Maxim Group reiterated their buy rating on shares of Omeros (NASDAQ:OMER) in a research note published on Friday morning. The firm currently has a $32.00 target price on the biopharmaceutical company’s stock.
“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.”,” Maxim Group’s analyst wrote.
Several other analysts also recently commented on the stock. HC Wainwright set a $34.00 target price on shares of Omeros and gave the stock a buy rating in a research report on Wednesday, October 24th. ValuEngine raised shares of Omeros from a hold rating to a buy rating in a research report on Friday, October 19th. BidaskClub raised shares of Omeros from a buy rating to a strong-buy rating in a research report on Wednesday, October 17th. Finally, Zacks Investment Research raised shares of Omeros from a sell rating to a hold rating in a research report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $27.56.
Omeros stock traded down $3.00 during trading hours on Friday, hitting $13.02. The company had a trading volume of 5,656,225 shares, compared to its average volume of 613,109. The firm has a market cap of $793.47 million, a PE ratio of -16.48 and a beta of 3.79. Omeros has a fifty-two week low of $8.36 and a fifty-two week high of $27.00.
Omeros (NASDAQ:OMER) last posted its earnings results on Friday, November 9th. The biopharmaceutical company reported ($0.81) EPS for the quarter, missing the Thomson Reuters’ 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 period last year, the company earned ($0.16) earnings per share. Research analysts expect that Omeros will post -2.48 EPS for the current fiscal year.
In other Omeros news, VP Marcia S. Kelbon sold 7,529 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 227,645 shares of the company’s stock, valued at $5,861,858.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of OMER. Russell Investments Group Ltd. boosted its holdings in shares of Omeros by 30.8% during the 1st quarter. Russell Investments Group Ltd. now owns 29,884 shares of the biopharmaceutical company’s stock worth $334,000 after buying an additional 7,037 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Omeros by 10.2% during the 1st quarter. Principal Financial Group Inc. now owns 29,433 shares of the biopharmaceutical company’s stock worth $329,000 after buying an additional 2,723 shares during the period. Bank of Montreal Can bought a new stake in shares of Omeros during the 2nd quarter worth $756,000. Nisa Investment Advisors LLC bought a new stake in shares of Omeros during the 2nd quarter worth $1,099,000. Finally, Lesa Sroufe & Co bought a new stake in shares of Omeros during the 2nd quarter worth $310,000. 47.42% of the stock is owned by institutional investors and hedge funds.
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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