Omeros (NASDAQ:OMER) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Omeros reported an EPS of ($0.53) for the quarter, missing analysts' estimates by $0.07.
• The stock price fell 3.5%, dropping to $4.12 following the earnings announcement.
• Wall Street analysts have mixed ratings for Omeros, with an average rating of "Moderate Buy" and a target price averaging $18.00.

Omeros (NASDAQ:OMER - Get Free Report) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.02, Zacks reports. The firm had revenue of $28.60 million during the quarter, compared to analyst estimates of $0.31 million.

Omeros Stock Performance

Omeros stock traded down $0.16 during midday trading on Tuesday, reaching $4.08. 169,487 shares of the company's stock were exchanged, compared to its average volume of 901,949. Omeros has a 52 week low of $2.95 and a 52 week high of $13.60. The firm has a market cap of $251.67 million, a price-to-earnings ratio of -1.94 and a beta of 2.26. The stock's 50-day simple moving average is $3.60 and its 200 day simple moving average is $5.72.

Analysts Set New Price Targets

Several analysts have issued reports on OMER shares. HC Wainwright reissued a "buy" rating and issued a $9.00 price target on shares of Omeros in a research note on Friday, June 27th. Wall Street Zen downgraded Omeros from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Needham & Company LLC reaffirmed a "hold" rating on shares of Omeros in a research report on Friday. Finally, D. Boral Capital reaffirmed a "buy" rating and issued a $36.00 target price on shares of Omeros in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Omeros currently has an average rating of "Moderate Buy" and a consensus price target of $18.00.

Hedge Funds Weigh In On Omeros

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its holdings in Omeros by 829.6% during the second quarter. Tower Research Capital LLC TRC now owns 13,414 shares of the biopharmaceutical company's stock worth $40,000 after purchasing an additional 11,971 shares during the period. BNP Paribas Financial Markets grew its holdings in Omeros by 548.7% during the second quarter. BNP Paribas Financial Markets now owns 25,272 shares of the biopharmaceutical company's stock worth $76,000 after purchasing an additional 21,376 shares during the period. Brevan Howard Capital Management LP bought a new stake in shares of Omeros during the second quarter worth approximately $316,000. Sei Investments Co. bought a new stake in shares of Omeros during the second quarter worth approximately $40,000. Finally, Marshall Wace LLP boosted its holdings in shares of Omeros by 15.1% during the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company's stock worth $2,224,000 after acquiring an additional 97,224 shares during the period. Institutional investors own 48.79% of the company's stock.

Omeros Company Profile

Omeros Corporation, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes small-molecule and protein therapeutics, and orphan indications targeting immunologic diseases, including complement-mediated diseases, cancers, and addictive and compulsive disorders. The company's products under development include Narsoplimab (OMS721/MASP-2) that has completed pivotal trial for hematopoietic stem-cell transplant-associated thrombotic microangiopathy (TA-TMA); that is in Phase III clinical trial for the treatment of immunoglobulin A nephropathy (IgAN); and Phase II clinical trial to treat COVID-19.