Omeros (NASDAQ:OMER) Upgraded by Wall Street Zen to Hold Rating

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 report issued on Saturday.

A number of other research firms have also recently commented on OMER. D. Boral Capital reissued a "buy" rating and issued a $36.00 price target on shares of Omeros in a report on Wednesday, September 3rd. HC Wainwright reaffirmed a "buy" rating and issued a $9.00 price objective on shares of Omeros in a research note on Friday, June 27th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Omeros in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

Omeros Stock Down 1.9%

NASDAQ OMER traded down $0.08 during trading hours on Friday, reaching $4.18. The company's stock had a trading volume of 1,987,687 shares, compared to its average volume of 663,065. The firm's 50-day moving average price is $4.04 and its 200-day moving average price is $4.98. Omeros has a 1 year low of $2.95 and a 1 year high of $13.60. The company has a market capitalization of $284.49 million, a price-to-earnings ratio of -1.98 and a beta of 2.37.

Omeros (NASDAQ:OMER - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.53) EPS 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. Equities research analysts anticipate that Omeros will post -3.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Omeros

Several large investors have recently modified their holdings of OMER. Ameriprise Financial Inc. increased its position in shares of Omeros by 2.0% during the 4th quarter. Ameriprise Financial Inc. now owns 120,493 shares of the biopharmaceutical company's stock valued at $1,190,000 after purchasing an additional 2,317 shares during the last quarter. Deutsche Bank AG increased its position in shares of Omeros by 38.2% during the 4th quarter. Deutsche Bank AG now owns 40,046 shares of the biopharmaceutical company's stock valued at $396,000 after purchasing an additional 11,068 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Omeros by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,831 shares of the biopharmaceutical company's stock valued at $314,000 after purchasing an additional 1,110 shares during the last quarter. Millennium Management LLC grew its position in Omeros by 46.2% in the 4th quarter. Millennium Management LLC now owns 85,671 shares of the biopharmaceutical company's stock valued at $846,000 after acquiring an additional 27,088 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Omeros by 75.0% in the 4th quarter. ProShare Advisors LLC now owns 18,496 shares of the biopharmaceutical company's stock valued at $183,000 after acquiring an additional 7,927 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.