Needham & Company LLC Reaffirms Hold Rating for Omeros (NASDAQ:OMER)

Key Points

• Omeros Corporation has received a "hold" rating from Needham & Company, while D. Boral Capital and HC Wainwright maintain "buy" ratings with price targets of $36.00 and $9.00, respectively.
• The company's stock dropped 3.5% recently, closing at $4.12, significantly lower than its 52-week high of $13.60.
• Omeros reported earnings of ($0.65) EPS for the previous quarter, which missed analysts' expectations of ($0.60) EPS.

Needham & Company LLC reaffirmed their hold rating on shares of Omeros (NASDAQ:OMER - Free Report) in a report released on Friday morning,Benzinga reports.

OMER has been the subject of a number of other reports. 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 lowered Omeros from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Finally, D. Boral Capital restated a "buy" rating and issued a $36.00 target price on shares of Omeros in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $18.00.

Omeros Stock Performance

Shares of Omeros stock traded down $0.1350 during midday trading on Friday, reaching $4.2250. 709,303 shares of the company's stock traded hands, compared to its average volume of 913,327. The stock has a 50 day moving average of $3.61 and a 200-day moving average of $5.71. Omeros has a 12 month low of $2.95 and a 12 month high of $13.60. The company has a market cap of $260.94 million, a PE ratio of -2.00 and a beta of 2.26.

Omeros (NASDAQ:OMER - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.55) by $0.02. The company had revenue of $28.60 million for the quarter, compared to analysts' expectations of $0.31 million. On average, equities analysts anticipate that Omeros will post -3.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Omeros in the 4th quarter worth approximately $124,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Omeros in the first quarter worth $579,000. Price T Rowe Associates Inc. MD raised its stake in shares of Omeros by 12.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,582 shares of the biopharmaceutical company's stock worth $392,000 after purchasing an additional 4,401 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Omeros by 14,486.3% during the first quarter. GAMMA Investing LLC now owns 7,439 shares of the biopharmaceutical company's stock valued at $61,000 after purchasing an additional 7,388 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Omeros by 9.9% during the fourth quarter. Cerity Partners LLC now owns 28,989 shares of the biopharmaceutical company's stock valued at $286,000 after buying an additional 2,600 shares during the last quarter. Institutional investors own 48.79% of the company's stock.

About Omeros

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.