Omeros Corporation (NASDAQ:OMER) Stock Has Consensus Target Price of $34.00

Key Points

• Analysts give Omeros a “Moderate Buy” consensus, with three buy ratings, one strong-buy rating and three holds. The average 12-month price target is $34.00, well above the reported share price of $18.61.
• Omeros reported quarterly EPS of $0.02, beating the consensus estimate of a $0.27 loss, while revenue of $28.53 million exceeded the $12.69 million estimate.
• Institutional ownership stands at 48.79%, with major investors including BlackRock and State Street increasing or establishing positions; meanwhile, insiders sold 105,906 shares worth nearly $2.0 million over the last quarter.

Shares of Omeros Corporation (NASDAQ:OMER - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seven analysts that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $34.00.

Several research analysts recently issued reports on OMER shares. HC Wainwright reaffirmed a "buy" rating on shares of Omeros in a research report on Monday, July 27th. Zacks Research cut Omeros from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Weiss Ratings downgraded Omeros from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, September 22nd. Wall Street Zen raised Omeros from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Finally, Cantor Fitzgerald upgraded Omeros from a "neutral" rating to an "overweight" rating and set a $22.00 target price on the stock in a report on Tuesday, September 22nd.

Insider Activity

In other news, CAO David Borges sold 10,000 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $18.95, for a total value of $189,500.00. Following the sale, the chief accounting officer directly owned 5,906 shares of the company's stock, valued at approximately $111,918.70. This represents a 62.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter Cancelmo sold 25,000 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $18.54, for a total transaction of $463,500.00. Following the sale, the vice president owned 200 shares of the company's stock, valued at approximately $3,708. This trade represents a 99.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 105,906 shares of company stock worth $1,989,705 over the last quarter. Company insiders own 10.50% of the company's stock.

Hedge Funds Weigh In On Omeros

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Omeros in the second quarter valued at $57,484,000. State Street Corp grew its holdings in shares of Omeros by 20.9% during the second quarter. State Street Corp now owns 2,319,906 shares of the biopharmaceutical company's stock valued at $22,062,000 after buying an additional 400,331 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Omeros by 13.0% during the fourth quarter. Corient Private Wealth LLC now owns 688,025 shares of the biopharmaceutical company's stock worth $11,817,000 after acquiring an additional 79,263 shares in the last quarter. Corient Private Wealth LP bought a new stake in shares of Omeros during the second quarter worth about $6,274,000. Finally, Bank of America Corp DE raised its holdings in shares of Omeros by 57.8% in the 1st quarter. Bank of America Corp DE now owns 204,805 shares of the biopharmaceutical company's stock worth $2,163,000 after acquiring an additional 74,997 shares during the last quarter. 48.79% of the stock is owned by institutional investors and hedge funds.

Omeros Price Performance

NASDAQ:OMER opened at $18.61 on Friday. Omeros has a one year low of $4.05 and a one year high of $21.24. The company has a market cap of $1.35 billion, a PE ratio of 14.54 and a beta of 2.57. The firm's 50 day simple moving average is $17.12 and its 200 day simple moving average is $13.30.

Omeros (NASDAQ:OMER - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.29. The business had revenue of $28.53 million for the quarter, compared to the consensus estimate of $12.69 million. Equities research analysts expect that Omeros will post -0.37 EPS for the current year.

About Omeros

Omeros Corporation NASDAQ: OMER is a biopharmaceutical company focused on discovering, developing and commercializing therapies for disorders involving the complement, immune and coagulation systems. The company has also developed a pipeline of investigational therapies aimed at treating serious diseases involving complement activation and immune-system dysfunction. The company is headquartered in Seattle, Washington, and was founded in 1994.

Its leading investigational programs have included narsoplimab, which targets the lectin pathway of the complement system, and OMS906, an antibody designed to inhibit MASP-3 and regulate the alternative pathway.

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