Omeros (OMER) Stock Price Down 6.7%
Shares of Omeros Corporation (NASDAQ:OMER) dropped 6.7% during mid-day trading on Tuesday . The stock traded as low as $19.45 and last traded at $19.58. Approximately 789,313 shares changed hands during trading, a decline of 1% from the average daily volume of 800,244 shares. The stock had previously closed at $20.98.
OMER has been the subject of several research analyst reports. Maxim Group reiterated a “buy” rating and set a $24.00 target price (up previously from $23.00) on shares of Omeros in a research report on Tuesday, August 8th. Wedbush reiterated an “outperform” rating and set a $47.00 target price on shares of Omeros in a research report on Friday, August 18th. Cantor Fitzgerald reiterated a “hold” rating and set a $19.00 target price (up previously from $15.00) on shares of Omeros in a research report on Thursday, August 24th. Zacks Investment Research upgraded Omeros from a “hold” rating to a “strong-buy” rating and set a $22.00 target price for the company in a research report on Thursday, October 19th. Finally, Cowen cut Omeros from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 2nd. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $34.14.
The company has a quick ratio of 4.74, a current ratio of 4.77 and a debt-to-equity ratio of 8.99.
Omeros (NASDAQ:OMER) last released its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.18. The firm had revenue of $21.66 million for the quarter, compared to analysts’ expectations of $17.82 million. The business’s quarterly revenue was up 91.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.34) EPS. equities research analysts forecast that Omeros Corporation will post -0.98 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mesirow Financial Investment Management Inc. purchased a new position in Omeros during the 2nd quarter valued at approximately $456,000. Teachers Advisors LLC grew its holdings in Omeros by 66.2% during the 2nd quarter. Teachers Advisors LLC now owns 113,509 shares of the biopharmaceutical company’s stock valued at $2,259,000 after buying an additional 45,224 shares in the last quarter. Ingalls & Snyder LLC grew its holdings in Omeros by 0.3% during the 3rd quarter. Ingalls & Snyder LLC now owns 5,161,035 shares of the biopharmaceutical company’s stock valued at $111,582,000 after buying an additional 17,746 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Omeros by 40.1% during the 2nd quarter. Alliancebernstein L.P. now owns 61,500 shares of the biopharmaceutical company’s stock valued at $1,224,000 after buying an additional 17,600 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Omeros by 42.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 59,606 shares of the biopharmaceutical company’s stock valued at $901,000 after buying an additional 17,778 shares in the last quarter. Institutional investors and hedge funds own 49.85% of the company’s stock.
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Omeros Corporation is a biopharmaceutical company. The Company is engaged in discovering, developing and commercializing small-molecule and protein therapeutics for large-market, as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system. Its marketed drug product, Omidria (phenylephrine and ketorolac injection), is used during cataract surgery or intraocular lens (IOL) replacement.
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