Omeros (NASDAQ:OMER) Posts Earnings Results, Beats Estimates By $0.39 EPS

Omeros Corporation reported quarterly earnings, beating estimates with an EPS of ($0.19) versus the expected ($0.58). The stock rose 25.3% to $7.87, with increased trading volume. Institutional investors adjusted their stakes, and analysts have mixed ratings, with a consensus price target of $33.67. Omeros develops therapeutics for immunologic diseases and is advancing several clinical trials.

Omeros (NASDAQ:OMER - Get Free Report) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.39, Zacks reports.

Omeros Trading Up 25.3%

OMER stock traded up $1.59 during mid-day trading on Friday, reaching $7.87. The company's stock had a trading volume of 4,798,833 shares, compared to its average volume of 1,620,257. Omeros has a 12 month low of $2.95 and a 12 month high of $13.60. The business's 50 day moving average price is $5.71 and its 200 day moving average price is $4.59. The company has a market cap of $535.60 million, a price-to-earnings ratio of -3.73 and a beta of 2.40.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OMER. Acadian Asset Management LLC bought a new stake in Omeros during the first quarter worth $357,000. XTX Topco Ltd bought a new stake in shares of Omeros during the 2nd quarter worth $191,000. Invesco Ltd. boosted its holdings in shares of Omeros by 34.1% in the 2nd quarter. Invesco Ltd. now owns 116,688 shares of the biopharmaceutical company's stock worth $350,000 after buying an additional 29,644 shares during the last quarter. Marshall Wace LLP grew its position in Omeros by 15.1% during the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company's stock valued at $2,224,000 after buying an additional 97,224 shares during the period. Finally, Sei Investments Co. purchased a new stake in Omeros during the second quarter worth about $40,000. 48.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OMER. Needham & Company LLC restated a "hold" rating on shares of Omeros in a research note on Wednesday, October 15th. Wall Street Zen upgraded shares of Omeros from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Omeros in a report on Wednesday, October 8th. D. Boral Capital reiterated a "buy" rating and issued a $36.00 price target on shares of Omeros in a research note on Friday. Finally, HC Wainwright upped their target price on Omeros from $9.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.67.

View Our Latest Stock Report on OMER

Omeros Company Profile

(Get Free Report)

Omeros Corporation, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes small-molecule and protein therapeutics, and orphan indications targeting immunologic diseases, including complement-mediated diseases, cancers, and addictive and compulsive disorders. The company's products under development include Narsoplimab (OMS721/MASP-2) that has completed pivotal trial for hematopoietic stem-cell transplant-associated thrombotic microangiopathy (TA-TMA); that is in Phase III clinical trial for the treatment of immunoglobulin A nephropathy (IgAN); and Phase II clinical trial to treat COVID-19.

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