Omeros (NASDAQ:OMER) Rating Increased to Hold at Zacks Investment Research

Omeros (NASDAQ:OMER) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Omeros Corporation is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation and disorders of the central nervous system. Omeros’ most clinically advanced product candidates are derived from its proprietary PharmacoSurgery(TM) platform designed to improve clinical outcomes of patients undergoing arthroscopic, ophthalmological, urological and other surgical and medical procedures. Omeros has four ongoing PharmacoSurgery(TM) clinical development programs, and its lead product candidate, OMS103HP, is being evaluated in Phase 3 clinical trials for use during arthroscopic surgery to improve postoperative joint function and reduce postoperative pain. Omeros is also building a diverse pipeline of preclinical programs targeting inflammation and central nervous system disorders. “

Other equities research analysts have also issued research reports about the company. HC Wainwright set a $55.00 target price on Acer Therapeutics and gave the company a “buy” rating in a research report on Tuesday, May 28th. Cantor Fitzgerald restated a “buy” rating and issued a $71.00 price objective on shares of ExlService in a research report on Monday, May 6th. BidaskClub lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday. Wedbush set a $20.00 price objective on Plymouth Industrial Reit and gave the stock a “buy” rating in a research report on Monday, May 20th. Finally, ValuEngine lowered Yirendai from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Omeros currently has a consensus rating of “Hold” and an average price target of $26.50.

Omeros stock traded down $0.36 during trading hours on Tuesday, reaching $14.85. The stock had a trading volume of 1,100,142 shares, compared to its average volume of 530,794. Omeros has a 52 week low of $10.30 and a 52 week high of $27.00. The company has a market capitalization of $800.14 million, a P/E ratio of -6.84 and a beta of 3.05. The stock has a 50 day moving average of $16.62.

Omeros (NASDAQ:OMER) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.04). The firm had revenue of $21.80 million for the quarter, compared to analysts’ expectations of $23.18 million. The firm’s quarterly revenue was up 1271.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.62) EPS. Research analysts predict that Omeros will post -1.51 EPS for the current year.

Several hedge funds have recently made changes to their positions in OMER. DAVENPORT & Co LLC boosted its position in Omeros by 12.6% during the second quarter. DAVENPORT & Co LLC now owns 71,250 shares of the biopharmaceutical company’s stock worth $1,118,000 after purchasing an additional 8,000 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Omeros during the first quarter worth $69,000. DekaBank Deutsche Girozentrale boosted its position in Omeros by 21.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 18,700 shares of the biopharmaceutical company’s stock worth $465,000 after purchasing an additional 3,300 shares in the last quarter. Rhumbline Advisers boosted its position in Omeros by 19.4% during the first quarter. Rhumbline Advisers now owns 86,275 shares of the biopharmaceutical company’s stock worth $1,499,000 after purchasing an additional 14,032 shares in the last quarter. Finally, Keeley Teton Advisors LLC boosted its position in Omeros by 32.3% during the first quarter. Keeley Teton Advisors LLC now owns 17,201 shares of the biopharmaceutical company’s stock worth $299,000 after purchasing an additional 4,200 shares in the last quarter. 52.12% of the stock is owned by institutional investors and hedge funds.

About Omeros

Omeros Corporation, a biopharmaceutical company, discovers, develops, and commercializes small-molecule and protein therapeutics, and orphan indications targeting inflammation, complement-mediated diseases, disorders of the central nervous system (CNS), and immune-related diseases. It provides OMIDRIA for use in cataract surgery or intraocular lens replacement in the United States.

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