Zacks Investment Research Lowers Omeros (NASDAQ:OMER) to Sell

Zacks Investment Research downgraded shares of Omeros (NASDAQ:OMER) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Omeros Corporation is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation and disorders of the central nervous system. Omeros’ most clinically advanced product candidates are derived from its proprietary PharmacoSurgery(TM) platform designed to improve clinical outcomes of patients undergoing arthroscopic, ophthalmological, urological and other surgical and medical procedures. Omeros has four ongoing PharmacoSurgery(TM) clinical development programs, and its lead product candidate, OMS103HP, is being evaluated in Phase 3 clinical trials for use during arthroscopic surgery to improve postoperative joint function and reduce postoperative pain. Omeros is also building a diverse pipeline of preclinical programs targeting inflammation and central nervous system disorders. “

OMER has been the subject of a number of other reports. JPMorgan Chase & Co. cut shares of Omeros from a neutral rating to an underweight rating in a research note on Friday, October 8th. Maxim Group lowered shares of Omeros from a buy rating to a hold rating in a research report on Friday, October 1st. Wedbush lowered shares of Omeros from a neutral rating to an underperform rating and set a $5.00 price target on the stock. in a research report on Friday, October 1st. Finally, HC Wainwright dropped their price target on shares of Omeros from $19.00 to $12.00 and set a buy rating on the stock in a research report on Tuesday, October 19th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Omeros presently has an average rating of Hold and an average target price of $27.38.

NASDAQ OMER opened at $5.77 on Wednesday. The company has a 50 day moving average price of $7.27 and a two-hundred day moving average price of $11.04. Omeros has a 12-month low of $5.45 and a 12-month high of $23.85.

Omeros (NASDAQ:OMER) last posted its earnings results on Monday, November 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.09. The business had revenue of $30.00 million during the quarter, compared to analyst estimates of $29.31 million. During the same quarter last year, the firm earned ($0.39) earnings per share. As a group, analysts anticipate that Omeros will post -0.73 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in OMER. Dark Forest Capital Management LP bought a new position in Omeros during the second quarter worth $41,000. Macquarie Group Ltd. increased its position in Omeros by 755.2% during the third quarter. Macquarie Group Ltd. now owns 4,909 shares of the biopharmaceutical company’s stock worth $68,000 after acquiring an additional 4,335 shares during the period. Apella Capital LLC bought a new position in Omeros during the fourth quarter worth $92,000. Creative Financial Designs Inc. ADV increased its position in Omeros by 32.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 6,750 shares of the biopharmaceutical company’s stock worth $93,000 after acquiring an additional 1,650 shares during the period. Finally, Advisor Group Holdings Inc. increased its position in Omeros by 982.8% during the second quarter. Advisor Group Holdings Inc. now owns 6,280 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 5,700 shares during the period. 48.62% of the stock is currently owned by institutional investors and hedge funds.

Omeros Company Profile

Omeros Corp. operates as a biopharmaceutical company. The firm engages in the discovery, development, and commercializing of both small-molecule and protein therapeutics for large market. It also offers orphan indications targeting inflammation, coagulopathies, and disorders of the central nervous system.

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