Omeros (NASDAQ:OMER) Upgraded at Wall Street Zen

Key Points

• Omeros has been upgraded from a "sell" rating to a "hold" rating by analysts at Wall Street Zen, indicating improved outlook for the stock.
• The company reported a quarterly earnings per share of ($0.53), surpassing expectations of ($0.55) and generating revenue of $28.60 million.
• Currently, Omeros holds a Moderate Buy consensus rating among analysts with a price target of $18.00.

Wall Street Zen upgraded shares of Omeros (NASDAQ:OMER - Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other equities analysts have also weighed in on OMER. HC Wainwright reissued a "buy" rating and issued a $9.00 target price on shares of Omeros in a research report on Friday, June 27th. D. Boral Capital restated a "buy" rating and set a $36.00 price target on shares of Omeros in a research note on Wednesday, September 3rd. Finally, Needham & Company LLC restated a "hold" rating 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 given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.00.

Omeros Price Performance

NASDAQ OMER traded up $0.18 during trading hours on Friday, hitting $4.48. The company's stock had a trading volume of 194,616 shares, compared to its average volume of 896,281. Omeros has a 12 month low of $2.95 and a 12 month high of $13.60. The company's 50 day simple moving average is $4.05 and its two-hundred day simple moving average is $4.94. The company has a market cap of $304.57 million, a P/E ratio of -2.12 and a beta of 2.37.

Omeros (NASDAQ:OMER - Get Free Report) last issued its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, topping analysts' consensus estimates of ($0.55) by $0.02. The business had revenue of $28.60 million during the quarter, compared to analysts' expectations of $0.31 million. As a group, research analysts predict that Omeros will post -3.09 earnings per share for the current fiscal year.

Institutional Trading of Omeros

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in Omeros by 14,486.3% during the 1st quarter. GAMMA Investing LLC now owns 7,439 shares of the biopharmaceutical company's stock valued at $61,000 after buying an additional 7,388 shares during the period. Harbour Investments Inc. raised its holdings in Omeros by 51.9% during the 1st quarter. Harbour Investments Inc. now owns 9,218 shares of the biopharmaceutical company's stock valued at $76,000 after buying an additional 3,149 shares during the period. Sowell Financial Services LLC purchased a new stake in Omeros during the 1st quarter valued at $88,000. Trexquant Investment LP purchased a new stake in Omeros during the 1st quarter valued at $88,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Omeros during the 2nd quarter valued at $32,000. Hedge funds and other 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.