In a research note that was released on Monday, May 22nd, Maxim Group had Omeros Corporation (NASDAQ:$OMER) listed as a buy rating, with a price target of $23.00.
Omeros Corporation has been mentioned in a number of other research reports as well. On February 8th, March 20th and March 30th, reports were released, reiterating Wedbush Inc.’s, WBB Securities’, and Cowen and Company’s sentiment that Omeros will outperform its peers. Among these reports, Wedbush Inc, and WBB Securities had a target share price of $47.00, and $75.00 respectively. Additionally, in a research report released Thursday, March 9th, Zacks Investment Research upgraded their sentiment on Omeros from a sell rating to a hold.
However, not everyone is so bullish on the healthcare stock, as in a report released May 11th, Cantor Fitzgerald downgraded their Buy rating to a neutral rating. They also dropped their fair value share price from $21.00 to $15.00.
With three analysts recommending a hold rating, and six others recommending a buy, Omeros has an average rating of “Buy”, and target share price of $32.66.
Omeros Corporation opened trading at $15.29 on Monday with the healthcare stock closing at $17.10, a gain of 11.84%. With a market cap of $671.83 million, Omeros has a 50-day moving average of $15.69, and 200 day moving averages of $12.64. The stock faced YTD lows of $7.20, and a YTD high of $17.19, which has been breached during after-hours today June 12th, 2017.
As of the last earnings results issued on May 10th, the biopharmaceutical company reported a loss of -$0.34 per share, narrowly beating analyst predictions of -$0.35 by $0.01. The business had revenues of $12.26 million for the quarter, an almost 8% difference when compared with the consensus estimate of $13.32 million. Despite the miss in estimated earnings, however, Omeros Corporation’s revenue figures are still up 65.2% versus the same quarter last year, when it had negative earnings of -$0.54 per share. On average, research analysts have Omeros Corporation’s earnings projected at approximately -$1.25 per share (EPS) for the current fiscal year.
Recent SEC filings have also detailed the selling off of company shares by corporate insiders. For an average share price of $16.49, director Thomas Cable sold 3,000 shares of Omeros Corporation on Wednesday, April 12th, for a total value of $49,470. This exchange of shares would leave the director with ownership of 40,067 shares of the company, totalling approximately $660,704.83, meaning that only 13.60% of the stock is now owned by corporate insiders.
As of recent, institutional investors and various hedge funds have also shown increased interest in the shares of the pharmaceutical company. For example, in this past quarter, large institutions such as the Goldman Sachs Group Inc. and Credit Suisse AG have increased their positions in Omeros Corporation by 42.5 % and 44.5% respectively.
With each position increase, Goldman now owns 59,606 shares of Omeros Corporation worth $901,000 after buying an additional 17,778 shares, and Credit Suisse AG now owns 57,144 shares worth $864,000 after an increased position of 17,586 shares. Bank of America Corp DE also increased its position in Omeros Corporation by 7.8%, or 5,736 shares in the last quarter. This would leave Bank of America Corp DE with ownership of 78,894 shares, worth over $1,193,000.
Additionally, firms such as National Asset Management Inc, and Highbridge Capital Management LLC purchased new positions in Omeros Corporation during the first quarter. Each investment was valued at $158,000 and $330,000 respectively. With so much interest, 45.44% of Omeros Corporation’s current company stocks are now owned by Institutional Investors and hedge funds.
About Omeros Corporation
Omeros is a committed biopharmaceutical company that is focused on discovering, developing, and commercializing both small-molecule and protein therapeutics for large-market, as well as orphan indications. These therapeutics target inflammation, coagulopathies and various disorders of the central nervous system. Its core marketed product, Omidria, is a proprietary combination of phenylephrine, and ketorolac, which serve as pupil dilating and anti-inflammatory agents respectively. The blend is then added to the standard irrigating solution used during cataract surgery or intraocular lens (IOL) replacement.
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