Omeros (NASDAQ:OMER) Trading 10.6% Higher – What’s Next?

Omeros Corporation (NASDAQ:OMER) was up 10.6% on Monday . The stock traded as high as $10.04 and last traded at $10.2660. Approximately 134,595 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,626,281 shares. The stock had previously closed at $9.28.

Analyst Ratings Changes

OMER has been the subject of a number of analyst reports. HC Wainwright lowered their target price on shares of Omeros from $40.00 to $33.00 and set a “buy” rating for the company in a report on Friday, June 26th. D. Boral Capital reissued a “buy” rating and issued a $36.00 price target on shares of Omeros in a research note on Tuesday, April 21st. Zacks Research upgraded Omeros from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Weiss Ratings cut Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen downgraded Omeros from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Omeros Stock Performance

The business’s 50-day moving average is $11.52 and its two-hundred day moving average is $11.83. The firm has a market capitalization of $723.94 million, a price-to-earnings ratio of 14.35 and a beta of 2.55.

Omeros (NASDAQ:OMER) last issued its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The firm had revenue of $9.89 million for the quarter, compared to analyst estimates of $4.19 million. Analysts forecast that Omeros Corporation will post -0.94 EPS for the current year.

Insiders Place Their Bets

In other news, Director Thomas J. Cable sold 7,500 shares of Omeros stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $11.61, for a total transaction of $87,075.00. Following the transaction, the director directly owned 35,067 shares of the company’s stock, valued at $407,127.87. This trade represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.50% of the company’s stock.

Institutional Trading of Omeros

A number of large investors have recently made changes to their positions in the company. State of Wyoming acquired a new stake in Omeros during the 4th quarter worth $25,000. B. Riley Wealth Advisors Inc. acquired a new position in Omeros in the second quarter valued at about $32,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Omeros in the fourth quarter worth about $33,000. Assetmark Inc. bought a new stake in shares of Omeros in the first quarter worth about $38,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Omeros by 829.6% during the second quarter. Tower Research Capital LLC TRC now owns 13,414 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 11,971 shares during the period. Institutional investors own 48.79% of the company’s stock.

Omeros Company Profile

Omeros Corporation is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of small-molecule and protein therapeutics. The company’s research programs target inflammation, complement-mediated diseases and disorders of the central nervous system. Omeros’s portfolio encompasses both internally discovered molecules and biologics, reflecting its commitment to advancing treatments for conditions with high unmet medical need.

Omeros’s first FDA-approved product, Omidria® (phenylephrine and ketorolac intraocular solution), is indicated to maintain pupil size by preventing intraoperative miosis and reducing postoperative pain in patients undergoing cataract surgery.