Omeros (NASDAQ:OMER) Stock Rating Lowered by Zacks Research

Omeros (NASDAQ:OMER) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

OMER has been the subject of a number of other reports. HC Wainwright reduced their price objective on shares of Omeros from $40.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, June 26th. Wall Street Zen lowered Omeros from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. D. Boral Capital restated a “buy” rating and set a $36.00 price target on shares of Omeros in a report on Tuesday, April 21st. Finally, Weiss Ratings lowered Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.00.

Omeros Stock Performance

NASDAQ OMER opened at $10.50 on Monday. Omeros has a 1 year low of $3.34 and a 1 year high of $17.65. The business’s fifty day moving average is $10.95 and its two-hundred day moving average is $11.84. The stock has a market capitalization of $759.99 million, a P/E ratio of 15.00 and a beta of 2.55.

Omeros (NASDAQ:OMER) last released its quarterly earnings data 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 company had revenue of $9.89 million for the quarter, compared to the consensus estimate of $4.19 million. On average, research analysts forecast that Omeros will post -0.94 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Thomas J. Cable sold 7,500 shares of Omeros stock in a transaction dated 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 sale, the director directly owned 35,067 shares in the company, valued at $407,127.87. This trade represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Omeros

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings 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 acquiring an additional 666,357 shares in the last quarter. UBS Group AG boosted its position in shares of Omeros by 213.5% in the fourth quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company’s stock valued at $38,180,000 after acquiring an additional 1,513,893 shares during the period. Geode Capital Management LLC grew its position in shares of Omeros by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 1,631,350 shares of the biopharmaceutical company’s stock worth $28,026,000 after purchasing an additional 95,979 shares in the last quarter. State Street Corp grew its position in 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 in the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Omeros by 39.3% in the third quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock worth $3,827,000 after purchasing an additional 263,095 shares during the period. 48.79% of the stock is currently owned by institutional investors and hedge funds.

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.