Zacks Investment Research Upgrades Omeros (NASDAQ:OMER) to Hold

Zacks Investment Research upgraded shares of Omeros (NASDAQ:OMER) from a sell rating to a hold rating in a research report sent 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 analysts have also issued reports about the stock. ValuEngine lowered shares of Yirendai from a sell rating to a strong sell rating in a report on Wednesday, June 26th. Cantor Fitzgerald reiterated a buy rating and set a $71.00 target price on shares of ExlService in a report on Monday, May 6th. HC Wainwright set a $55.00 target price on shares of Acer Therapeutics and gave the stock a buy rating in a report on Tuesday, May 28th. Wedbush set a $20.00 target price on shares of Plymouth Industrial Reit and gave the stock a buy rating in a report on Monday, May 20th. Finally, BidaskClub lowered shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday. Two research 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. The stock has a consensus rating of Hold and an average price target of $26.50.

Omeros stock opened at $14.85 on Tuesday. The business’s 50-day moving average price is $16.55. The stock has a market capitalization of $746.17 million, a price-to-earnings ratio of -6.69 and a beta of 3.04. Omeros has a 1-year low of $10.30 and a 1-year high of $27.00.

Omeros (NASDAQ:OMER) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.04). The firm had revenue of $21.80 million for the quarter, compared to the consensus estimate of $23.18 million. The company’s revenue for the quarter was up 1271.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.62) EPS. On average, equities research analysts forecast that Omeros will post -1.51 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers lifted its holdings in Omeros by 73.3% in the fourth quarter. Rhumbline Advisers now owns 72,243 shares of the biopharmaceutical company’s stock worth $805,000 after buying an additional 30,547 shares during the period. Miramar Capital LLC purchased a new stake in Omeros in the fourth quarter worth about $192,000. Quad Cities Investment Group LLC lifted its holdings in Omeros by 28.2% in the first quarter. Quad Cities Investment Group LLC now owns 13,650 shares of the biopharmaceutical company’s stock worth $236,000 after buying an additional 3,000 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in Omeros by 49.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,912,244 shares of the biopharmaceutical company’s stock worth $21,303,000 after buying an additional 632,840 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Omeros by 31.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,250 shares of the biopharmaceutical company’s stock worth $192,000 after buying an additional 4,150 shares during the period. Institutional investors and hedge funds own 52.12% of the company’s stock.

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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