Omeros (NASDAQ:OMER) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Omeros (NASDAQ:OMER - Get Free Report) posted its earnings results on Monday. The biopharmaceutical company reported ($0.63) EPS for the quarter, beating analysts' consensus estimates of ($0.71) by $0.08, Zacks reports. During the same quarter in the previous year, the company posted ($0.15) EPS.

Omeros Price Performance

Shares of OMER stock traded down $0.30 during trading hours on Friday, hitting $7.06. The stock had a trading volume of 802,194 shares, compared to its average volume of 552,036. The stock's 50 day moving average is $8.56 and its 200 day moving average is $7.63. Omeros has a twelve month low of $2.97 and a twelve month high of $13.60. The firm has a market capitalization of $409.93 million, a PE ratio of -3.06 and a beta of 2.35.

Analyst Ratings Changes

A number of equities analysts have weighed in on OMER shares. StockNews.com upgraded Omeros from a "sell" rating to a "hold" rating in a research note on Tuesday. D. Boral Capital reaffirmed a "buy" rating and set a $36.00 target price on shares of Omeros in a report on Tuesday. Finally, Needham & Company LLC restated a "hold" rating on shares of Omeros in a report on Tuesday. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $22.50.

About Omeros

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.