Omeros Corporation’s (NASDAQ:OMER) “Buy” Rating Reaffirmed at Maxim Group

Maxim Group reaffirmed their buy rating on shares of Omeros Corporation (NASDAQ:OMER) in a research report report published on Tuesday morning. They currently have a $24.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $23.00.

OMER has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Omeros Corporation from a hold rating to a sell rating in a report on Friday, June 23rd. BidaskClub cut shares of Omeros Corporation from a buy rating to a hold rating in a research report on Wednesday, June 28th. Cowen and Company reaffirmed an outperform rating on shares of Omeros Corporation in a research report on Saturday, June 3rd. Wedbush reissued an outperform rating and set a $47.00 target price on shares of Omeros Corporation in a research report on Wednesday, May 10th. Finally, Cantor Fitzgerald cut shares of Omeros Corporation from a buy rating to a neutral rating and reduced their target price for the stock from $21.00 to $15.00 in a research report on Thursday, May 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $32.80.

Omeros Corporation (NASDAQ OMER) traded down 0.47% during mid-day trading on Tuesday, hitting $23.45. 660,852 shares of the stock were exchanged. The company has a 50-day moving average price of $21.51 and a 200-day moving average price of $16.16. Omeros Corporation has a one year low of $7.20 and a one year high of $27.09. The company’s market cap is $1.05 billion.

Omeros Corporation (NASDAQ:OMER) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.12. The business had revenue of $17.15 million for the quarter, compared to analysts’ expectations of $14.63 million. During the same quarter last year, the business posted ($0.32) earnings per share. The business’s revenue was up 71.5% compared to the same quarter last year. Analysts forecast that Omeros Corporation will post ($1.26) earnings per share for the current fiscal year.

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In related news, VP Michael A. Jacobsen sold 24,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $21.20, for a total value of $508,800.00. Following the transaction, the vice president now owns 2,650 shares in the company, valued at $56,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael A. Jacobsen sold 12,000 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $24.95, for a total value of $299,400.00. Following the completion of the transaction, the vice president now owns 19,500 shares in the company, valued at approximately $486,525. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in OMER. Ingalls & Snyder LLC increased its position in shares of Omeros Corporation by 1.0% in the second quarter. Ingalls & Snyder LLC now owns 5,143,289 shares of the biopharmaceutical company’s stock valued at $102,377,000 after buying an additional 50,970 shares during the period. Vanguard Group Inc. boosted its stake in Omeros Corporation by 5.4% in the second quarter. Vanguard Group Inc. now owns 1,825,671 shares of the biopharmaceutical company’s stock valued at $36,341,000 after buying an additional 94,280 shares in the last quarter. State Street Corp boosted its stake in Omeros Corporation by 4.6% in the fourth quarter. State Street Corp now owns 943,121 shares of the biopharmaceutical company’s stock valued at $9,362,000 after buying an additional 41,284 shares in the last quarter. Northern Trust Corp boosted its stake in Omeros Corporation by 6.4% in the second quarter. Northern Trust Corp now owns 572,576 shares of the biopharmaceutical company’s stock valued at $11,397,000 after buying an additional 34,328 shares in the last quarter. Finally, UBS Group AG boosted its stake in Omeros Corporation by 4.2% in the first quarter. UBS Group AG now owns 398,356 shares of the biopharmaceutical company’s stock valued at $6,023,000 after buying an additional 16,075 shares in the last quarter. Hedge funds and other institutional investors own 45.11% of the company’s stock.

Omeros Corporation Company Profile

Omeros Corporation is a biopharmaceutical company. The Company is engaged in discovering, developing and commercializing small-molecule and protein therapeutics for large-market, as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system. Its marketed drug product, Omidria (phenylephrine and ketorolac injection), is used during cataract surgery or intraocular lens (IOL) replacement.

Analyst Recommendations for Omeros Corporation (NASDAQ:OMER)

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