Omeros Corporation (NASDAQ:OMER) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
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 commented on the stock. Wedbush reissued an “outperform” rating and issued a $56.00 price target (down previously from $62.00) on shares of Omeros Corporation in a report on Thursday, August 11th. Cantor Fitzgerald reissued a “buy” rating and issued a $21.00 price target on shares of Omeros Corporation in a report on Wednesday, August 10th. Maxim Group cut their price target on shares of Omeros Corporation from $30.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. FBR & Co reissued an “outperform” rating and issued a $38.00 price target on shares of Omeros Corporation in a report on Wednesday, June 29th. Finally, WBB Securities reissued a “buy” rating and issued a $75.00 price target on shares of Omeros Corporation in a report on Tuesday, June 14th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $35.86.
Shares of Omeros Corporation (NASDAQ:OMER) opened at 7.78 on Wednesday. The company’s market capitalization is $305.70 million. The stock’s 50 day moving average is $10.70 and its 200 day moving average is $11.78. Omeros Corporation has a 52-week low of $7.69 and a 52-week high of $16.80.
Omeros Corporation (NASDAQ:OMER) last released its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.32) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.18. The business had revenue of $10 million for the quarter, compared to the consensus estimate of $9.80 million. During the same period in the prior year, the business posted ($0.44) EPS. Omeros Corporation’s revenue for the quarter was up 212.5% on a year-over-year basis. Equities analysts expect that Omeros Corporation will post ($1.55) EPS for the current year.
In other news, VP Marcia S. Kelbon sold 16,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $10.91, for a total value of $174,560.00. Following the completion of the sale, the vice president now directly owns 179,597 shares of the company’s stock, valued at approximately $1,959,403.27. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Marcia S. Kelbon sold 15,900 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $11.56, for a total transaction of $183,804.00. Following the completion of the sale, the vice president now directly owns 179,497 shares of the company’s stock, valued at $2,074,985.32. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Ingalls & Snyder LLC bought a new stake in Omeros Corporation during the second quarter valued at approximately $46,441,000. Bank of Montreal Can acquired a new position in shares of Omeros Corporation during the second quarter worth about $17,641,000. State Street Corp boosted its position in shares of Omeros Corporation by 16.8% in the second quarter. State Street Corp now owns 881,993 shares of the biopharmaceutical company’s stock worth $9,274,000 after buying an additional 126,595 shares during the period. Chicago Equity Partners LLC acquired a new position in shares of Omeros Corporation during the second quarter worth about $961,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Omeros Corporation during the second quarter worth about $762,000. 47.99% of the stock is owned by hedge funds and other institutional investors.
About Omeros Corporation
Omeros Corporation is a biopharmaceutical company engaged in discovering, developing and commercializing small-molecule and protein therapeutics for market, as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system. The Company’s marketed drug product, Omidria (phenylephrine and ketorolac injection), is used during cataract surgery or intraocular lens replacement.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Omeros Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omeros Corporation and related companies with MarketBeat.com's FREE daily email newsletter.