Stock fact sheet · data as of
Omeros Corporation (OMER): fair value, margin of safety and Wheel Score
Healthcare · Biotechnology · United States · Value
Is OMER undervalued?
OMER has a margin of safety of 72%: the stock closed at 18.79 on 16 Oct 2026 against a GLS average fair value of 66.86. 4 of the 4 valuation models that produced a number sit above the price. Our screens treat a discount this large as a strong starting point for a cash-secured put, not as a verdict - the fair value is a model output, and a wide gap can mean the models are missing something the market knows.
There is a wide gap between EPV (19.23) and GLS Growth (105.94). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files OMER under Value: positive earnings at a P/E of 18 or less.
Nine valuation models for OMER
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | 98.99 | +427% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 43.26 | +130% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 105.94 | +464% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 19.23 | +2% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -3.19 | -117% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 27.50 | +46% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Omeros Corporation scores 6 of 9 on the Piotroski F-score: a middling result that passes the Sunday Scan's "6 or more" rule. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. A GLS Moat score of 0.0/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC -2.8%, ROE 2.8%, ROA -1.0% - with debt at -1.97 times equity and negative free cash flow.
Omeros Corporation pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain.
Institutional ownership scores 6/10, insider activity 6/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | -2.8% |
|---|---|---|---|
| GLS Moat | 0.0 / 10 | ROE | 2.8% |
| Debt / equity | -1.97 | ROA | -1.0% |
| Free-cash-flow yield | -5.1% | Payout ratio | 0% |
| Institutions | 6 / 10 | Insiders · Congress | 6 · 5 / 10 |
Wheel Score 64: Fair
A Wheel Score of 64 puts Omeros Corporation in the Fair band - below the 70 the Sunday Scan requires. Value 25/25, Health 13/20, Moat 0/15, Premium 16/20 and Stability 10/20; the weakest part is Moat (0/15).
Implied volatility is 76% on the near-the-money contracts 20-60 days out - above the 60% ceiling of the sweet spot. Premiums are large, but the Wheel Score tapers the Premium points (16 of 20) because volatility this high usually comes with a reason. The option chain is deep: 62,335 contracts of open interest across all expiries, which means tight fills at most strikes.
Volume runs at 931k shares a day on a market cap of $1.4B, with a beta of 2.57 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score gives that 10 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 72% margin of safety | |
| Health | 13 / 20 | Piotroski 6/9 | |
| Moat | 0 / 15 | moat 0.0/10 | |
| Premium | 16 / 20 | implied volatility 76% | |
| Stability | 10 / 20 | 931k shares/day, $1.4B cap, beta 2.57 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 12 Nov 2026 (after the close), 27 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Biotechnology
The 12 companies below are the closest to Omeros Corporation by market cap within the Biotechnology industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| RAPP Rapport Therapeutics, Inc. Common Stock | 28.33 | 0.7949 | -3464% | 23Weak | $1.4B |
| AAPG Ascentage Pharma Group International | 14.69 | - | - | 27No options | $1.4B |
| INBX Inhibrx Biosciences Inc. | 90.50 | 0.7387 | -12152% | 25Weak | $1.3B |
| ORIC ORIC Pharmaceuticals, Inc. | 12.77 | 0.3488 | -3561% | 25Weak | $1.3B |
| GHRS GH Research PLC | 18.81 | 3.99 | -372% | 30Weak | $1.3B |
| GPCR Structure Therapeutics Inc. | 22.19 | 13.18 | -68% | 30Weak | $1.3B |
| QURE uniQure N.V. | 20.97 | - | - | 45Weak | $1.5B |
| ANAB AnaptysBio, Inc. | 48.71 | 119.69 | +59% | 66Good | $1.5B |
| RARE Ultragenyx Pharmaceutical Inc. | 14.90 | - | - | 45Weak | $1.5B |
| KARD Kardigan, Inc. | 13.88 | 1.49 | -833% | 21Weak | $1.2B |
| IMCR Immunocore Holdings plc | 29.48 | - | - | 45Weak | $1.5B |
| STOK Stoke Therapeutics, Inc. | 23.26 | - | - | 45Weak | $1.5B |
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Start free See the Sunday ScanQuestions about OMER
Is OMER undervalued right now?
By the GLS models, yes: at 18.79 the stock is 72% below the average fair value of 66.86 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of OMER and what does it mean?
OMER scores 64 out of 100 (Fair). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for OMER?
66.86 per share as of 16 Oct 2026 - the simple average of the 4 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Omeros Corporation report earnings next?
The next earnings report is due on 12 Nov 2026 (after the close), 27 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does OMER have listed options, and how liquid are they?
Yes. The nightly snapshot found 424 listed contracts with 62,335 open interest across all expiries and implied volatility of 76% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.