Omeros (NASDAQ:OMER) Price Target Raised to $40.00

Omeros (NASDAQ:OMER) had its price objective boosted by stock analysts at HC Wainwright from $20.00 to $40.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 183.89% from the stock’s previous close.

A number of other analysts have also issued reports on OMER. D. Boral Capital reissued a “buy” rating and issued a $36.00 price target on shares of Omeros in a research note on Wednesday, December 24th. WBB Securities reissued a “strong-buy” rating and issued a $45.00 target price on shares of Omeros in a research report on Wednesday, October 15th. Wall Street Zen raised shares of Omeros from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Needham & Company LLC reiterated a “hold” rating on shares of Omeros in a report on Wednesday, October 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Omeros in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Omeros presently has an average rating of “Moderate Buy” and an average price target of $40.33.

Omeros Stock Up 4.1%

Shares of NASDAQ:OMER opened at $14.09 on Thursday. The company has a market capitalization of $998.98 million, a P/E ratio of -6.98 and a beta of 2.38. The stock’s fifty day simple moving average is $10.36 and its 200-day simple moving average is $6.52. Omeros has a 52-week low of $2.95 and a 52-week high of $17.65.

Omeros (NASDAQ:OMER) last posted its quarterly earnings data on Thursday, November 13th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.39. On average, sell-side analysts anticipate that Omeros will post -3.09 earnings per share for the current year.

Institutional Investors Weigh In On Omeros

Several institutional investors and hedge funds have recently modified their holdings of the stock. Corton Capital Inc. acquired a new stake in Omeros in the second quarter valued at approximately $117,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Omeros in the second quarter valued at $280,000. Cypress Capital Group grew its holdings in Omeros by 20.7% during the 2nd quarter. Cypress Capital Group now owns 42,000 shares of the biopharmaceutical company’s stock valued at $126,000 after purchasing an additional 7,200 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Omeros during the 2nd quarter worth $47,000. Finally, Harbour Investments Inc. lifted its holdings in Omeros by 46.1% in the 2nd quarter. Harbour Investments Inc. now owns 13,469 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 4,251 shares in the last quarter. Hedge funds and other institutional investors own 48.79% of the company’s stock.

Omeros Company Profile

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.