Omeros (NASDAQ:OMER) Downgraded to Hold Rating by Zacks Research

Omeros (NASDAQ:OMER) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

OMER has been the subject of several other research reports. D. Boral Capital reissued a “buy” rating and issued a $36.00 price target on shares of Omeros in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Omeros from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Weiss Ratings cut Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Finally, HC Wainwright cut their target price on Omeros from $40.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Omeros currently has an average rating of “Moderate Buy” and an average price target of $38.00.

Omeros Stock Up 4.9%

NASDAQ OMER opened at $10.50 on Monday. The company has a 50 day moving average price of $10.95 and a 200 day moving average price of $11.84. The firm has a market cap of $759.99 million, a PE ratio of 15.00 and a beta of 2.55. Omeros has a 52 week low of $3.34 and a 52 week high of $17.65.

Omeros (NASDAQ:OMER) last issued its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The company had revenue of $9.89 million for the quarter, compared to analyst estimates of $4.19 million. On average, equities research analysts anticipate that Omeros will post -0.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Thomas J. Cable sold 7,500 shares of Omeros stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $11.61, for a total transaction of $87,075.00. Following the sale, the director owned 35,067 shares of the company’s stock, valued at $407,127.87. The trade was a 17.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Omeros

A number of hedge funds and other institutional investors have recently modified their holdings of OMER. Acadian Asset Management LLC purchased a new position in shares of Omeros during the first quarter valued at $357,000. XTX Topco Ltd acquired a new stake in shares of Omeros in the 2nd quarter valued at $191,000. Invesco Ltd. increased its holdings in shares of Omeros by 34.1% during the 2nd quarter. Invesco Ltd. now owns 116,688 shares of the biopharmaceutical company’s stock valued at $350,000 after acquiring an additional 29,644 shares during the last quarter. Marshall Wace LLP raised its position in shares of Omeros by 15.1% in the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company’s stock valued at $2,224,000 after purchasing an additional 97,224 shares during the period. Finally, Sei Investments Co. acquired a new position in Omeros during the 2nd quarter worth $40,000. Institutional investors and hedge funds own 48.79% of the company’s stock.

About Omeros

Omeros Corporation is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of small-molecule and protein therapeutics. The company’s research programs target inflammation, complement-mediated diseases and disorders of the central nervous system. Omeros’s portfolio encompasses both internally discovered molecules and biologics, reflecting its commitment to advancing treatments for conditions with high unmet medical need.

Omeros’s first FDA-approved product, Omidria® (phenylephrine and ketorolac intraocular solution), is indicated to maintain pupil size by preventing intraoperative miosis and reducing postoperative pain in patients undergoing cataract surgery.