An interesting stock that came up in some of our conversations today is Omeros Corporation (NASDAQ:OMER). At current price of $15.58, the shares have already added 0.73 points (4.92% higher) from its previous close of $14.85. Should you buy or avoid them? The stock sets an active trading volume day with a reported 241516 contracts so far this session. OMER shares had a relatively better volume day versus average trading capacity of 402.89 thousand shares, but with a 46.09 million float and a -1.98% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for OMER stock indicates that the average analyst price target is $37.2 per share. This means the stock has a potential increase of 138.77% from where the OMER share price has been trading recently which is between $14.8 and $16.88. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $18.
The shorts are climbing into Omeros Corporation (OMER) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in OMER shares. While short interest still represents only 24.81% of OMER’s float, the number of shares shorted have risen by 534970. The number of shares shorted advanced to 11968519 shares, up from 11433549 shares during the preceding fortnight. With average daily trading volumes at 439613 shares, days to cover decreased to about 38.44269 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Calls Pop as Drug Stock Gets FDA Boost” and dated July 11, 2019.
During the recent trading session for Omeros Corporation (NASDAQ:OMER), the company witnessed their stock rise $0.77 over a week and tumble down $-1.49 from the price 20 days ago. When compared to their established 52-week high of $27, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/25/18. The recent low of $10.3 stood for a -42.3% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 3.05 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Omeros Corporation, the two-week RSI stands at 45.35. This figure suggests that OMER stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current OMER readings is similarly very revealing as it has a stochastic reading of 25.56% at this stage. This figure means that OMER share price today is being overbought.
Technical chart claims that Omeros Corporation (OMER) would settle between $16.22/share to $17.59/share level. However, if the stock price goes below the $14.14 mark, then the market for Omeros Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $13.43 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.04. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Cantor Fitzgerald, assumed coverage of OMER assigning Overweight rating, according to their opinion released on May 06. Seaport Global Securities, analysts launched coverage of Omeros Corporation (NASDAQ:OMER) stock with a Buy recommendation, according to their flash note issued to investors on July 12. Analysts at Wedbush lowered the stock to a Neutral call from its previous Outperform recommendation, in a research note that dated back to March 23.
OMER equity has an average rating of 2.17, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 4 analysts rated Omeros Corporation (NASDAQ:OMER) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, OMER stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 14.91 while for the average stock in the same group, the multiple is 42.28.
Omeros Corporation (OMER)’s current-quarter revenues are projected to climb by nearly 1604.22% to hit $28.29 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 326.41% from $29.87 million to a noteworthy $127360. At the other end of the current quarter income statement, Omeros Corporation is expected to see its adjusted earnings surge by roughly 36.67% to hit $-0.38 per share. For the fiscal year, OMER’s earnings are projected to climb by roughly 42.15% to hit $-1.51 per share.