Omeros Corporation (NASDAQ:OMER) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Omeros Corporation (NASDAQ:OMER) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Omeros Corporation ( NASDAQ:OMER – Get Free Report ) have been given an average recommendation of “Moderate Buy” by the six analysts that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $38.00.

Several analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating on shares of Omeros in a research report on Monday, July 27th. Wall Street Zen raised shares of Omeros from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings upgraded shares of Omeros from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 5th. D. Boral Capital reaffirmed a “buy” rating and issued a $36.00 price target on shares of Omeros in a report on Tuesday, April 21st. Finally, Zacks Research downgraded Omeros from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. State of Wyoming purchased a new stake in Omeros in the 4th quarter worth about $25,000. B. Riley Wealth Advisors Inc. purchased a new stake in Omeros during the second quarter valued at about $32,000. Caitong International Asset Management Co. Ltd purchased a new stake in Omeros during the fourth quarter valued at about $33,000. Assetmark Inc. bought a new position in Omeros during the first quarter worth about $38,000. Finally, Tower Research Capital LLC TRC boosted its position in Omeros by 829.6% during the second quarter. Tower Research Capital LLC TRC now owns 13,414 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 11,971 shares during the period. Institutional investors own 48.79% of the company’s stock.

Omeros reported second-quarter earnings of $0.02 per share, substantially ahead of the expected $0.27 loss, while revenue of $28.53 million more than doubled the $12.69 million consensus estimate. The earnings beat was the primary catalyst for the recent advance.

Management highlighted a strong launch for YARTEMLEA, along with debt reduction and potential share repurchases. Analysts also pointed to reduced C5 competition as a favorable factor for the company’s commercial outlook.

H.C. Wainwright maintained its Buy rating and $33 price target, citing YARTEMLEA’s strong launch and a more favorable competitive environment. The target implies substantial potential upside if the ...