Omeros (NASDAQ:OMER)‘s stock had its “buy” rating reaffirmed by research analysts at Maxim Group in a research note issued on Friday. They presently have a $32.00 price target on the biopharmaceutical company’s stock. Maxim Group’s target price suggests a potential upside of 145.78% from the company’s previous close.
The analysts wrote, “Omeros reported 3Q18 with $4.6M in Omidria revenues, up from $1.7M in 2Q18. Omeros reported a net loss for the quarter of ($39.5M), and a cash balance of $55M, excluding the $210M debt offering announced concurrently. OMER shares are down ~20%, in our view, due to a misunderstanding of the financing.””
OMER has been the topic of several other reports. ValuEngine raised shares of Omeros from a “buy” rating to a “strong-buy” rating in a report on Monday, September 24th. HC Wainwright set a $34.00 price objective on shares of Omeros and gave the stock a “buy” rating in a research report on Monday, October 15th. Wedbush set a $20.00 price objective on shares of Omeros and gave the stock a “hold” rating in a research report on Friday, August 10th. BidaskClub downgraded shares of Omeros from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 6th. Finally, Zacks Investment Research upgraded shares of Omeros from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Omeros presently has an average rating of “Hold” and a consensus price target of $27.56.
Omeros (NASDAQ:OMER) last posted its quarterly earnings results on Friday, November 9th. The biopharmaceutical company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The business had revenue of $4.61 million for the quarter, compared to the consensus estimate of $3.07 million. During the same quarter last year, the firm posted ($0.16) earnings per share. As a group, equities research analysts anticipate that Omeros will post -2.48 EPS for the current year.
In other Omeros news, VP Marcia S. Kelbon sold 7,529 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $25.75, for a total value of $193,871.75. Following the completion of the transaction, the vice president now owns 227,645 shares in the company, valued at $5,861,858.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 12.10% of the company’s stock.
Several institutional investors have recently modified their holdings of OMER. Millennium Management LLC acquired a new position in shares of Omeros in the second quarter worth about $8,513,000. Capital Impact Advisors LLC acquired a new position in shares of Omeros during the 2nd quarter worth about $1,749,000. Ingalls & Snyder LLC raised its position in shares of Omeros by 1.3% during the 2nd quarter. Ingalls & Snyder LLC now owns 5,613,487 shares of the biopharmaceutical company’s stock worth $101,829,000 after purchasing an additional 70,625 shares during the last quarter. Alps Advisors Inc. acquired a new position in shares of Omeros during the 2nd quarter worth about $1,271,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Omeros during the 2nd quarter worth about $1,099,000. Institutional investors and hedge funds own 47.42% of the company’s stock.
Omeros Company Profile
Omeros Corporation, a biopharmaceutical company, discovers, develops, and commercializes small-molecule and protein therapeutics, and orphan indications targeting inflammation, coagulopathies, and disorders of the central nervous system. The company markets OMIDRIA for use in cataract surgery or intraocular lens replacement in the United States.
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