC Wainwright restated a “buy” rating on shares of Omeros in a research note on Monday. D. Boral Capital reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Omeros in a report on Tuesday, April 21st. Finally, Zacks Research lowered shares of Omeros from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th.

Insider Activity

In other news, Director Thomas J. Cable sold 7,500 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $11.61, for a total value of $87,075.00. Following the completion of the transaction, the director directly owned 35,067 shares of the company’s stock, valued at $407,127.87. This trade represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Omeros

A number of hedge funds and other institutional investors have recently made changes to their positions in OMER. International Assets Investment Management LLC lifted its holdings in Omeros by 16.0% during the 1st quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 800 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Omeros by 16.5% during the 4th quarter. Farther Finance Advisors LLC now owns 7,106 shares of the biopharmaceutical company’s stock valued at $122,000 after buying an additional 1,004 shares in the last quarter. State of Wyoming purchased a new position in Omeros during the 4th quarter valued at about $25,000. AQR Capital Management LLC increased its position in shares of Omeros by 7.2% during the fourth quarter. AQR Capital Management LLC now owns 22,838 shares of the biopharmaceutical company’s stock valued at $392,000 after buying an additional 1,532 shares during the period. Finally, ProShare Advisors LLC increased its position in shares of Omeros by 12.1% during the fourth quarter. ProShare Advisors LLC now owns 15,171 shares of the biopharmaceutical company’s stock valued at $261,000 after buying an additional 1,637 shares during the period. 48.79% of the stock is currently owned by institutional investors.

Omeros Price Performance

Shares of OMER opened at $11.34 on Tuesday. Omeros has a 1 year low of $3.43 and a 1 year high of $17.65. The stock’s fifty day moving average price is $10.26 and its two-hundred day moving average price is $11.46. The firm has a market cap of $820.73 million, a PE ratio of 16.20 and a beta of 2.55.

Omeros (NASDAQ:OMER) last posted its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.16. The firm had revenue of $9.89 million for the quarter, compared to the consensus estimate of $4.19 million. Sell-side analysts anticipate that Omeros will post -0.94 earnings per share 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.