Omeros (NASDAQ:OMER) Price Target Raised to $20.00 at HC Wainwright

Key Points

• HC Wainwright has raised the price target for Omeros from $9.00 to $20.00, indicating a potential upside of 90.60% from its previous close, with a "buy" rating on the stock.
• Omeros shares have seen a dramatic increase, with a rise of 155.9%, boosting its stock price to $10.49 during trading hours recently.
• The company has received mixed ratings from analysts, with two giving a Strong Buy rating and the average target price set at $27.50.

Omeros (NASDAQ:OMER - Get Free Report) had its price objective increased by stock analysts at HC Wainwright from $9.00 to $20.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the biopharmaceutical company's stock. HC Wainwright's target price would indicate a potential upside of 90.60% from the stock's previous close.

A number of other research analysts also recently commented on OMER. WBB Securities reiterated a "strong-buy" rating and set a $45.00 price objective on shares of Omeros in a research note on Wednesday. Wall Street Zen upgraded shares of Omeros from a "sell" rating to a "hold" rating in a research note on Saturday, September 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Omeros in a research note on Wednesday, October 8th. D. Boral Capital reiterated a "buy" rating and set a $36.00 price objective on shares of Omeros in a research note on Wednesday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Omeros in a research note on Friday, August 15th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $27.50.

Omeros Stock Up 155.9%

Shares of Omeros stock traded up $6.39 during trading hours on Wednesday, hitting $10.49. The company's stock had a trading volume of 83,900,598 shares, compared to its average volume of 1,303,773. Omeros has a 1-year low of $2.95 and a 1-year high of $13.60. The business has a fifty day moving average of $4.24 and a 200 day moving average of $4.50. The company has a market capitalization of $714.15 million, a PE ratio of -4.83 and a beta of 2.32.

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

Institutional Trading of Omeros

A number of large investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Omeros in the 2nd quarter worth about $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Omeros in the 2nd quarter worth about $280,000. Tower Research Capital LLC TRC increased its holdings in shares of Omeros by 829.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,414 shares of the biopharmaceutical company's stock worth $40,000 after acquiring an additional 11,971 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Omeros by 548.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 25,272 shares of the biopharmaceutical company's stock worth $76,000 after acquiring an additional 21,376 shares during the period. Finally, Brevan Howard Capital Management LP acquired a new stake in shares of Omeros in the 2nd quarter worth about $316,000. Institutional investors and hedge funds 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.

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