Cantor Fitzgerald Weighs in on Omeros Co.’s FY2024 Earnings (NASDAQ:OMER)

Omeros Co. (NASDAQ:OMER) – Analysts at Cantor Fitzgerald cut their FY2024 earnings estimates for shares of Omeros in a note issued to investors on Thursday, August 1st. Cantor Fitzgerald analyst O. Brayer now forecasts that the biopharmaceutical company will post earnings of ($2.93) per share for the year, down from their previous forecast of ($1.81). The consensus estimate for Omeros’ current full-year earnings is ($1.81) per share.

Omeros (NASDAQ:OMER) last posted its quarterly earnings data on Wednesday, May 15th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.13).

Other analysts have also issued research reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Omeros in a report on Tuesday, June 4th. StockNews.com raised shares of Omeros from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th.

Omeros Stock Performance

OMER opened at $4.37 on Monday. The company has a fifty day moving average price of $4.27 and a two-hundred day moving average price of $3.89. Omeros has a 52 week low of $0.92 and a 52 week high of $5.68. The firm has a market capitalization of $253.22 million, a PE ratio of -2.22 and a beta of 1.45.

Hedge Funds Weigh In On Omeros

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Omeros by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 3,250,284 shares of the biopharmaceutical company’s stock worth $11,213,000 after purchasing an additional 81,348 shares during the period. Bank of New York Mellon Corp boosted its stake in Omeros by 16.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 218,580 shares of the biopharmaceutical company’s stock worth $887,000 after purchasing an additional 31,081 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Omeros during the 1st quarter worth about $538,000. Rhumbline Advisers lifted its position in Omeros by 6.1% during the 2nd quarter. Rhumbline Advisers now owns 111,778 shares of the biopharmaceutical company’s stock worth $454,000 after buying an additional 6,435 shares in the last quarter. Finally, Cypress Capital Group lifted its position in Omeros by 40.0% during the 2nd quarter. Cypress Capital Group now owns 35,000 shares of the biopharmaceutical company’s stock worth $142,000 after buying an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 48.79% of the company’s stock.

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.