BlackRock Fund Advisors recently announced the acquisition of new stake in Omeros Corporation (NASDAQ:OMER). The institutional investor has increased its shareholding in the Healthcare company by 3.69% to 3.92 million shares with purchase of 0.14 million shares. This fresh investment now brings its stake to 7.19% valued currently at $50.26 million. In addition, Cormorant Asset Management LP raised its holdings by 0.25 million to 2.77 million shares. And The Vanguard Group, Inc. has lifted its position by 0.91% or 23416.0 shares – to 2.58 million shares.
With over 1.51 million Omeros Corporation (OMER) shares trading Monday and a closing price of $11.95 on the day, the dollar volume was approximately $18.1 million. The shares have shown a negative weekly performance of -0.83% and its price on 08/31/20 lost nearly -0.83%. Currently, there are 54.51M common shares owned by the public and among those 48.25M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for OMER have a consensus price objective of $24.50. The analysts have set the share’s price value over the next 12 months at a high of $34.00 and a low of $12.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Omeros Corporation stock is 2.20 for the next 12 months. But an upside of 64.85% will see the stock hit the forecast high price target while mean target price for the stock is $26.00.
Insiders at the company have transacted a total of 8 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 5 of these insider trades were purchases, accounting for 33,334 shares. Insider sales of the common stock occurred on 3 occasions, with total insider shares sold totaling 20,000 shares.
The top 3 mutual fund holders in Omeros Corporation are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 1.46 million shares of the company’s stock, all valued at over $18.71 million. The company sold 4904.0 shares recently to bring their total holdings to about 2.68% of the shares outstanding. iShares Russell 2000 ETF sold 51170.0 shares to see its total holdings shrink to 1.09 million shares valued at over $14.03 million and representing 2.01% of the shares outstanding. Vanguard Extended Market Index Fu sold 1709.0 shares to bring its total holdings to over 0.75 million shares at a value of $9.6 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.37% of the shares outstanding.
Shares of Omeros Corporation (NASDAQ: OMER) opened at $12.20, up $0.15 from a prior closing price of $12.05. However, the script later closed the day at $11.95, down -0.83%. The company’s stock has a 5-day price change of -0.83% and -19.85% over the past three months. OMER shares are trading -15.19% year to date (YTD), with the 12-month market performance down to -35.37% lower. It has a 12-month low price of $8.50 and touched a high of $25.46 over the same period. Currently, 1.51 million shares have been traded, compared to an average intraday trading volume of 1.11 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -11.67%, -14.81%, and -14.95% respectively.
Institutional ownership of Omeros Corporation (NASDAQ: OMER) shares accounts for 52.50% of the company’s 54.51M shares outstanding. Mutual fund holders own 43.76%, while other institutional holders and individual stakeholders account for 5.98% and 14.96% respectively.
It has a market capitalization of $713.18M and a beta (3y monthly) value of 1.65. The earnings-per-share (ttm) stands at -$2.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.45% over the week and 8.05% over the month.
Analysts forecast that Omeros Corporation (OMER) will achieve an EPS of -$0.54 for the current quarter, -$0.66 for the next quarter and -$2 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.94 while analysts give the company a high EPS estimate of -$0.32. Comparatively, EPS for the current quarter was -$0.33 a year ago. Earnings per share for the fiscal year are expected to increase by 34.60%, and 10.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Omeros Corporation (OMER) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 2 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the OMER, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on August 21, 2020, with the firm’s price target at $34-$32. Maxim Group coverage for the Omeros Corporation (OMER) stock in a research note released on August 14, 2020 offered a Buy rating with a price target of $20. Cantor Fitzgerald was of a view on May 06, 2019 that the stock is Overweight, while Seaport Global Securities gave the stock Buy rating on July 12, 2018, issuing a price target of $30. Wedbush on their part issued Neutral rating on March 23, 2018.